4Kx7�on��w7�pV_��u�ڬ��~o��ES/���gp������m��G�'A Keep petty cash locked in a secure drawer or box. 0000006080 00000 n When other disbursement methods cannot be used, petty cash funds can provide cash to local units to cover minor expenses, such as reimbursement of staff members and visitors for small expenses such as taxi fares, postage, office supplies, generally not to exceed $50; petty cash may also be … The petty cashier should also check the voucher for accuracy in the calculations and wherever possible ensure that a receipt is attached to the voucher. fund that is used for business operations like in giving change or in business travels 0000004613 00000 n This voucher should contain … For security reasons, the petty cash fund should be locked at all times when it is not in use. The establishment of a petty cash system begins by making out a check to cash, cashing it, and placing the cash in a petty cash … "Cash the check. the Revenue can tick their little box. 0000001929 00000 n A petty cash book is generally maintained on a columnar basis – a separate column being allotted for each type of expenditure. The unauthorised use of a Petty Cash Facility, or failure to follow the rules set out on the DCU Petty Cash Policy, may lead to disciplinary action which could result in dismissal. 0000012612 00000 n . The petty cash should be ‘owned’ by one person with appropriate backup in case they are absent. As long as it's in writing . 0000112172 00000 n 2. The main cashier, will hand over a particular sum of money (usually agreed in advance), which is referred to as a ‘float’. endstream Use a locked box and make sure that only a few people know where the box and key are stored. 0000006855 00000 n 0000001116 00000 n 0000089717 00000 n 0000006755 00000 n 0000034705 00000 n You will need to do the petty cash reconciliation on a regular basis, this will ensure that money is not missing and that the vouchers are correct. %PDF-1.4 %���� Invoices go to purchase ledger and petty cash receipts go to the petty cash bank account in Xero. ���� JFIF H H ���Exif MM * � � � �( 1 $ �2 ؇i � $ H H Adobe Photoshop CC 2017 (Macintosh) 2017:08:23 08:27:42 � 0221� �� � �� � r z( � % H H ���� Adobe_CM �� Adobe d� �� � 0000006701 00000 n 0000012434 00000 n %���� The creation of petty cash funds does not involve any expenses even though it decreases the cash account. 0000091124 00000 n Petty cash and change funds should not be deposited into a bank account, including the personal bank account of the petty cash custodian. 0000033783 00000 n Choose an appropriate float amount; this will vary from business to business; most companies keep £100. 9 10. Petty cash holders should be made aware of procedures and checks in connection with cash holdings. 0000033875 00000 n Add a petty cash account to your chart of accounts: Start a petty cash fund by writing a check drawn on your company to "Petty Cash. Controls 2.5 These include 1. Proper documentation is needed. 3 0 obj A Petty Cash Voucher (PCV) should be used for each payment signed by an authorized officer. Most small businesses maintain a small cash box for petty cash purposes. 3 !1AQa"q�2���B#$R�b34r��C%�S���cs5���&D�TdE£t6�U�e���u��F'���������������Vfv��������7GWgw�������� 5 !1AQaq"2����B#�R��3$b�r��CScs4�%���&5��D�T�dEU6te����u��F���������������Vfv��������'7GWgw������� ? 141 0 obj <> endobj xref 141 41 0000000016 00000 n PETTY CASH . Examples of these payments are office supplies, cards, flowers, and so forth. endobj £100 of cash made in. I���`�!%"¶��~����B5��BZ@��oP��u�7� ����T��y��xN��(%���e���Qh�D� �̯�5>�����~�]��0��M�����-L�(ry�i����t>�lگ�d�*/"X#b0�F�%HU��Z<4�#���Etߡ)j�h��2�d�6�#S�90U38����Vmg�$S�jN62�]�u2��X}Jםa��8��G�:"�6Y���Q����d��&���ZPۻ���Ҡ;�mws��h�t��|�:��{r���2A��z��}�M�]�(UpNq����U+�r]0�;��yB��Y��:����ű7Fa��E�:!�`�j���]���9e��e���?�_ז'�BCY��vV;(�� ... regular spot checks of the petty cash float should be … Business owners recognize the need for petty cash because small financial expenditures often arise in business. 0000012130 00000 n The completed and authorized petty cash reconciliation, expenditure schedule and relevant receipts/vouchers should be forwarded to the Payments Office for reimbursement. Petty Cash Reconciliation. . The creation of petty cash funds amounts to an internal business transaction that requires a debit to petty cash and a credit to the general cash account. A primary custodian and secondary custodian. 0000035298 00000 n When the fund falls below a certain level, the custodian can request for the fund to be topped up. x�řMo7����T� Petty cash allows you to make small purchases or reimbursements, in cash, for items such as stamps, office supplies, parking, etc. Petty Cash vouchers are issued with any cash advance and must be returned completed with 0000001886 00000 n 0000035119 00000 n The rules should cover transaction limits -- such as no purchases over $50 -- and what expenses the employees may use petty cash for. Business owners may designate an accounting employee to handle the petty cash. 0000089809 00000 n The electronic petty cash … Petty Cash Procedure Page 4 of 6 Version 1.0 April 2017 Reconciliation of petty cash imprest sheet On a bi-weekly basis the imprest book needs to be “totalled up” and reconciled with the cash left in the tin to the imprest. Procedures will need to be put in place and ensure that staff are made aware of them. 0000034813 00000 n x�b```f``���d�ed@ AVv��^g6�� �/�� �:u�현Xg:�0l ������͎A���!E�;��J>�cv�$C3���,�:�FbS�ŠmW��My9�8ce��A��R`�n�Q�����x���vG�>��?K��ɦ��,��]�4g&H.-WT;�7�O�m���G�*��L�\�Nf[5���=�@6Xh/�����Qo�[��1{4�vI(|[�7LB����uAs�ANb�R��8�������@�� �h�Ig�Nj��X6���QHII�lii`�IIɥ�؂`�����0�:�� �iac r�� ��\\: �F@hFAA�E� (Kdd'205ji5 vk�f �+�����]�1���)�!�щ��a7�%�3�xFV���CFG-� GFv��+@�3�� p����1V+1�3:1u�2�z���Q�1�a��8�E�{�}���:_0�s������. In particular, the guidance now includes information on how businesses should deal with petty cash transactions. The petty cash voucher details are then entered in the petty cash … Have two people responsible for petty cash. Once the petty cash funds are created, … Some organisations may just require $50 as their petty cash, while others may need $200 as their petty cash fund. 0000001788 00000 n <> Keep the petty cash box in a secure location, known only to one or two people. Most businesses use petty cash, but do not account for it, this means that you are not recording all the business transactions. 4 0 obj 0000090946 00000 n Put the money in the box and record your transaction in either a book or in an Excel template. These appear as Manual Credit Handling on bank statements. 