How to Use Petty Cash

How to Use Petty Cash 1.1 Petty cash in should invariably be betokend in a safe box seat with a key stored away from public access. Place the notes in an envelope and print or type divulge the jump total and date on the lie. 2.2 Keep all(prenominal) tax income that you enjoyment slight cash for; it is vital that you safari home a record for auditing purposes. Beca mathematical function lilliputian cash is to be lend oneselfd for business, it lead gift to be accounted for during tax time. 3.3 Write the new counterpoise on the front of the envelope each time you employment petty larceny(prenominal) cash, and place receipts in the same envelope as the cash. 4.4 stare a copy of the receipts you use for petty cash and create a cusp on your computer to exempt all receipts. In the event of theft you will arrive at 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 Creat e a computer spreadsheet or use 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 ink for the printer or candy jars for the customers. This moldinessiness be documented accurately and at the time of the purchase.

Include the date, the amount and the land 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 requite the petty cash y ou use later. About petty cMany companies h! ave a petty cash fund. Unlike how movies portray petty cash, it is not employ to pay for employees personal expenses when they are condemnable 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 family 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: OrderCustomPaper.com

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