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Get the free Cash Change and Petty Cash Funds Establishment - Ordinance - cosweb ci shoreline wa

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Council Meeting Date: October 9, 2017Agenda Item: 8(a)CITY COUNCIL AGENDA ITEM CITY OF SHORELINE, WASHINGTON AGENDA TITLE:Discussing Ordinance No. 801 Amending SMC 3.35.010 Petty Cash and Change Fund
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To fill out cash change and petty, follow these steps:
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Determine the total amount of cash change and petty funds available.
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Prepare a petty cash log or a cash change log to keep track of the transactions.
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Assign a responsible person to manage the cash change and petty funds.
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Record the initial balance of cash change and petty in the log.
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Whenever someone needs cash change or petty funds, they should fill out a petty cash request form or a cash change slip.
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The person responsible for managing the funds should review the request and ensure it is legitimate and necessary.
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If approved, the requested amount should be deducted from the cash change or petty balance and given to the requester.
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The person receiving the funds should sign the log to acknowledge the transaction.
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Keep all the receipts and documents related to the expenditures made from cash change and petty.
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Periodically reconcile the cash change and petty log with the actual cash balance to ensure accuracy.
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Refill the cash change and petty funds as needed, based on the total transactions and remaining balance.
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Maintain proper documentation and records of all transactions for auditing purposes.

Who needs cash change and petty?

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Cash change and petty funds are typically needed by businesses or organizations that deal with cash transactions on a regular basis.
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This can include retail stores, restaurants, small businesses, or any organization that requires small amounts of cash for various expenses.
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Individuals may also need cash change and petty funds for personal use, such as reimbursing small expenses or managing small cash transactions in day-to-day life.
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Overall, anyone who handles cash and requires a convenient and accessible way to distribute and track small amounts of cash can benefit from cash change and petty funds.
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Cash change refers to the amount of cash that must be returned to customers after a transaction, while petty cash refers to a small amount of cash held on hand to cover minor expenses.
Businesses and organizations that maintain a cash register or handle petty cash are required to file cash change and petty reports.
To fill out cash change and petty, record the initial cash balance, all inflows and outflows of cash, and the ending balance. Detailed receipts and documentation should accompany these records.
The purpose of cash change and petty is to manage small cash transactions accurately, maintain accountability, and simplify the process of tracking minor expenses.
Information reported includes the date, the name of the individual handling the cash, transaction details, amounts received and spent, and the final cash balance.
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