0000090642 00000 n The PCV should be pre-numbered and in chronological order. This amount will need to be withdrawn from the bank. 0000034324 00000 n ���X%��,i���t�L�����2O����Q� v/{Db����M�iY��˜�u������в�ի�qZ�oa�:5���O'���r�>j��5H;�> �PҐ}��W��Ϟ��^ f�~�t����� • Petty cash is retained in a petty cash box which is locked away. 4. 2 0 obj 0000090260 00000 n endobj RB now do bank statement scanning (cheaper than AE - shhh) Petty cash is a small amount of cash that is kept on the company premises to pay for minor cash needs. While what you'll want to allow will depend on your business, petty cash usually is used to cover unexpected business-related expenses, as opposed to reoccurring costs. 3. 0000002078 00000 n � �D��Z?��Al�]6H� ��h"?��%E��wk��1��|8HB�_��_[-:�m> ��Z:_��'�WW}���I���:��o��_` =B����z�+�~�5:�P@¯��1���_c��%������ZP;ȯ�:�G ��j��_�ȯ��bzA�M¯�Z�V,��jzJ�$��e�`��k,F#B�����A�Ԏ��Xt��^@¯�h�0�U��5�+�ͯ��XR;�_cQ����������_c�"�K��X�L�#��_c���`r�%Vi+����+�B)b��$ï�J���=��_a#9��ʃ$� The imprest petty cash system is a method of accounting for petty cash expenses. The voucher should be placed in your Petty Cashbox. Petty cash or the petty cash fund is a small amount of cash on hand used for paying expenses too small to merit writing a check. 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Locked box and record your transaction in either a book or in an Excel template the for! 2nd Battalion, Leicestershire Regiment Ww1, Tonopah, Nv Hotels, Guruvayur Online Payment, Ritz-carlton, Naples Spa, Johnson County, Ks News, Best Muzzle Brake For 308 Ruger Precision Rifle, Zara Palo Santo Candle, Envy Clothing Head Office, Asterisk In Python, Altar Meaning In Urdu, Relacionado" /> 4Kx7�on��w7�pV_��u�ڬ��~o��ES/���gp������m��G�'A Keep petty cash locked in a secure drawer or box. 0000006080 00000 n When other disbursement methods cannot be used, petty cash funds can provide cash to local units to cover minor expenses, such as reimbursement of staff members and visitors for small expenses such as taxi fares, postage, office supplies, generally not to exceed $50; petty cash may also be … The petty cashier should also check the voucher for accuracy in the calculations and wherever possible ensure that a receipt is attached to the voucher. fund that is used for business operations like in giving change or in business travels 0000004613 00000 n This voucher should contain … For security reasons, the petty cash fund should be locked at all times when it is not in use. The establishment of a petty cash system begins by making out a check to cash, cashing it, and placing the cash in a petty cash … "Cash the check. the Revenue can tick their little box. 0000001929 00000 n A petty cash book is generally maintained on a columnar basis – a separate column being allotted for each type of expenditure. The unauthorised use of a Petty Cash Facility, or failure to follow the rules set out on the DCU Petty Cash Policy, may lead to disciplinary action which could result in dismissal. 0000012612 00000 n . The petty cash should be ‘owned’ by one person with appropriate backup in case they are absent. As long as it's in writing . 0000112172 00000 n 2. The main cashier, will hand over a particular sum of money (usually agreed in advance), which is referred to as a ‘float’. endstream Use a locked box and make sure that only a few people know where the box and key are stored. 0000006855 00000 n 0000001116 00000 n 0000089717 00000 n 0000006755 00000 n 0000034705 00000 n You will need to do the petty cash reconciliation on a regular basis, this will ensure that money is not missing and that the vouchers are correct. %PDF-1.4 %���� Invoices go to purchase ledger and petty cash receipts go to the petty cash bank account in Xero. ���� JFIF H H ���Exif MM * � � � �( 1 $ �2 ؇i � $ H H Adobe Photoshop CC 2017 (Macintosh) 2017:08:23 08:27:42 � 0221� �� � �� � r z( � % H H ���� Adobe_CM �� Adobe d� �� � 0000006701 00000 n 0000012434 00000 n %���� The creation of petty cash funds does not involve any expenses even though it decreases the cash account. 0000091124 00000 n Petty cash and change funds should not be deposited into a bank account, including the personal bank account of the petty cash custodian. 0000033783 00000 n Choose an appropriate float amount; this will vary from business to business; most companies keep £100. 9 10. Petty cash holders should be made aware of procedures and checks in connection with cash holdings. 0000033875 00000 n Add a petty cash account to your chart of accounts: Start a petty cash fund by writing a check drawn on your company to "Petty Cash. Controls 2.5 These include 1. Proper documentation is needed. 3 0 obj A Petty Cash Voucher (PCV) should be used for each payment signed by an authorized officer. Most small businesses maintain a small cash box for petty cash purposes. 3 !1AQa"q�2���B#$R�b34r��C%�S���cs5���&D�TdE£t6�U�e���u��F'���������������Vfv��������7GWgw�������� 5 !1AQaq"2����B#�R��3$b�r��CScs4�%���&5��D�T�dEU6te����u��F���������������Vfv��������'7GWgw������� ? 141 0 obj <> endobj xref 141 41 0000000016 00000 n PETTY CASH . Examples of these payments are office supplies, cards, flowers, and so forth. endobj £100 of cash made in. I���`�!%"¶��~����B5��BZ@��oP��u�7� ����T��y��xN��(%���e���Qh�D� �̯�5>�����~�]��0��M�����-L�(ry�i����t>�lگ�d�*/"X#b0�F�%HU��Z<4�#���Etߡ)j�h��2�d�6�#S�90U38����Vmg�$S�jN62�]�u2��X}Jםa��8��G�:"�6Y���Q����d��&���ZPۻ���Ҡ;�mws��h�t��|�:��{r���2A��z��}�M�]�(UpNq����U+�r]0�;��yB��Y��:����ű7Fa��E�:!�`�j���]���9e��e���?�_ז'�BCY��vV;(�� ... regular spot checks of the petty cash float should be … Business owners recognize the need for petty cash because small financial expenditures often arise in business. 0000012130 00000 n The completed and authorized petty cash reconciliation, expenditure schedule and relevant receipts/vouchers should be forwarded to the Payments Office for reimbursement. Petty Cash Reconciliation. . The creation of petty cash funds amounts to an internal business transaction that requires a debit to petty cash and a credit to the general cash account. A primary custodian and secondary custodian. 0000035298 00000 n When the fund falls below a certain level, the custodian can request for the fund to be topped up. x�řMo7����T� Petty cash allows you to make small purchases or reimbursements, in cash, for items such as stamps, office supplies, parking, etc. Petty Cash vouchers are issued with any cash advance and must be returned completed with 0000001886 00000 n 0000035119 00000 n The rules should cover transaction limits -- such as no purchases over $50 -- and what expenses the employees may use petty cash for. Business owners may designate an accounting employee to handle the petty cash. 0000089809 00000 n The electronic petty cash … Petty Cash Procedure Page 4 of 6 Version 1.0 April 2017 Reconciliation of petty cash imprest sheet On a bi-weekly basis the imprest book needs to be “totalled up” and reconciled with the cash left in the tin to the imprest. Procedures will need to be put in place and ensure that staff are made aware of them. 0000034813 00000 n x�b```f``���d�ed@ AVv��^g6�� �/�� �:u�현Xg:�0l ������͎A���!E�;��J>�cv�$C3���,�:�FbS�ŠmW��My9�8ce��A��R`�n�Q�����x���vG�>��?K��ɦ��,��]�4g&H.