Petty Cash: What It Is, How It's Used and Accounted For, Examples

website paticash Petty cash should be logged with journal entries This includes debits to the petty cash account, which are the purchases made, such as supplies, and credits to paticash Petty cash is cash that businesses keep on hand for small purchases For instance, a box of staples for an office or an emergency block of cheese for a cafe

paticash Guidelines for Petty Cash In general, a department may have a petty cash fund to allow payment of small value purchases, for which the purchasing card or  Understand petty cash in accounting Find out how a petty cash journal entry is made Read  Petty cash is a current asset and should be listed as a debit on the balance sheet When first funding a petty cash account, the accountant

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