“Where Education Comes To Life”
2
Write a policy for use of petty cash in this office. Include items you think might be paid from a petty cash fund.
Petty Cash Policy
PURPOSE
This policy defines the policies and procedures to be followed when starting, administering and ending the use of petty cash funds for small incidental cash purchases by employees for an amount up to $100.00.
The company’s policy is to create a petty cash fund for a department when appropriate to improve operations based on providing availability to cash for small purchases of products and services where it is not practical or efficient to make the purchase through the normal process of a purchase order.
SECURING THE PETTY CASH ACCOUNT
All cash and vouchers for expenditures must be held in a …show more content…
Complete a petty cash voucher issued by the department manager
3. Obtain petty cash funds for the equivalent amount of the petty cash voucher
4. Make the purchase and obtain a receipt
5. Provide the receipt to the department manager
If an employee does not obtain petty cash funds prior to the purchase, the employee should complete voucher, submit receipts and receive reimbursement as soon as possible after purchase is made.
REIMBURSING PETTY CASH ACCOUNT
Reimbursement of the petty cash fund must be completed at least once per month regardless of the petty cash fund must be completed at least once per month regardless of the month. Additionally, the petty cash fund must be reimbursed at year end. All reimbursement requests must be made by making a request to accounts payable.
“Where Education Comes To Life”
3
A reimbursement request must include the department, each receipt along with the corresponding account code to be applied against. Overage and shortages must be applied against the appropriate account as well.
TRANSFERRING CUSTODIANS
When responsibility of the petty cash fund is transferred to another person, the original custodian must replenish the fund to its original cash balance by
2
Write a policy for use of petty cash in this office. Include items you think might be paid from a petty cash fund.
Petty Cash Policy
PURPOSE
This policy defines the policies and procedures to be followed when starting, administering and ending the use of petty cash funds for small incidental cash purchases by employees for an amount up to $100.00.
The company’s policy is to create a petty cash fund for a department when appropriate to improve operations based on providing availability to cash for small purchases of products and services where it is not practical or efficient to make the purchase through the normal process of a purchase order.
SECURING THE PETTY CASH ACCOUNT
All cash and vouchers for expenditures must be held in a …show more content…
Complete a petty cash voucher issued by the department manager
3. Obtain petty cash funds for the equivalent amount of the petty cash voucher
4. Make the purchase and obtain a receipt
5. Provide the receipt to the department manager
If an employee does not obtain petty cash funds prior to the purchase, the employee should complete voucher, submit receipts and receive reimbursement as soon as possible after purchase is made.
REIMBURSING PETTY CASH ACCOUNT
Reimbursement of the petty cash fund must be completed at least once per month regardless of the petty cash fund must be completed at least once per month regardless of the month. Additionally, the petty cash fund must be reimbursed at year end. All reimbursement requests must be made by making a request to accounts payable.
“Where Education Comes To Life”
3
A reimbursement request must include the department, each receipt along with the corresponding account code to be applied against. Overage and shortages must be applied against the appropriate account as well.
TRANSFERRING CUSTODIANS
When responsibility of the petty cash fund is transferred to another person, the original custodian must replenish the fund to its original cash balance by