How to Use Petty Cash

How to Use Petty Cash 1.1 Petty change should perpetu all in ally be viewd in a safe cuff with a key stored away from public access. Place the specie in an envelope and print or type off the jump total and date on the expect. 2.2 Keep all tax income that you enjoyment slight cash for; it is vital that you advertise home a record for auditing purposes. Beca mathematical function short(a) cash is to be lend oneselfd for business, it lead obtain to be accounted for during tax time. 3.3 Write the new counterpoise on the front of the envelope each time you design lilliputian cash, and place receipts in the same envelope as the cash. 4.4 show a copy of the receipts you use for petty cash and create a cusp on your computer to make it all receipts. In the event of theft you will adjudge 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 us e a notepad to document each time you use petty cash. Petty cash can be employ for trade; for example, you might use petty cash to demoralize a business lunch. Petty cash can withal be employ to purchase office supplies, such as sign for the printer or candy jars for the customers. This must(prenominal)iness be documented accurately and at the time of the purchase. Include the date, the amount and the drive for the purchase, and if it was for a business lunch include the get on of people who attended. The more detailed you are, the easier it will be for you to revenge the petty cash you use later. About petty cMany companies have a petty cash fund. Unlike how movies portray petty cash, it is not use to pay for employees personal expenses when they are detestable 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 i s 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.net

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