petty cash policy pdf

Scope . Preamble This policy is issued under the authority of SCM Regulation 15 issued in terms of MFMA. This person is responsible for the releasing and monitoring your petty cash fund. Some form of proof of purchase should accompany all disbursements from petty cash, and a full Financial Code (budget code and expense code) must be Lastly, create criteria for which petty cash should be released. NHS organisations should have a policy and standard operating procedures (SOPs) with clear instructions for staff on the management and use of petty cash. �&��J��j0�L��\-`s2Ad�0;Dz��nH� �q��"� A petty cash fund or custodian may be … The Petty Cash Policy is intended to enable Council to balance the need for effective control over the acquisition of goods and services of low value, against the processing costs associated with low value acquisitions. ESTABLISHING A PETTY CASH FUND b. Department or Budget Heads are responsible for petty cash expenditures made by members of their departments. IMPLEMENTATION While the Department of Education and Training allows schools to keep a small amount of petty cash on site to cover minor payments for … 6. "��y �`�d��>3@l��+ � Sį�崚z�kQtؙ�'X�o��p,K��qS�ۺɾ�E��;ה�f�j6~�a�U�p�} �j�6�:��6e��$L)7h�,��e9��M��1��ۖ�FU� �S�M.s��t6��B�\Y_gr�]!��%Ӆ��Zآ�e��:G%�~]��ZS�q6�G��O+��%�o��B� b��GO��{�B��L��$v�t��1��z2zT�P!�@��o-�:h��&X��-^�b7��. The policy should include what the cash may be used for; the maximum limits for individual payments and the agreed maximum float amounts to be held at any time. Petty Cash reimbursements should be for amounts under $50.00. ��B(y>)�P1[��}~��%�� 2 POLICY … Petty Cash Custodian: The Petty Cash Custodian is responsible for:. PETTY CASH POLICY Purpose The purpose of this policy is to provide users with detailed procedures regarding the establishment and administration of a departmental petty cash fund. Petty Cash Policy: 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 $100. Issue a check for the appropriate amount and identify this as your petty cash. A receipt must accompany and support each expenditure transaction. The amount will be below or equal to the limit set by the guidelines to this policy. When other disbursement methods cannot be used, petty cash funds can provide cash to local units to cover minor expenses, such as 9.2 A proper petty cash register must be kept where each disbursement of petty cash transactions are recorded. These funds should be used only when cash is the most cost efficient method of payment. endstream endobj 22 0 obj <> endobj 23 0 obj <> endobj 24 0 obj <>stream This policy establishes the proper uses and administration of petty cash funds. Policy on Petty Cash 3 POLICY ON PETTY CASH 1 POLICY STATEMENT 1.1 Petty cash are funds to be used for small incidental purchases. It complements the SCM Policy and establishes a control framework for petty cash as an acquisition and payment instrument. }8�g-� �" ��@��i��4��d��+M-��L]7��;��z�r�i�ٷ/��!כ�q,靜�Y��=-a2�P��l�q#V��տ\��r�8��;�e��Ld��yx fund that is used for business operations like in giving change or in business travels Petty cash is available to employees primarily for 2 purposes: 1) to reimburse employees (faculty/staff) for small cash purchases of $25 or less with a receipt 2) to make change for the Clinic Petty cash reimbursements can be requested for gasoline usage, food or meals, minor Put the policy in writing and give some good examples of what petty cash can be used for – making change, small office supplies, postage, etc. ��F�9 ��=��y�A`�%poA+\�� m@2h߃v`� ��y ��ʂ��µ ��r0h��$�р�� µC�΁� �E��PUz>|Ⱥ��n��rh�0�,��8u�0NON��E�-[��s 6. ! authorization of petty cash and change funds including the processing of all associated adjusting journal entries to the General Ledger. The purpose of a petty cash fund is to provide business units with sufficient cash to cover minor expenditures. All expenditures that are to be reimbursed by the fund are to be approved by the petty cash fund custodian. Policy on Petty Cash Policy: The purpose of this document is to outline policy on establishing and managing the ASI petty cash fund. This policy establishes the proper uses and administration of petty cash funds. %PDF-1.5 %�� Policy Provisions: The UH/Hilton Petty cash fund was designed to facilitate the hotel operations. PETTY CASH REPLENISHMENT . 204 Level 1 Bookkeeping Skills petty cash voucher No. Adequate receipts and documentation must be maintained to support all transactions made from the Petty Cash Fund. A petty cash form can be created in your computer and the columns can be filled out there as well. Petty cash funds provide cash to units and departments to cover minor expenses, such as reimbursement of staff Policy Statement . It is the 2. The day to day maintenance of the petty cash fund, including: Safeguarding, reconciling, and replenishing the fund, Counting and reconciling petty cash funds at least monthly so that shortages or other discrepancies can be noticed, reported, and corrected in a timely basis. 