Get the free PETTY CASH FUND --- OVERVIEW - scusd

REQUEST FOR PETTY CASH CHECKING ACCOUNT FORM (ACCF001) FOR FISCAL YEAR SACRAMENTO CITY UNIFIED SCHOOL DISTRICT Site×Department Name Amount Requested $ Principal×Site Manager Name PETTY CASH FUND

How to fill out petty cash fund

How to Fill Out Petty Cash Fund:

1. Determine the starting amount: Begin by deciding on the initial amount of money that will be placed in the petty cash fund. This amount should be based on the needs and expenses of your organization or department.
2. Establish a petty cash log: Create a log or register to record all transactions made with the petty cash fund. The log should include columns for the date, purpose of the expense, amount spent, and the name of the person who authorized the disbursement.
3. Documentation and receipts: It is essential to maintain proper documentation for every expense made from the petty cash fund. Ensure that receipts or invoices are collected for each transaction and attached to the corresponding entry in the petty cash log.
4. Replenish when necessary: As the petty cash fund is used for small day-to-day expenses, it is crucial to regularly monitor the balance. When the fund starts to run low, it needs to be replenished to its original amount or as set by your organization's policies.
5. Secure the fund: Since petty cash involves physical cash, it is important to keep it in a secure location, such as a locked drawer or safe. Limit access only to authorized individuals who have the responsibility of managing the petty cash fund.

Who Needs Petty Cash Fund:

1. Small businesses: Petty cash funds are commonly used by small businesses to handle minor expenses that do not warrant writing a check or using a credit card. It provides convenience and flexibility for small purchases like office supplies, postage, or refreshments.
2. Retail stores: Retail establishments often require petty cash funds to handle payments for small refunds, minor cash transactions, or reimbursing employees for small purchases made on behalf of the business.
3. Non-profit organizations: Non-profits often use petty cash funds to cover small expenses related to their programs or daily operations. This allows for quick purchases or reimbursements without relying on lengthy reimbursement procedures.
4. Schools and educational institutions: Petty cash funds are also utilized by schools, colleges, or universities for various purposes, such as reimbursing teachers for classroom supplies, minor repair expenses, or student-related activities.

In summary, filling out a petty cash fund involves determining the starting amount, maintaining a petty cash log, documenting expenses, replenishing the fund, and securing the cash. It is commonly used by small businesses, retail stores, non-profits, and educational institutions to handle small expenses efficiently.

For pdfFiller’s FAQs

What is petty cash fund?

Petty cash fund is a small amount of cash kept on hand by a company for minor expenses.

Who is required to file petty cash fund?

Petty cash funds are typically managed by the company's finance department or designated personnel.

How to fill out petty cash fund?

Petty cash funds are typically filled out by completing a petty cash voucher with details of the expense, amount spent, date, and purpose.

What is the purpose of petty cash fund?

The purpose of a petty cash fund is to cover small, incidental expenses that arise in the course of business operations.

What information must be reported on petty cash fund?

Information reported on petty cash fund usually includes the date, amount, purpose of expenses, and signature of the individual who received the cash.

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