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 ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

This guideline describes the procedures for establishing and maintaining a Petty Cash Fund and for receiving reimbursement for certain departmental purchases. Petty cash funds provide departments with ...

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 ...