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PETTY CASH PROCEDURE The Board of Education recognizes the convenience afforded daybyday operations by the establishment of one (1) or more petty cash funds. The Board shall require the imposition
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How to fill out 221-123 petty cash funds

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How to fill out 221-123 petty cash funds

01
Obtain a petty cash fund box or envelope with a lock and key.
02
Designate a custodian who will be responsible for managing the petty cash funds.
03
Create a log sheet to track all withdrawals and deposits made to the petty cash fund.
04
Determine the starting amount of cash needed in the fund.
05
Secure the fund in a safe location.
06
Issue petty cash vouchers for any expenses paid out of the fund.
07
Regularly reconcile the petty cash fund against the log sheet to ensure accuracy.

Who needs 221-123 petty cash funds?

01
Businesses that frequently have small, everyday expenses that are easier to pay for with cash.
02
Employees who need to make small purchases on behalf of the business without using personal funds.
03
Any organization that wants to have a convenient and accessible way to pay for minor expenses.

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221-123 petty cash funds are a small amount of funds set aside by an organization for minor expenses.
Any organization or individual that manages petty cash funds is required to file 221-123 petty cash funds.
To fill out 221-123 petty cash funds, you need to provide details of the expenses incurred using the petty cash funds.
The purpose of 221-123 petty cash funds is to track and manage small expenses that do not warrant a formal reimbursement process.
Information such as date, amount spent, purpose of expense, and receipts must be reported on 221-123 petty cash funds.
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