What Is Petty Cash Management?
What Is Petty Cash Management?
Petty cash reconciliation is the process by which the business ensures that its cash funds are being spent according to internal guidelines and policies and
The petty cash voucher must have the following information: Date of disbursement, Amount which is disbursed, Person who received the money, Reason for Cash count and verification of funds must be performed periodically, at least quarterly, by someone other than the custodian Verification of
40 thieves slot Accounting Entry Used to replenish the cash in the petty cash account This account is not changed unless there is a change in the value of the petty cashcash 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
