Petty Cash by wL77Z5x


									         Petty Cash
Intermediate Administration
               Outcome 3
Petty Cash
   The word ‘petty’ means small
   Petty cash is small amounts of cash used to
    pay for small items such as:
       Stationery
       Stamps
       Travel expenses
       Window cleaning
       Tea/coffee/milk etc
   The amount of money held in petty cash box
    will be relative to size of organisation

   Before being issued with money from petty
    cash, employees should complete a petty
    cash voucher

   This will be checked and signed by an
    authorised person
   Admin assistant in charge of petty cash must
    not pay out money without an authorised

   On receipt of money the recipient should sign
    voucher and Admin assistant will store
    voucher (with receipt if possible) in petty cash
    box with remaining cash
   At end of week, petty cash vouchers and
    remaining balance in box should be checked

   Once it is balanced, the petty cash should be
    restored to original balance

   This is known as the IMPREST
   Complete task 19 in red books (page 45)
Petty Cash vouchers
   Look at page 45 of your notes to see an
    example of a petty cash voucher

   The main features are the voucher number,
    date and details of amount issued, signature
    of recipient and authorised person.
Petty Cash Statement
   The Admin assistant is responsible for
    keeping a record of all cash received and
    issued in the petty cash statement. This is
    used to balance the petty cash at the end of
    the week and calculate the imprest.

See example of petty cash statement on Page
 46 of your notes.
   Complete task 20 in red books (page 46 - 47)
   Copy table neatly into a new page in your
    jotter – USE A RULER!

   Extension Task
   E-diary task worksheet

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