What is Petty cash?
What is Petty cash?
The petty cash custodian records all transactions and maintains a running balance The custodian may have to justify the expenditures
These Petty Cash funds are intended to be used by state agencies for agency purchases of small, but necessary operating items, not to exceed $, except for Petty cash is a current asset and should be listed as a debit on the balance sheet When first funding a petty cash account, the accountant
university of mumbai assistant professor recruitment Petty cash is a small amount of discretionary funds in the form of cash used for minor expenditures The most common way of accounting for petty cash Companies often use petty cash to make change for customers and pay for small, unexpected expenses such as office supplies or a small repair
