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Kingston District Council FA016 Petty Cash Policy and Procedure Keywords: Reference Number: FA016 Strategic Plan: Classification: Finance & Administration Policy and Procedure First Issued/Approved:
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How to fill out a petty cash policy:

01
Start by including a clear title at the top of the document, such as "Petty Cash Policy."
02
Begin with an introduction that explains the purpose of the policy and its importance in managing petty cash funds.
03
Define the term "petty cash" and establish the maximum amount that can be disbursed from the petty cash fund for each transaction.
04
Outline the process for requesting petty cash, including who is authorized to make withdrawals and how the requests should be submitted.
05
Specify the acceptable uses of petty cash funds and any restrictions or limitations in place.
06
Provide guidelines on how to properly document each petty cash transaction. This should include the date, amount, purpose, and recipient of the funds, as well as any supporting documentation required.
07
Detail the process for reconciling and replenishing the petty cash fund. Explain how often the fund should be reviewed, who is responsible for the reconciliation, and how any discrepancies should be addressed.
08
Include a section on security measures to safeguard the petty cash fund, such as keeping it in a secure location and limiting access to authorized personnel.
09
Outline any consequences for non-compliance with the policy, including disciplinary actions or loss of access to the petty cash fund.

Who needs a petty cash policy:

01
Small businesses or organizations that frequently handle small cash transactions.
02
Departments or individuals within larger organizations who require access to petty cash for minor, immediate expenses.
03
Any entity that wants to implement proper controls and accountability measures for the management of petty cash funds.
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Petty cash policy is a set of guidelines and procedures for managing and controlling small amounts of cash within a business.
Any business that has a petty cash fund should have a petty cash policy in place.
To fill out a petty cash policy, you would need to outline the procedures for requesting, approving, disbursing, and reconciling petty cash transactions.
The purpose of a petty cash policy is to ensure that the use of petty cash is properly documented and controlled.
The petty cash policy should include details on the maximum amount of cash that can be held in the fund, procedures for requesting and approving petty cash disbursements, and guidelines for documenting and reconciling petty cash transactions.
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