A petty cash fund is an amount of cash that a business uses to make small, miscellaneous purchases. Using cash for business purchases is not only inconvenient but also carries the risk of loss, theft and fraud. est 1. Petty cash is money that is kept in the office of a company, for making small payments in cash when necessary. Petty Cash Book – Definition.

After having her expense claims overruled, she took the money from petty cash . Petty cash is money that is kept in the office of a company, for making small payments in cash when necessary. Petty cash is a relatively small amount of cash that businesses, organizations or institutions set aside for reimbursements on small purchases made by employees of the business.

Petty Cash Book is maintained to record small expenses such as postage, stationery, telegram. A minimal amount of cash kept on hand to pay for small expenditure items ($25 and under) when a procurement card cannot be used. The purchases made using petty cash are just too small to be put through the rigorous purchase and reimbursement procedures common in most companies. petty cash: Relatively small amount of cash kept at hand for making immediate payments for miscellaneous small expenses. Companies normally use checks to pay their obligations because checks provide a record of each payment, but they also maintain a petty cash fund to pay for small, miscellaneous expenditures.

Petty cash definition, a cash fund for paying small charges, as for minor office supplies or deliveries. Information and translations of petty cash in the most comprehensive dictionary definitions resource on the web. Learn more. See Synonyms at trivial. However, petty cash may be easily stolen by outsiders as well as employees within the organization. Petty Cash Book – Definition. Petty Cash Transaction A petty cash transaction is one in which an employee or business owner takes money out of the petty cash fund for the purpose of buying something for the business. How to use petty in a sentence. Definition of Petty Cash. Many businesses rely on a petty cash fund to fulfill employee expenses. Definition and Explanation: In almost all businesses, it is found necessary to keep small sums of ready money with thecashier or petty cashier for the purpose of meeting small expenses such as postage, telegrams, stationary and office sundries etc. Synonyms for petty cash at Thesaurus.com with free online thesaurus, antonyms, and definitions. Petty Cash Book is maintained to record small expenses such as postage, stationery, telegram. Petty Cash Funds Policy 3-011 General Purpose of Petty Cash Funds – Petty Cash is intended for… Petty cash works on the imprest system, in which there is an initial amount of money put into an account, which is drawn upon for a specific purpose (in this case, petty cash). Petty cash may be used for paying parking fees, taxi fares, postage stamps, and donuts expenses for client meetings. After having her expense claims overruled, she took the money from petty cash . What Is a Petty Cash? Find descriptive alternatives for petty cash. See more.

Definition of Petty Cash Voucher.

Keeping petty cash is a good idea because it can avoid inconveniences related to writing, costs, and cashing a check. Reloadable petty cash cards serve the same purpose as petty cash without all the risks. A separate column is allotted for each type of expenditure.The difference between the total of the debit items and that of the ‘total column’ on the credit represents the balance of the petty cash in hand. Petty definition is - having secondary rank or importance : minor, subordinate. Petty cash is a store of money that is easily accessible, i.e., in the form of cash, that companies and other organizations keep for expenditure on miscellaneous and small items. Petty cash is a store of money that is easily accessible, i.e., in the form of cash, that companies and other organizations keep for expenditure on miscellaneous and small items. What is a petty cash voucher? The petty cash voucher should provide space for the following: This can be a simple hand written accounting log or an online spread sheet kept up with by the custodian. A separate column is allotted for each type of expenditure.The difference between the total of the debit items and that of the ‘total column’ on the credit represents the balance of the petty cash in hand. Petty Cash Fund Procedures Petty Cash Fund Definition - A small cash fund used to make incidental purchases where normal purchasing methods are not practical.