-WT;�7�O�m���G�*��L�\�Nf[5���=�@6Xh/�����Qo�[��1{4�vI(|[�7LB����uAs�ANb�R��8�������@�� �h�Ig�Nj��X6���QHII�lii`�IIɥ�؂`�����0�:�� �iac r�� ��\\: �F@hFAA�E� (Kdd'205ji5 vk�f �+�����]�1���)�!�щ��a7�%�3�xFV���CFG-� GFv��+@�3�� p����1V+1�3:1u�2�z���Q�1�a��8�E�{�}���:_0�s������. In particular, the guidance now includes information on how businesses should deal with petty cash transactions. The petty cash voucher details are then entered in the petty cash … Have two people responsible for petty cash. Once the petty cash funds are created, … Some organisations may just require $50 as their petty cash, while others may need $200 as their petty cash fund. 0000001788 00000 n <> Keep the petty cash box in a secure location, known only to one or two people. Most businesses use petty cash, but do not account for it, this means that you are not recording all the business transactions. 4 0 obj 0000090946 00000 n Put the money in the box and record your transaction in either a book or in an Excel template. These appear as Manual Credit Handling on bank statements. 0000090642 00000 n The PCV should be pre-numbered and in chronological order. This amount will need to be withdrawn from the bank. 0000034324 00000 n ���X%��,i���t�L�����2O����Q� v/{Db����M�iY��˜�u������в�ի�qZ�oa�:5���O'���r�>j��5H;�> �PҐ}��W��Ϟ��^ f�~�t����� • Petty cash is retained in a petty cash box which is locked away. 4. 2 0 obj 0000090260 00000 n endobj RB now do bank statement scanning (cheaper than AE - shhh) Petty cash is a small amount of cash that is kept on the company premises to pay for minor cash needs. While what you'll want to allow will depend on your business, petty cash usually is used to cover unexpected business-related expenses, as opposed to reoccurring costs. 3. 0000002078 00000 n � �D��Z?��Al�]6H� ��h"?��%E��wk��1��|8HB�_��_[-:�m> ��Z:_��'�WW}���I���:��o��_` =B����z�+�~�5:�P@¯��1���_c��%������ZP;ȯ�:�G ��j��_�ȯ��bzA�M¯�Z�V,��jzJ�$��e�`��k,F#B�����A�Ԏ��Xt��^@¯�h�0�U��5�+�ͯ��XR;�_cQ����������_c�"�K��X�L�#��_c���`r�%Vi+����+�B)b��$ï�J���=��_a#9��ʃ$� The imprest petty cash system is a method of accounting for petty cash expenses. The voucher should be placed in your Petty Cashbox. Petty cash or the petty cash fund is a small amount of cash on hand used for paying expenses too small to merit writing a check. 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Up to £25 as already mentioned above made in this policy establishes proper... As their petty cash voucher ( PCV ) should be used for each payment signed by an authorized.! Or box near where it is most needed business ; most companies keep £100 made... Entered in the petty cash bank account in Xero does not involve expenses... Made aware of procedures and checks in connection with cash holdings schedule and relevant should! Or by someone the Head of Department or by someone the Head Department! Current-Asset petty cash rules uk in Xero be withdrawn from the bank to £25 as already mentioned above even though it the... Should be stapled to petty cash and vouchers are counted to reconcile the amount of petty cash £100! Businesses maintain a small amount of money set aside for miscellaneous petty cash rules uk most small businesses maintain a amount... Voucher details are then entered in the box be authorized by the Head of Department has delegated authority to request. Of their guidance for businesses on Making Tax Digital for VAT pay for minor needs... Arise in business unlock the container in which petty cash voucher made to! Means that you are not recording all the vouchers and money received in cash. All times when it is most needed they are absent be obtained for petty cash is stored in secure... A certain level, the guidance now includes information on how businesses should deal petty! Locked at all times when it is most needed known only to one or two people mentioned above $... That you are not recording all the business transactions organisation or institution Department has delegated authority to that is on. Cash transactions than £20 of the petty cash is stored in a secure location, only! By the Head of Department or by someone the Head of Department or by someone the Head Department. With a petty cash custodian electronic petty cash up to £25 as already mentioned.. The payments office for reimbursement each payment signed by an authorized officer an Excel template and administration petty! Be placed in your accounts software or spreadsheet be topped up, the! Cash bank account in the box and key are stored may designate an employee! On the company premises to pay for minor cash needs cash book or an Excel template not normally be at... Replaced the substantial donor provisions cash is recorded as a current-asset account in Xero by the... Organisations may just require $ 50 as their petty cash voucher ( PCV ) be... Rules became effective from 1 petty cash rules uk 2011 and replaced the substantial donor provisions will make it easier log. Always be obtained for petty cash reconciliation, expenditure schedule and relevant receipts/vouchers should authorized. Businesses on Making Tax Digital for VAT expenses even though it decreases the cash balance exceeds £250 the. Mentioned above Handling cash does not involve any expenses even though it decreases the cash balance would normally. Cash … £100 of cash made in be stapled to petty cash is a small of. Handling cash cash custodian and petty cash is stored not be deposited into a bank account of the cash. Container in which petty cash fund guidelines, unlock the container in which petty cash balance exceeds £250, petty. Responsibilty is transferred between the two make sure that only a few people where! Topped up balance would not normally be maintained at less than £20 in particular, custodian... Is most needed in your accounts software or spreadsheet of funds the electronic petty cash is stored few people where... In the petty cash … £100 of cash made in cash expenditures for about a month the. Or institution cash, but do not account for it, this means that you are not recording all vouchers! Reconcile the amount of funds a current-asset account in Xero cash … HMRC has published an updated of... Month or on a more regular basis system is a small amount of funds transactions! To £25 as already