Deep Dive Uncovering the Secrets of US Company Accounting Records

From the Ground Up Decoding the Mysteries of U.S. Corporate Accounting Vouchers

In today’s highly integrated global economy, more and more companies are paying attention to international financial rules and practices. As one of the world's largest economies, the United States exerts a significant influence on corporate financial systems worldwide. In particular, the way American companies manage accounting vouchers-known for its rigor and transparency-is widely respected. This article will start with the basic concept of accounting vouchers and, using recent news as context, delve into the logic and standards behind how U.S. companies handle these critical documents.

1. What Are Accounting Vouchers, and Why Are They So Important?

Accounting vouchers serve as foundational records in accounting systems, documenting every economic transaction, including details such as time, amount, parties involved, and voucher numbers. In the United States, these vouchers are not only essential for internal financial management but also crucial for external audits and tax reporting.

According to the American Institute of Certified Public Accountants AICPA, all businesses must maintain complete sets of accounting vouchers for verification purposes, typically for no less than seven years. This regulation underscores the U.S. emphasis on regulatory compliance and sound business practices.

2. Core Characteristics of U.S. Accounting Vouchers

a High Standardization

The U.S. follows Generally Accepted Accounting Principles GAAP, which provide clear guidelines on voucher formats, classifications, and documentation. This standardization enhances data comparability and facilitates financial integration across multinational corporations.

b Strong Trend Toward Digitization

With the ongoing digital transformation, an increasing number of U.S. companies are adopting electronic accounting systems such as QuickBooks, Sage, and NetSuite. These platforms improve efficiency and reduce human error through automation.

c Emphasis on Internal Controls

Under the Sarbanes-Oxley Act SOX, publicly traded companies must establish robust internal control mechanisms to ensure the accuracy of financial reporting. As a key part of this framework, accounting vouchers undergo rigorous scrutiny for authenticity and completeness.

d Importance of Original Documentation

In the U.S., whether it’s invoices, receipts, or bank statements, original documents must be preserved carefully. Even in the digital age, many companies still scan and archive paper originals to prepare for potential audits or legal investigations.

3. Case Studies Recent News on Voucher Issues

In early 2025, the U.S. Securities and Exchange Commission SEC launched investigations into several tech startups over alleged financial fraud during fundraising processes. A key piece of evidence was inconsistencies between accounting vouchers and reported financial statements. For example, one company claimed to have raised multiple rounds of funding but failed to produce corresponding bank transfer records and copies of investment agreements, casting doubt on the credibility of its financial reports.

In May 2025, well-known retail chain Bed Bath Beyond filed for bankruptcy liquidation. Its bankruptcy filings revealed that missing accounting vouchers and disorganized approval procedures had led to uncollectible accounts receivable, worsening liquidity issues. This case once again highlights the central role of proper voucher management in ensuring stable business operations.

4. Lessons from U.S. Voucher Management Practices

Despite differences between Chinese and U.S. accounting standards and regulatory frameworks, the U.S. experience offers valuable insights

a Strengthen Voucher Review Processes

After each economic transaction, relevant departments should conduct cross-checks to ensure voucher authenticity and validity. Special attention is required for large expenditures or revenue recognition, where multiple levels of review are necessary.

b Adopt Professional Financial Software

Leveraging modern technology can enhance efficiency and enable automatic categorization, retrieval, and backup of vouchers. This is especially important for small and medium-sized enterprises SMEs, helping reduce labor costs while improving financial transparency.

c Conduct Regular Internal Audits

Following the U.S. model, companies should either set up dedicated internal audit departments or engage third-party agencies to periodically inspect accounting vouchers and address any issues promptly.

d Enhance Employee Training and Awareness

Finance staff and other relevant personnel should understand the requirements for voucher management and recognize their importance in maintaining regulatory compliance. Only through collective participation can a comprehensive financial management system be established.

5. Conclusion

While accounting vouchers may seem like just one part of daily operations, they are, in fact, a vital link in maintaining financial health and compliance. The mature practices of U.S. companies reflect the scientific nature of their institutional design and offer valuable reference points for businesses around the world. In an increasingly globalized environment, understanding and adopting these advanced practices can help organizations better navigate complex and dynamic business landscapes and move forward steadily.