What is Petty cash?

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As the petty cash is used and the fund diminishes, it is replenished to the original fixed amount This is typically done by submitting the recorded expenses

Any time a member of your team takes some petty cash for a purchase, they should record it in the log book with details about how much was taken A small amount of cash is used to pay for minor expenses and must be refilled The custodian collects all the receipts and slips given to different organization

narendra prasath native place Petty cash is a small amount of cash belonging to a business and kept on its premises Typically, petty cash will be used for small incidental office costs As the petty cash is used and the fund diminishes, it is replenished to the original fixed amount This is typically done by submitting the recorded expenses