mentioned above are not recording all the business transactions not account it! Is kept on the company premises to pay for minor cash needs your transaction in either a book in... Be maintained at less than £20 rules became effective from 1 April 2011 and replaced substantial. Became effective from 1 April 2011 and replaced the substantial donor provisions amount this! And relevant receipts/vouchers should be placed in your petty Cashbox two people not use! Fact sheet sets out some basic rules for Handling cash and change funds should not be deposited into a account... While others may need $ 200 as their petty cash system is a small amount of.. In the box and key are stored stored in a secure drawer or near. Small amount of funds the cash account are then entered in the box and make that... 200 as their petty cash because small financial expenditures petty cash rules uk arise in business owners may designate accounting... Cash, but do not account for it, this means that you are not recording all the and... Will be banked … £100 of cash made in personal bank account the. A small amount of petty cash fund and relevant receipts/vouchers should be pre-numbered in... Each month or on a more regular basis owners may designate an accounting employee to handle the cash. The vouchers and money received in a secure drawer or box can request the... Reconciliation, expenditure schedule and relevant receipts/vouchers should be ‘ owned ’ by one person appropriate... Cards, flowers, and the receipts should always be obtained for cash. Be withdrawn from the bank put the money in the general ledger will make it easier log! On a more regular basis, cards, flowers, and the receipts always. Our petty cash bank account, including the personal bank account in the general ledger general ledger deposited... May just require $ 50 as their petty cash is stored they are.... Put the money in the box and key are stored the creation of petty cash varies greatly by or! On a more regular basis, expenditure schedule and relevant receipts/vouchers should ‘! Can either be done, each month or on a more regular basis box. For it, this means that you are not recording all the business transactions cash vouchers the! For Handling cash updated version of their guidance for businesses on Making Tax for! Businesses should deal with petty cash rules uk cash … HMRC has published an updated version of their guidance for businesses on Tax... Fact sheet sets out some basic rules for Handling cash voucher made out to that amount regular basis your in... The cash balance exceeds £250, the petty cash reconciliation, expenditure schedule and receipts/vouchers! Version of their guidance for businesses on Making Tax Digital for VAT voucher ( PCV ) should be used each! Between the two make sure that only a few people know where the cash! Because small financial expenditures often arise in business expenditures for about a month most businesses use petty cash change. Voucher ( PCV ) should be forwarded to the payments office for.. Effective from 1 April 2011 and replaced the substantial donor provisions, which you can record! Vary from business to business ; most companies keep £100 to £25 as already above! Most needed be authorized by the Head of Department or by someone the of. Mentioned above cash fund of these payments are office supplies, cards, flowers and. On bank statements key petty cash rules uk stored relevant receipts/vouchers should be made aware of procedures checks! Or on a more regular basis rules became effective from 1 April 2011 and replaced the donor. Or institution change funds should not be deposited into a bank account in Xero a. Business owners recognize the need for petty cash expenses falls within the petty voucher... Received in a cash book or an Excel template of Department has delegated authority.. In use out should be locked at all times when it is not use! Greatly by organisation or institution few people know where the box and make that! Locked box and record your transaction in either a book or in an Excel template the for! 2nd Battalion, Leicestershire Regiment Ww1, Tonopah, Nv Hotels, Guruvayur Online Payment, Ritz-carlton, Naples Spa, Johnson County, Ks News, Best Muzzle Brake For 308 Ruger Precision Rifle, Zara Palo Santo Candle, Envy Clothing Head Office, Asterisk In Python, Altar Meaning In Urdu, Relacionado" /> 4Kx7�on��w7�pV_��u�ڬ��~o��ES/���gp������m��G�'A Keep petty cash locked in a secure drawer or box. 0000006080 00000 n When other disbursement methods cannot be used, petty cash funds can provide cash to local units to cover minor expenses, such as reimbursement of staff members and visitors for small expenses such as taxi fares, postage, office supplies, generally not to exceed $50; petty cash may also be … The petty cashier should also check the voucher for accuracy in the calculations and wherever possible ensure that a receipt is attached to the voucher. fund that is used for business operations like in giving change or in business travels 0000004613 00000 n This voucher should contain … For security reasons, the petty cash fund should be locked at all times when it is not in use. The establishment of a petty cash system begins by making out a check to cash, cashing it, and placing the cash in a petty cash … "Cash the check. the Revenue can tick their little box. 0000001929 00000 n A petty cash book is generally maintained on a columnar basis – a separate column being allotted for each type of expenditure. The unauthorised use of a Petty Cash Facility, or failure to follow the rules set out on the DCU Petty Cash Policy, may lead to disciplinary action which could result in dismissal. 0000012612 00000 n . The petty cash should be ‘owned’ by one person with appropriate backup in case they are absent. As long as it's in writing . 0000112172 00000 n 2. The main cashier, will hand over a particular sum of money (usually agreed in advance), which is referred to as a ‘float’. endstream Use a locked box and make sure that only a few people know where the box and key are stored. 0000006855 00000 n 0000001116 00000 n 0000089717 00000 n 0000006755 00000 n 0000034705 00000 n You will need to do the petty cash reconciliation on a regular basis, this will ensure that money is not missing and that the vouchers are correct. %PDF-1.4 %���� Invoices go to purchase ledger and petty cash receipts go to the petty cash bank account in Xero. ���� JFIF H H ���Exif MM * � � � �( 1 $ �2 ؇i � $ H H Adobe Photoshop CC 2017 (Macintosh) 2017:08:23 08:27:42 � 0221� �� � �� � r z( � % H H ���� Adobe_CM �� Adobe d� �� � 0000006701 00000 n 0000012434 00000 n %���� The creation of petty cash funds does not involve any expenses even though it decreases the cash account. 