What Is the Purpose of Petty Cash?

Answer

The purpose of petty cash is for expenditures within the company or office, where it is not sensible to make any disbursement by cheque. Petty cash is usually used due to the inconveniences caused by cashing a cheque to procure a particular necessity in the office.
Q&A Related to "What Is the Purpose of Petty Cash"
Set up your petty cash fund with an amount of cash that will cover several weeks' worth of minor business purchases, such as stamps or copying costs. Withdraw the money for your petty
http://www.ehow.com/info_7755208_petty-cash-book.h...
Its a miscellaneous small fund usually budgeted for that is to be used for unknown minor items that may occur that you don't have time or need to go thorugh the processes of writing
http://wiki.answers.com/Q/What_is_a_petty_cash_tra...
Petty cash is a small fund of cash that a firm keeps for the payment of incidental
http://www.chacha.com/question/what-is-a-petty-cas...
Minimal amount of money kept on hand by a business entity to meet small expenditures (e.g., postage, taxi fare). One individual (custodian) should be responsible for the fund to maintain
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1 Additional Answer
Petty cash is fund issued to departments within a business and it is stored for minimal expenditures that require immediate reimbursement and for miscellaneous expenses in business.
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You can keep a petty cash book by purchasing a notebook where you will maintain records and label it as appropriate. Next, draw three vertical lines on each page ...
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A petty cash book records a person's expenditure paid either by cash, personal cheque or credit card. In your petty cash book, you should have six columns representing ...
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