Generally accepted accounting principles include three sets of rules that apply to and cover most every accounting transaction. Petty cash reconciliations, which occur monthly or before replenishing a ...

Business owners regularly audit the petty cash fund set aside for small incidental expenses such as cards for employees who suddenly fall ill or a few office supply purchases between bulk orders. An ...

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Petty Cash accounts are approved when a need is established and documented by the department head. Those reasons include, but are not limited to, frequent, small dollar transactions not able to be ...

Petty cash is generally requested and used for two purposes: small purchases of approved miscellaneous expenditures and/or ‘cash drawer change’ fund activity. A separate Petty Cash Request Change form ...