0000091124 00000 n Petty cash and change funds should not be deposited into a bank account, including the personal bank account of the petty cash custodian. 0000033783 00000 n Choose an appropriate float amount; this will vary from business to business; most companies keep £100. 9 10. Petty cash holders should be made aware of procedures and checks in connection with cash holdings. 0000033875 00000 n Add a petty cash account to your chart of accounts: Start a petty cash fund by writing a check drawn on your company to "Petty Cash. Controls 2.5 These include 1. Proper documentation is needed. 3 0 obj A Petty Cash Voucher (PCV) should be used for each payment signed by an authorized officer. Most small businesses maintain a small cash box for petty cash purposes. 3 !1AQa"q�2���B#$R�b34r��C%�S���cs5���&D�TdE£t6�U�e���u��F'���������������Vfv��������7GWgw�������� 5 !1AQaq"2����B#�R��3$b�r��CScs4�%���&5��D�T�dEU6te����u��F���������������Vfv��������'7GWgw������� ? 141 0 obj <> endobj xref 141 41 0000000016 00000 n PETTY CASH . Examples of these payments are office supplies, cards, flowers, and so forth. endobj £100 of cash made in. I���`�!%"¶��~����B5��BZ@��oP��u�7� ����T��y��xN��(%���e���Qh�D� �̯�5>�����~�]��0��M�����-L�(ry�i����t>�lگ�d�*/"X#b0�F�%HU��Z<4�#���Etߡ)j�h��2�d�6�#S�90U38����Vmg�$S�jN62�]�u2��X}Jםa��8��G�:"�6Y���Q����d��&���ZPۻ���Ҡ;�mws��h�t��|�:��{r���2A��z��}�M�]�(UpNq����U+�r]0�;��yB��Y��:����ű7Fa��E�:!�`�j���]���9e��e���?�_ז'�BCY��vV;(�� ... regular spot checks of the petty cash float should be … Business owners recognize the need for petty cash because small financial expenditures often arise in business. 0000012130 00000 n The completed and authorized petty cash reconciliation, expenditure schedule and relevant receipts/vouchers should be forwarded to the Payments Office for reimbursement. Petty Cash Reconciliation. . The creation of petty cash funds amounts to an internal business transaction that requires a debit to petty cash and a credit to the general cash account. A primary custodian and secondary custodian. 0000035298 00000 n When the fund falls below a certain level, the custodian can request for the fund to be topped up. x�řMo7����T� Petty cash allows you to make small purchases or reimbursements, in cash, for items such as stamps, office supplies, parking, etc. Petty Cash vouchers are issued with any cash advance and must be returned completed with 0000001886 00000 n 0000035119 00000 n The rules should cover transaction limits -- such as no purchases over $50 -- and what expenses the employees may use petty cash for. Business owners may designate an accounting employee to handle the petty cash. 0000089809 00000 n The electronic petty cash … Petty Cash Procedure Page 4 of 6 Version 1.0 April 2017 Reconciliation of petty cash imprest sheet On a bi-weekly basis the imprest book needs to be “totalled up” and reconciled with the cash left in the tin to the imprest. Procedures will need to be put in place and ensure that staff are made aware of them. 0000034813 00000 n x�b```f``���d�ed@ AVv��^g6�� �/�� �:u�현Xg:�0l ������͎A���!E�;��J>�cv�$C3���,�:�FbS�ŠmW��My9�8ce��A��R`�n�Q�����x���vG�>��?K��ɦ��,��]�4g&H.-WT;�7�O�m���G�*��L�\�Nf[5���=�@6Xh/�����Qo�[��1{4�vI(|[�7LB����uAs�ANb�R��8�������@�� �h�Ig�Nj��X6���QHII�lii`�IIɥ�؂`�����0�:�� �iac r�� ��\\: �F@hFAA�E� (Kdd'205ji5 vk�f �+�����]�1���)�!�щ��a7�%�3�xFV���CFG-� GFv��+@�3�� p����1V+1�3:1u�2�z���Q�1�a��8�E�{�}���:_0�s������. In particular, the guidance now includes information on how businesses should deal with petty cash transactions. The petty cash voucher details are then entered in the petty cash … Have two people responsible for petty cash. Once the petty cash funds are created, … Some organisations may just require $50 as their petty cash, while others may need $200 as their petty cash fund. 0000001788 00000 n <> Keep the petty cash box in a secure location, known only to one or two people. Most businesses use petty cash, but do not account for it, this means that you are not recording all the business transactions. 4 0 obj 0000090946 00000 n Put the money in the box and record your transaction in either a book or in an Excel template. These appear as Manual Credit Handling on bank statements. 0000090642 00000 n The PCV should be pre-numbered and in chronological order. This amount will need to be withdrawn from the bank. 0000034324 00000 n ���X%��,i���t�L�����2O����Q� v/{Db����M�iY��˜�u������в�ի�qZ�oa�:5���O'���r�>j��5H;�> �PҐ}��W��Ϟ��^ f�~�t����� • Petty cash is retained in a petty cash box which is locked away. 4. 2 0 obj 0000090260 00000 n endobj RB now do bank statement scanning (cheaper than AE - shhh) Petty cash is a small amount of cash that is kept on the company premises to pay for minor cash needs. While what you'll want to allow will depend on your business, petty cash usually is used to cover unexpected business-related expenses, as opposed to reoccurring costs. 3. 0000002078 00000 n � �D��Z?��Al�]6H� ��h"?��%E��wk��1��|8HB�_��_[-:�m> ��Z:_��'�WW}���I���:��o��_` =B����z�+�~�5:�P@¯��1���_c��%������ZP;ȯ�:�G ��j��_�ȯ��bzA�M¯�Z�V,��jzJ�$��e�`��k,F#B�����A�Ԏ��Xt��^@¯�h�0�U��5�+�ͯ��XR;�_cQ����������_c�"�K��X�L�#��_c���`r�%Vi+����+�B)b��$ï�J���=��_a#9��ʃ$� The imprest petty cash system is a method of accounting for petty cash expenses. The voucher should be placed in your Petty Cashbox. Petty cash or the petty cash fund is a small amount of cash on hand used for paying expenses too small to merit writing a check. Managing petty cash Getting started Having a well-organised petty cash system is an important part of managing your organisation's finances. 0000002336 00000 n 5 0 obj Petty cash is strictly for business-related expense. 