Petty Cash: Meaning, Accounting, Management, and Examples
Petty Cash: Meaning, Accounting, Management, and Examples
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
A small amount of cash is used to pay for minor expenses and must be refilled The custodian collects all the receipts and slips given to different organization 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
spr login mp Petty cash refers to the fund that businesses keep on hand to cover minor expenses or make small purchases Read the examples of petty cash Set up cash accounts · Go to Cash and bank management > Petty cash > Cash accounts · Enter the following information Expand table Field
