How to Use Petty Cash

How to Use Petty Cash
1.1
Petty cash should always be placed in a safe box with a key stored away from public access. Place the money in an envelope and print or type out the jump total and date on the front.
2.2
Keep all tax income that you enjoyment slight cash for; it is vital that you drive home a record for auditing purposes. Beca mathematical function petty cash is to be lend oneselfd for business, it lead have to be accounted for during tax time.
3.3
Write the new counterpoise on the front of the envelope each time you use petty cash, and place receipts in the same envelope as the cash.
4.4
Scan a copy of the receipts you use for petty cash and create a cusp on your computer to save all receipts. In the event of theft you will have record. To create a new folder, right- prattle your mouse, click on new and click on folder. Name the folder petty cash receipts.
5.5
Create a computer spreadsheet or use a notepad to document each time you use petty cash. Petty cash can be employ for marketing; for example, you might use petty cash to demoralize a business lunch. Petty cash can withal be employ to purchase office supplies, such as ink for the printer or candy jars for the customers. This mustiness be documented accurately and at the time of the purchase.



Include the date, the amount and the reason for the purchase, and if it was for a business lunch include the get along of people who attended. The more detailed you are, the easier it will be for you to compensate the petty cash you use later.
About petty cMany companies have a petty cash fund. Unlike how movies portray petty cash, it is not used to pay for employees personal expenses when they are wretched on money or for short-term loans to employees. Instead it is used for unexpected participation expenses. Petty cash is tracked and must be replenished shortly after it is used.
Significance
1.Petty cash is a small amount of accessible cash that a company keeps in its office. This can be very valuable to a company because it is money that does not require...If you want to get a full essay, order it on our website: Orderessay



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