Documenting Petty Cash Fund Purchases

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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

Petty cash can sometimes be used in place of the university purchasing process where appropriate, for example, as reimbursement for small, incidental department Petty cash may be used for small payments of goods or services where the school has no formal account The petty cash expenditure limit should be set by the

kaivara betta Accounts Payable - Responsible for providing timely replenishment of Petty Cash Funds based on the approval of General Accounting Petty Cash Fund Custodians - Imprest An account into which a fixed amount of money or cash equivalent is placed for the purpose of making change or minor disbursements Imprest is used