Get the free petty cash fund close form - Controller - University of Miami - controller miami

PETTY CASH FUND CLOSE FORM Name of Custodian: Date: Preparer Name Preparer Email: Dept. Name & Campus: Phone # : CHECK ACTION: CLOSE PETTY CASH FUND 1. Enter Total Amount of Receipts on Hand (A) $

How to fill out petty cash fund close

How to fill out petty cash fund close

1. Count the remaining cash in the petty cash fund. This should include any coins or bills that are still in the fund.
2. Prepare a petty cash reimbursement form. This form should include the date, the purpose of the reimbursement, and the amount requested.
3. Attach any receipts or documentation for the expenses that were paid out of the petty cash fund. These should match up with the total amount of cash that was spent.
4. Submit the petty cash reimbursement form and the supporting documentation to the appropriate person or department for approval.
5. Once the reimbursement has been approved, receive the reimbursement amount in cash or as a check.
6. Deduct the reimbursement amount from the total cash in the petty cash fund. This will give you the new remaining cash balance.
7. Prepare a closing report or summary of the petty cash fund. This should include the beginning balance, any cash expenditures, the reimbursement amount, and the ending balance.
8. Submit the closing report or summary to the appropriate person or department for review and record keeping.
9. Replenish the petty cash fund if necessary. If the ending balance is below the designated amount, additional cash should be added to bring it back to the original fund balance.

Who needs petty cash fund close?

1. Petty cash fund close is needed by organizations or individuals who have been using a petty cash fund to pay for small expenses.
2. This can include businesses, non-profit organizations, schools, government agencies, and any other entity that handles cash transactions.
3. The petty cash fund close process ensures that the fund is properly accounted for, expenses are documented, and any remaining cash is reimbursed or returned to the appropriate party.

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What is petty cash fund close?

Petty cash fund close is the process of reconciling and closing out a petty cash fund that has been used for various small expenses.

Who is required to file petty cash fund close?

The individual or department responsible for managing the petty cash fund is required to file the petty cash fund close.

How to fill out petty cash fund close?

To fill out a petty cash fund close, one must reconcile all petty cash transactions, prepare a summary of expenses, and replenish the fund as needed.

What is the purpose of petty cash fund close?

The purpose of petty cash fund close is to ensure that all expenses from the petty cash fund are properly accounted for and that the fund is replenished for future use.

What information must be reported on petty cash fund close?

The information reported on petty cash fund close typically includes a summary of all expenses, any remaining cash in the fund, and any discrepancies that may need to be addressed.