The usual way to do petty cash is the imprest system. You have an imprest (a set amount of cash) in the cash box and when someone needs cash, you take it from there and fill in a petty cash voucher for that amount to say what it was for. So the cash in the box plus the total of the vouchers always equals the imprest. When the cash is running out, you ask for more to make up the imprest and the accountant takes the vouchers, and they can write up "the books" from them.
That's the usual way but I have no way of knowing if your organisation does it differently.
The only deposit going into the petty cash fund is the check to replenish the fund.
All other deposits are processed according to the receipt procedures.
Hi all,
I really need your help here ASAP!
I have just started my job and in the training I learnt so many things, loads!
One of them was to do the petty cash, now our organisation takes cheques for payments and I am in the big doubt of should I log in the petty cash book the cheques like that and get them counted with the cash??
I am really confused and totally blocked.
Would any of you help me in what to do? I don't want to ask my manager and she kicks me out! Lol
Thank you in advance for all the helps!
