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What Is Petty Cash And Its Purpose
What Is Petty Cash And Its Purpose - What Is Petty Cash And Its Purpose, What Is Petty Cash And How Does It Work
What is petty cash Petty cash as the name suggests is a small amount stored in office boxes or drawers to be used to pay for small expenses including employee meals and snacks It is the best mode of payment in situations in which paying by check seems an insensible option
Petty cash is a small amount of money that a company typically keeps available to cover the minor expenses of their day to day operations
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What Is Petty Cash Fund
What Is Petty Cash Fund
Definition and Example of Petty Cash How Petty Cash Works Types of Petty Cash Uses Photo yongyuan Getty Images Definition Petty cash refers to the money a business keeps handy to cover minor miscellaneous expenses Learn how the petty cash imprest system works and some of its uses
What is Petty Cash Petty cash refers to a small amount of hard currency that a businesses will keep on hand to pay for miscellaneous and unexpected items such as team lunches birthday cakes or office snacks Petty cash is usually a relatively small amount and is grouped with the general cash account on the balance sheet in current
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What Is Petty Cash
What Is Petty Cash
Petty cash is a small amount of discretionary funds in the form of cash used for minor expenditures 1 The most common way of accounting for petty cash expenditures is to use the imprest system 2 Audit controls Oversight of petty cash is important because of the potential for abuse
Petty cash is a readily available sum of money that can be used to pay for nominal expenses such as lunch or a new set of office pens It s a dedicated fund in the business used for day to day spending so it doesn t require a long process or procurement system
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Petty cash is a small amount of money that a company typically keeps available to cover the minor expenses of their day to day operations
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Definition Petty cash is a small amount of cash that companies keep on hand for minor expenses such as office supplies or meal reimbursements It s used for transactions that are not suitable for check or credit card payments due to their size or immediacy
Petty cash is a small amount of money that a company typically keeps available to cover the minor expenses of their day to day operations
Definition Petty cash is a small amount of cash that companies keep on hand for minor expenses such as office supplies or meal reimbursements It s used for transactions that are not suitable for check or credit card payments due to their size or immediacy
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