What Is the Purpose of Petty Cash?


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
A petty cash book is a book of vouchers which are prepared each time a disbursement is made from petty cash. The voucher would show the date, amount, recipient, purpose and general
n. A small fund of money for incidental expenses, as in an office.
Definition: Petty cash. refers to small amounts of cash kept on hand in a business. (The term "petty" comes from "petite, or "small. There are two reasons to keep
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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A petty cash voucher is a form used to track disbursements from an organization's petty cash fund for cash purchases of miscellaneous items. The voucher enables ...
To complete a petty cash book, keep a running tally of cash in the account, deposits, withdrawals and dates. The petty cash book is a summary of trivial expenses ...
The main purpose of a Cash Flow Statement (CFS) is to help the business owner plan and control the flow of income in order to meet scheduled financial obligations ...
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