What is documented by a 'payment voucher'?

A payment voucher serves as a formal document that authorizes the payment of a specific invoice or bill. It is an important tool in the accounts payable process, ensuring that payments are made only for goods and services that have been received and are due for payment. The payment voucher includes essential details such as the amount to be paid, the payee’s information, and any relevant invoice numbers, thus acting as a verification step in the payment process.

In contrast, other options mention concepts that do not accurately represent the purpose of a payment voucher. For instance, a summary of all financial transactions pertains to financial statements and reports, which compile data from various sources instead of focusing on a specific invoice. A record of employee payroll deductions relates to payroll documentation rather than the authorization of payments for goods or services. An internal report evaluating financial performance deals with the overall assessment of financial health and efficacy of operations, which lies outside the scope of a payment voucher’s function. Each of these options provides useful financial documentation but does not capture the specific purpose of a payment voucher.