Petty Cash

Definition & Advantages of Petty Cash paticash The petty cash custodian records all transactions and maintains a running balance The custodian may have to justify the expenditures paticash Imprest Petty Cash: In the imprest system, a fixed, predetermined amount of cash is kept for a certain period, which normally does not fluctuate

paticash Petty cash refers to the amount used to pay for small expenses of a company issuing a check for which seems unreasonable Payment by check involves a long