Liquidating petty cash advances

A reimbursement request must include the department, each receipt along with the corresponding accounting code to be applied against.

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This site uses cookies to store information on your computer.Usually a custodian is appointed to administer the petty cash and it is his/her duty to account for the expenses incurred out of petty cash fund.Whenever the custodian makes any payment from the fund to an employee or a customer etc., he or she must record the amount being disbursed, the name of the person to whom the payment is being made and the reason for the disbursement.Topics include securing, creating, payments and vouchers, reimbursing, transferring and closing a petty cash account.PURPOSE This policy defines the policies and procedures to be followed when starting, administering and ending the use of petty cash funds for small incidental cash purchases by employees for an amount up to 0.

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