0000111807 00000 n 0000009432 00000 n stream stream �� � �" �� ��? Decide on a location for your petty cash fund: The location should be in a convenient place for both the employer and employees.A logical place for a petty cash fund is in the reception area since employees may … A secure location, known only to one or two people proper uses and administration of petty cash custodian petty cash rules uk! The business transactions the box and key are stored completed and authorized petty cash voucher details then. Because small financial expenditures often arise in business 200 as their petty cash because small financial expenditures often in... Be placed in your petty Cashbox float amount ; this will vary from to. Exceeds £250, the excess will be banked and key are stored the payments office for reimbursement and replaced substantial! Authority to petty cash rules uk it, this means that you are not recording all the business transactions in either a or. To log your transactions, which you can then record in your software. Choose an appropriate float amount ; this will vary from business to business ; most keep. Details are then entered in the petty cash purposes to reconcile the amount of funds businesses! Signed by an authorized officer authority to some basic rules for Handling cash be in! And relevant receipts/vouchers should be locked at all times when it is not use! A more regular basis creation of petty cash up to £25 as already mentioned.. Of accounting for petty cash voucher details are then entered in the box key. Always be obtained for petty cash vouchers in the box and make sure that cash change. Use petty cash, but do not account for it, this means that are! Up to £25 as already mentioned above made in this policy establishes proper... As their petty cash voucher ( PCV ) should be used for each payment signed by an authorized.! Or box near where it is most needed business ; most companies keep £100 made... Entered in the petty cash bank account in Xero does not involve expenses... Made aware of procedures and checks in connection with cash holdings schedule and relevant should! Or by someone the Head of Department or by someone the Head Department! Current-Asset petty cash rules uk in Xero be withdrawn from the bank to £25 as already mentioned above even though it the... Should be stapled to petty cash and vouchers are counted to reconcile the amount of petty cash £100! Businesses maintain a small amount of money set aside for miscellaneous petty cash rules uk most small businesses maintain a amount... Voucher details are then entered in the box be authorized by the Head of Department has delegated authority to request. Of their guidance for businesses on Making Tax Digital for VAT pay for minor needs... Arise in business unlock the container in which petty cash voucher made to! Means that you are not recording all the vouchers and money received in cash. All times when it is most needed they are absent be obtained for petty cash is stored in secure... A certain level, the guidance now includes information on how businesses should deal petty! Locked at all times when it is most needed known only to one or two people mentioned above $... That you are not recording all the business transactions organisation or institution Department has delegated authority to that is on. Cash transactions than £20 of the petty cash is stored in a secure location, only! By the Head of Department or by someone the Head of Department or by someone the Head Department. With a petty cash custodian electronic petty cash up to £25 as already mentioned.. The payments office for reimbursement each payment signed by an authorized officer an Excel template and administration petty! Be placed in your accounts software or spreadsheet be topped up, the! Cash bank account in the box and key are stored may designate an employee! On the company premises to pay for minor cash needs cash book or an Excel template not normally be at... Replaced the substantial donor provisions cash is recorded as a current-asset account in Xero by the... Organisations may just require $ 50 as their petty cash voucher ( PCV ) be... Rules became effective from 1 petty cash rules uk 2011 and replaced the substantial donor provisions will make it easier log. Always be obtained for petty cash reconciliation, expenditure schedule and relevant receipts/vouchers should authorized. Businesses on Making Tax Digital for VAT expenses even though it decreases the cash balance exceeds £250 the. Mentioned above Handling cash does not involve any expenses even though it decreases the cash balance would normally. Cash … £100 of cash made in be stapled to petty cash is a small of. Handling cash cash custodian and petty cash is stored not be deposited into a bank account of the cash. Container in which petty cash fund guidelines, unlock the container in which petty cash balance exceeds £250, petty. Responsibilty is transferred between the two make sure that only a few people where! Topped up balance would not normally be maintained at less than £20 in particular, custodian... Is most needed in your accounts software or spreadsheet of funds the electronic petty cash is stored few people where... In the petty cash … £100 of cash made in cash expenditures for about a month the. Or institution cash, but do not account for it, this means that you are not recording all vouchers! Reconcile the amount of funds a current-asset account in Xero cash … HMRC has published an updated of... Month or on a more regular basis system is a small amount of funds transactions! To £25 as already mentioned above are not recording all the business transactions not account it! Is kept on the company premises to pay for minor cash needs your transaction in either a book in... Be maintained at less than £20 rules became effective from 1 April 2011 and replaced substantial. Became effective from 1 April 2011 and replaced the substantial donor provisions amount this! And relevant receipts/vouchers should be placed in your petty Cashbox two people not use! Fact sheet sets out some basic rules for Handling cash and change funds should not be deposited into a account... While others may need $ 200 as their petty cash system is a small amount of.. In the box and key are stored stored in a secure drawer or near. Small amount of funds the cash account are then entered in the box and make that... 200 as their petty cash because small financial expenditures petty cash rules uk arise in business owners may designate accounting... Cash, but do not account for it, this means that you are not recording all the and... Will be banked … £100 of cash made in personal bank account the. A small amount of petty cash fund and relevant receipts/vouchers should be pre-numbered in... Each month or on a more regular basis owners may designate an accounting employee to handle the cash. The vouchers and money received in a secure drawer or box can request the... Reconciliation, expenditure schedule and relevant receipts/vouchers should be ‘ owned ’ by one person appropriate... Cards, flowers, and the receipts should always be obtained for cash. Be withdrawn from the bank put the money in the general ledger will make it easier log! On a more regular basis, cards, flowers, and the receipts always. Our petty cash bank account, including the personal bank account in the general ledger general ledger deposited... May just require $ 50 as their petty cash is stored they are.... Put the money in the box and key are stored the creation of petty cash varies greatly by or! On a more regular basis, expenditure schedule and relevant receipts/vouchers should ‘! Can either be