Petty cash refers to a small amount of money on hand for official use. It is an accessible cash store maintained by business organizations. Small expenditures can be covered through this amount. This eliminates the need to write a check and make a bank withdrawal. However, just like the sum of money stored in a bank, a proper account must be maintained for petty cash. This job is assigned to a reliable employee or accountant who is referred to as the petty cash custodian. He or she is answerable to the authorities for all the withdrawals made from this store.…
Petty Cash Request Slip
What is petty cash? The accessible money that is used by an organization for making payments of small and usual purchases, reimbursements, and expenditures is known as petty cash. The petty cash is generally stored by a specific department of the company. The company also chooses a custodian who is responsible for taking care of petty cash. The job of the custodian is to keep the petty cash more organized so that it can be availed whenever it is needed. When an employee makes a request to use the petty cash, the organization issues it for a particular purpose. Petty…