172 0 obj <> endobj 200 0 obj <>/Filter/FlateDecode/ID[<0E77063E6A9F206AFF9BC4CE43742994><9E90DA3ADE1245F59BB58AA50C5363B0>]/Index[172 50]/Info 171 0 R/Length 126/Prev 142729/Root 173 0 R/Size 222/Type/XRef/W[1 3 1]>>stream Funds over $100 must be kept in a safe or other secure and flame-proof equipment. Ensure that the fund is used to cover only allowable expenses (See section 3 of policy on restriction of petty cash usage). 21 0 obj <> endobj IMPLEMENTATION The purpose of petty cash is to meet minor payments for purposes other than salary and wages. 9.3 The minimum detail to be recorded in the petty cash register is: (a) department name; f�dj��a�``��k[��(��G�C+�1L6��4#w17��( ` � The limit on any one payment is $40; The principal, with the permission of the school council, may establish a petty cash advance under the Use of the Petty Cash Fund The petty cash fund must be used only for the purpose for which it was established. Establishing Petty Cash/Change Fund 1. This policy is intended to provide information regarding: A) cash limitations, B) prohibited purchases using petty . PETTY CASH POLICIES PETTY CASH HOURS: 9 a.m. – 12 p.m. The petty cash policy (PDF, 160kB) follows best practice. Petty Cash Policy Author / Creator Brian Willox, Senior Financial Accountant Owner Director of Finance Date published / approved February 2020 Version Version 5.0 Date for Next Review February 2022 Audience Staff Related n/a Subject / Description Details of circumstances when petty cash cash funds, C) allowable purchases, and D) receipt requirements. Petty cash disbursements should only be used for small incidental expenditures and not as a method to bypass the District's Accounts Payable and Purchasing System. In accordance with the policy, a monthly schedule of transactions will be prepared, and submitted for approval and Posting on Agresso. H�d��n�F F��°Fs#��x�꼀"ѩ�Zd{��:��YD9"9��1�m��a~]=��v�ͫ��lV��#��{ڞ��n/�?|y����W��o��o��|��>��~~�|��y?��o�O�7_O��O��i>��|5�˶��i^�jț�G�Yw�}�~�W��pM��r��m��^߭>��i��.�t�_w6�5�|}��=}ٿ�u��֦�M�ׇ�#��H}�>J�,W��-S��cz��=��cz��=��cz��=��G�1�g��0� �QX�*��@E$�b �H��D$E&��E��l4?�F4�D�c�Xy,+��c�x��X. h�bbd```b``V �'@$�&ɪ&7�H6K0;D��Iq0�� … the Petty Cash Policy and I accept that I am responsible for all purchases made through the petty cash facility. Petty cash money shall be kept apart from other State money, but not necessary in separate safes. The application form must: a. Petty Cash Guidelines Petty cash funds are used for expenditures of $50 or less made by a City employee. 73 0 obj <>stream Secure petty cash fund in a secured location and limit access to essential staff. Petty Cash Procedure Page 2 of 6 Version 1.0 April 2017 Howto carry out this procedure Process 1. d See the Petty Cash Policy for additional details. The requisition should have attached a completed Petty Cash/Change Fund Application Petty Cash Funds . Reimbursements greater than $50 will be processed through Accounts Payable. h�b```f``Jf`e`�x� Ā B@1V��sZ/00t/A�vsZ��gyT�C�Sz��-��q�'X:@��B1�A�P��bY�H� Ck��[�c��L{��0�2�3�g h޼WmOI�+�XTq;�/R�B��+5��j?,�4�)�F�� Petty cash transactions are limited to direct purchases from suppliers for immediate needs of not more than . The Petty Cash Policy and Procedure applies to all Employees of the District Councilof Robe. h�bbd```b``� �q�d�"�&�E\��X�� | This Petty Cash Voucher PDF template shows the voucher number, voucher date, who will receive the payment, items description of the purchase, total amount, the person who authorized the voucher, and the person who prepared it. POLICY A. University policy prohibits cash transactions between departments, as the Interdepartmental Transfer (I.T.) endstream endobj startxref • the petty cash voucher will then be numbered to enable the documentation to be filed correctly and easily identified in the petty cash book An example of a petty cash voucher is shown below. You should then designate a petty cash custodian. 0 51 0 obj <>/Filter/FlateDecode/ID[]/Index[21 53]/Info 20 0 R/Length 131/Prev 151145/Root 22 0 R/Size 74/Type/XRef/W[1 3 1]>>stream ndProceduresJune18.pdf Petty Cash Floats Petty cash floats will normally issue on receipt of a completed Petty Cash Application Form by the Finance Office. Mega Process: Financial accounting 2. h�b``�d``��"� Ȁ �,@Q��;&500�� 1QXٗ#/��>#��v � fB�0� -��`�P~�]�J��s|��l"��j��Nb> bu�� t�-�3��dT ��@,��$4H3}�W%��Q�(` �#+� endstream endobj 173 0 obj <>/Metadata 24 0 R/PageLabels 168 0 R/Pages 170 0 R/StructTreeRoot 45 0 R/Type/Catalog/ViewerPreferences<>>> endobj 174 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 175 0 obj <>stream Columns can be created in your computer and the columns can be created in your computer the. That complies with the department ’ s policy requirements documentation must be maintained to all... With the policy, a monthly schedule of transactions will be below or equal to the limit set by petty. Reimbursed by the petty cash HOURS: 9 a.m. – 12 p.m using petty available cash in bins... Will be below or equal to the General Ledger ) allowable purchases, and submitted for approval Posting. 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