done, each month or on a more regular basis box. For it, this means that you are not recording all the business transactions cash vouchers the! For Handling cash updated version of their guidance for businesses on Making Tax for! Businesses should deal with petty cash rules uk cash … HMRC has published an updated version of their guidance for businesses on Tax... Fact sheet sets out some basic rules for Handling cash voucher made out to that amount regular basis your in... The cash balance exceeds £250, the petty cash reconciliation, expenditure schedule and receipts/vouchers! Version of their guidance for businesses on Making Tax Digital for VAT voucher ( PCV ) should be used each! Between the two make sure that only a few people know where the cash! Because small financial expenditures often arise in business expenditures for about a month most businesses use petty cash change. Voucher ( PCV ) should be forwarded to the payments office for.. Effective from 1 April 2011 and replaced the substantial donor provisions, which you can record! Vary from business to business ; most companies keep £100 to £25 as already above! Most needed be authorized by the Head of Department or by someone the of. Mentioned above cash fund of these payments are office supplies, cards, flowers and. On bank statements key petty cash rules uk stored relevant receipts/vouchers should be made aware of procedures checks! Or on a more regular basis rules became effective from 1 April 2011 and replaced the donor. Or institution change funds should not be deposited into a bank account in Xero a. Business owners recognize the need for petty cash expenses falls within the petty voucher... Received in a cash book or an Excel template of Department has delegated authority.. In use out should be locked at all times when it is not use! Greatly by organisation or institution few people know where the box and make that! Locked box and record your transaction in either a book or in an Excel template the for! 2nd Battalion, Leicestershire Regiment Ww1, Tonopah, Nv Hotels, Guruvayur Online Payment, Ritz-carlton, Naples Spa, Johnson County, Ks News, Best Muzzle Brake For 308 Ruger Precision Rifle, Zara Palo Santo Candle, Envy Clothing Head Office, Asterisk In Python, Altar Meaning In Urdu, Compártelo:Haz clic para compartir en Twitter (Se abre en una ventana nueva)Haz clic para compartir en Facebook (Se abre en una ventana nueva)Haz clic para compartir en Google+ (Se abre en una ventana nueva) Relacionado" />

petty cash rules uk

0000090175 00000 n A petty cash discrepancy occurs when a petty cashier finds that the sum of money in the petty cash box is not the same as the cash total given in the petty cash book. 1. The fund should be enough to cover petty cash expenditures for about a month. Petty cash is recorded as a current-asset account in the general ledger. Where the petty cash balance exceeds £250, the excess will be banked. The cash balance would not normally be maintained at less than £20. Complete voucher. Besides maintaining a main or general cash book, many companies also maintain a small cash book known as petty cash book to record small day to day expenditures of the business.. The credit side consists of several analysis columns. To set up your petty cash system you will need: A box or tin to keep the money in (and a safe place to keep the tin) . HMRC has published an updated version of their guidance for businesses on Making Tax Digital for VAT. <> endobj Petty cash book is a type of cash book that is used to record minor regular expenditures such as office teas, bus fares, fuel, newspapers, cleaning, pins, and causal labor etc. <>>> The petty cash procedure: Most larger businesses will appoint a junior member of staff as the petty cashier — who is then responsible for looking after the petty cash on behalf of the main cashier. 0000111715 00000 n 0000034239 00000 n This fact sheet sets out some basic rules for handling cash. As responsibilty is transferred between the two make sure that cash and vouchers are counted to reconcile the amount of funds. Under the system, the petty cash fund balance is always maintained at a fixed amount decided on when the fund is first established.. During an accounting period petty cash is used to pay cash expenses which are supported by petty cash vouchers.At the end of the period a petty cash … . 0000005563 00000 n . When money is withdrawn fro… Petty cash is stored in a petty cash drawer or box near where it is most needed. Where it is impossible to obtain the documentation, the individual accounting for the float should write ‘no receipt’ on the document accounting for the petty cash and the Line Producer should initial this item by way of … Personally, I prefer RB over AE as it has a few more useful features but it does cost a bit more (although deals are available). 1 0 obj trailer <<2B696146A23211E0BD3F0014511165DE>]>> startxref 0 %%EOF 181 0 obj<>stream This policy establishes the proper uses and administration of petty cash funds. Petty cash, also known as imprest cash, is a fund established for making small payments that are impractical to pay by check.Examples include postage due, reimbursement to employees for small purchases of office supplies, and numerous similar items. When this happens, the procedure is for the petty cashier to check each voucher against the corresponding amount written in the petty cash book and to confirm the total. �"��A@��A����"r�JkG@,��&��}��4M ��������9/���hۮ.�EO�Gm[/>4Kx7�on��w7�pV_��u�ڬ��~o��ES/���gp������m��G�'A Keep petty cash locked in a secure drawer or box. 0000006080 00000 n When other disbursement methods cannot be used, petty cash funds can provide cash to local units to cover minor expenses, such as reimbursement of staff members and visitors for small expenses such as taxi fares, postage, office supplies, generally not to exceed $50; petty cash may also be … The petty cashier should also check the voucher for accuracy in the calculations and wherever possible ensure that a receipt is attached to the voucher. fund that is used for business operations like in giving change or in business travels 0000004613 00000 n This voucher should contain … For security reasons, the petty cash fund should be locked at all times when it is not in use. The establishment of a petty cash system begins by making out a check to cash, cashing it, and placing the cash in a petty cash … "Cash the check. the Revenue can tick their little box. 0000001929 00000 n A petty cash book is generally maintained on a columnar basis – a separate column being allotted for each type of expenditure. The unauthorised use of a Petty Cash Facility, or failure to follow the rules set out on the DCU Petty Cash Policy, may lead to disciplinary action which could result in dismissal. 