Petty cash accounting
Petty cash accounting
Typically, petty cash is locked in a small box and is replenished frequently to ensure cash is available for any urgent purchases In most cases this is for
Because credit cards and online transactions are common nowadays, petty cash funds are no longer necessary for a healthy business spending Petty cash is a small amount of discretionary funds in the form of cash used for minor expenditures The most common way of accounting for petty cash
dear mc number app Petty cash refers to the amount used to pay for small expenses of a company issuing a check for which seems unreasonable Payment by check involves a long Reconciliation of Petty Cash Funds At the end of each month the custodian must reconcile the petty cash fund to ensure that all money is accounted for using
