Petty Cash Financial Accounting

Petty cash refers to the notion that every business needs cash on a regular basis to pay for such things as office supplies, mail services,

Petty cash should be logged with journal entries This includes debits to the petty cash account, which are the purchases made, such as supplies, and credits to

paticash Replenish a Petty Cash Fund Petty Cash should be replenished when cash is nearly expended, allowing sufficient time for processing a reimbursement request,

paticash 2 Fixed system of petty cash Unlike the open system, here, the petty cashier is given a fixed amount of money for a fixed amount of period Once the period is