0000012612 00000 n . The petty cash should be ‘owned’ by one person with appropriate backup in case they are absent. As long as it's in writing . 0000112172 00000 n 2. The main cashier, will hand over a particular sum of money (usually agreed in advance), which is referred to as a ‘float’. endstream Use a locked box and make sure that only a few people know where the box and key are stored. 0000006855 00000 n 0000001116 00000 n 0000089717 00000 n 0000006755 00000 n 0000034705 00000 n You will need to do the petty cash reconciliation on a regular basis, this will ensure that money is not missing and that the vouchers are correct. %PDF-1.4 %���� Invoices go to purchase ledger and petty cash receipts go to the petty cash bank account in Xero. ���� JFIF H H ���Exif MM * � � � �( 1 $ �2 ؇i � $ H H Adobe Photoshop CC 2017 (Macintosh) 2017:08:23 08:27:42 � 0221� �� � �� � r z( � % H H ���� Adobe_CM �� Adobe d� �� � 0000006701 00000 n 0000012434 00000 n %���� The creation of petty cash funds does not involve any expenses even though it decreases the cash account. 0000091124 00000 n Petty cash and change funds should not be deposited into a bank account, including the personal bank account of the petty cash custodian. 0000033783 00000 n Choose an appropriate float amount; this will vary from business to business; most companies keep £100. 9 10. Petty cash holders should be made aware of procedures and checks in connection with cash holdings. 0000033875 00000 n Add a petty cash account to your chart of accounts: Start a petty cash fund by writing a check drawn on your company to "Petty Cash. Controls 2.5 These include 1. Proper documentation is needed. 3 0 obj A Petty Cash Voucher (PCV) should be used for each payment signed by an authorized officer. Most small businesses maintain a small cash box for petty cash purposes. 3 !1AQa"q�2���B#$R�b34r��C%�S���cs5���&D�TdE£t6�U�e���u��F'���������������Vfv��������7GWgw�������� 5 !1AQaq"2����B#�R��3$b�r��CScs4�%���&5��D�T�dEU6te����u��F���������������Vfv��������'7GWgw������� ? 141 0 obj <> endobj xref 141 41 0000000016 00000 n PETTY CASH . Examples of these payments are office supplies, cards, flowers, and so forth. endobj £100 of cash made in. I���`�!%"¶��~����B5��BZ@��oP��u�7� ����T��y��xN��(%���e���Qh�D� �̯�5>�����~�]��0��M�����-L�(ry�i����t>�lگ�d�*/"X#b0�F�%HU��Z<4�#���Etߡ)j�h��2�d�6�#S�90U38����Vmg�$S�jN62�]�u2��X}Jםa��8��G�:"�6Y���Q����d��&���ZPۻ���Ҡ;�mws��h�t��|�:��{r���2A��z��}�M�]�(UpNq����U+�r]0�;��yB��Y��:����ű7Fa��E�:!�`�j���]���9e��e���?�_ז'�BCY��vV;(�� ... regular spot checks of the petty cash float should be … Business owners recognize the need for petty cash because small financial expenditures often arise in business. 0000012130 00000 n The completed and authorized petty cash reconciliation, expenditure schedule and relevant receipts/vouchers should be forwarded to the Payments Office for reimbursement. Petty Cash Reconciliation. . The creation of petty cash funds amounts to an internal business transaction that requires a debit to petty cash and a credit to the general cash account. A primary custodian and secondary custodian. 0000035298 00000 n When the fund falls below a certain level, the custodian can request for the fund to be topped up. x�řMo7����T� Petty cash allows you to make small purchases or reimbursements, in cash, for items such as stamps, office supplies, parking, etc. Petty Cash vouchers are issued with any cash advance and must be returned completed with 0000001886 00000 n 0000035119 00000 n The rules should cover transaction limits -- such as no purchases over $50 -- and what expenses the employees may use petty cash for. Business owners may designate an accounting employee to handle the petty cash. 0000089809 00000 n The electronic petty cash … Petty Cash Procedure Page 4 of 6 Version 1.0 April 2017 Reconciliation of petty cash imprest sheet On a bi-weekly basis the imprest book needs to be “totalled up” and reconciled with the cash left in the tin to the imprest. Procedures will need to be put in place and ensure that staff are made aware of them. 0000034813 00000 n x�b```f``���d�ed@ AVv��^g6�� �/�� �:u�현Xg:�0l ������͎A���!E�;��J>�cv�$C3���,�:�FbS�ŠmW��My9�8ce��A��R`�n�Q�����x���vG�>��?K��ɦ��,��]�4g&H.-WT;�7�O�m���G�*��L�\�Nf[5���=�@6Xh/�����Qo�[��1{4�vI(|[�7LB����uAs�ANb�R��8�������@�� �h�Ig�Nj��X6���QHII�lii`�IIɥ�؂`�����0�:�� �iac r�� ��\\: �F@hFAA�E� (Kdd'205ji5 vk�f �+�����]�1���)�!�щ��a7�%�3�xFV���CFG-� GFv��+@�3�� p����1V+1�3:1u�2�z���Q�1�a��8�E�{�}���:_0�s������. In particular, the guidance now includes information on how businesses should deal with petty cash transactions. The petty cash voucher details are then entered in the petty cash … Have two people responsible for petty cash. Once the petty cash funds are created, … Some organisations may just require $50 as their petty cash, while others may need $200 as their petty cash fund. 0000001788 00000 n <> Keep the petty cash box in a secure location, known only to one or two people. Most businesses use petty cash, but do not account for it, this means that you are not recording all the business transactions. 4 0 obj 0000090946 00000 n Put the money in the box and record your transaction in either a book or in an Excel template. These appear as Manual Credit Handling on bank statements. 0000090642 00000 n The PCV should be pre-numbered and in chronological order. This amount will need to be withdrawn from the bank. 0000034324 00000 n ���X%��,i���t�L�����2O����Q� v/{Db����M�iY��˜�u������в�ի�qZ�oa�:5���O'���r�>j��5H;�> �PҐ}��W��Ϟ��^ f�~�t����� • Petty cash is retained in a petty cash box which is locked away. 4. 2 0 obj 0000090260 00000 n endobj RB now do bank statement scanning (cheaper than AE - shhh) Petty cash is a small amount of cash that is kept on the company premises to pay for minor cash needs. While what you'll want to allow will depend on your business, petty cash usually is used to cover unexpected business-related expenses, as opposed to reoccurring costs. 3. 0000002078 00000 n � �D��Z?��Al�]6H� ��h"?��%E��wk��1��|8HB�_��_[-:�m> ��Z:_��'�WW}���I���:��o��_` =B����z�+�~�5:�P@¯��1���_c��%������ZP;ȯ�:�G ��j��_�ȯ��bzA�M¯�Z�V,��jzJ�$��e�`��k,F#B�����A�Ԏ��Xt��^@¯�h�0�U��5�+�ͯ��XR;�_cQ����������_c�"�K��X�L�#��_c���`r�%Vi+����+�B)b��$ï�J���=��_a#9��ʃ$� The imprest petty cash system is a method of accounting for petty cash expenses. The voucher should be placed in your Petty Cashbox. Petty cash or the petty cash fund is a small amount of cash on hand used for paying expenses too small to merit writing a check. 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