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PETTY CASH POLICY AMENDED 1 JULY 2016STEVE THERE LOCAL MUNICIPALITY MP 313 Approved May 2016 C36/05/2016TABLE OF CONTENTS 1. Introduction2. Objectives of policy3. Legislative framework4. Petty cash
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How to fill out petty cash purchases
How to fill out petty cash purchases:
01
Make sure you have a petty cash log or register to record all transactions.
02
Write down the date of the purchase, the name of the person making the purchase, and the purpose of the expense.
03
Specify the amount of cash taken out for the purchase.
04
Keep track of the receipts for each purchase and attach them to the log.
05
Subtract the amount spent from the initial petty cash balance and update the total remaining.
06
Replenish the petty cash fund when it runs low by requesting the approved amount from the appropriate department.
Who needs petty cash purchases:
01
Small businesses or organizations that frequently have small, everyday expenses may find petty cash purchases useful.
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Employees who need to make small purchases quickly without going through a lengthy reimbursement process may benefit from petty cash purchases.
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Petty cash purchases can also be relevant for businesses or organizations that require cash payments for certain transactions or services.
Overall, the purpose of petty cash purchases is to provide a convenient and efficient way to handle small expenses without relying on larger accounting processes.
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What is petty cash purchases?
Petty cash purchases are small, day-to-day expenses paid for with cash from a designated fund.
Who is required to file petty cash purchases?
Anyone responsible for managing petty cash funds in a business or organization is required to file petty cash purchases.
How to fill out petty cash purchases?
Petty cash purchases can be filled out using a petty cash log or form that includes the date, amount, description of the expense, and receipt or documentation for the purchase.
What is the purpose of petty cash purchases?
The purpose of petty cash purchases is to provide a convenient and quick way to pay for small expenses without the need to use a formal payment method.
What information must be reported on petty cash purchases?
Information such as date of purchase, amount spent, description of the expense, and receipt or documentation must be reported on petty cash purchases.
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