Petty cash: What it is and how it's used
Petty cash: What it is and how it's used
The authorized balance of imprest, petty cash and other revolving funds should be reported as cash in the general ledger in whichever fund expenditures are
A 'Petty Cash Reimbursement' form must be completed, listing all the purchases, applicable taxes and assigning an appropriate account number to every expense It is prepared by two methods: Ordinary system: In this case, a fixed sum of money is paid to petty cashier for the payment of petty expenses and after spending
how to play hi low omaha Petty cash funds allow employees to make small, authorized purchases without the hassle of filing an expense report This, in turn, reduces bookkeeping tasks, Petty Cash Funds To help departments pay for small expenses for everyday business and have cash on hand for these situations, a petty cash fund can be set up
