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How do you use petty cash receipts?

The custodian of petty cash should sign the receipt to indicate that he authorized the funds. However, you should also have the recipient sign the receipt. This makes it easier to follow the paper trail if there is a dispute about the amount dispensed from petty cash or the purpose for which it was used.

What is petty cash form?

A petty cash voucher is a standard form used as a receipt whenever cash is withdrawn from a petty cash box. The voucher is typically purchased from an office supply store. It is a physically small form, since it must fit within the petty cash box or drawer.

What happens when petty cash fund is replenished?

Replenishing the petty cash fund means the petty cash custodian requests and receives cash from the company's regular checking account in an amount that will return the cash on hand to the amount shown in the general ledger account Petty Cash.

What does it mean to replenish petty cash?

What is Petty Cash Replenishment? Petty cash replenishment occurs when funds are added to a petty cash box. The amount of the replenishment should be sufficient to bring the cash balance of the cash box back up to its designated balance.

What is difference between cash and petty cash?

The difference between cash and petty cash is that petty cash is the money that you keep on hand to make small payments where you do not want to use a check or credit card, while cash on hand is any accessible cash.

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