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   What is petty cash?

   • Petty cash is a small amount of cash that is kept on a business or company's premises to pay for minor expenses and needs—usually, no more than a few hundred dollars. While it's easy to understand and simple to use, petty cash is subject to abuse, easy to lose track of, and vulnerable to theft.

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

   www.investopedia.com/terms/p/pettycash.asp

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   What does a petty cashier do?

   • A petty cashier might be assigned to issue the check to fund the petty cash drawer and make the appropriate accounting entries. The petty cash custodian is charged with distributing the cash and collecting receipts for all purchases or any uses of the funds.

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

   www.investopedia.com/terms/p/pettycash.asp

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   What is a petty cash log?

   • This is the first entry in your petty cash account, represented by the following journal entry that shows petty cash leaving your bank account. You also need a log to keep track of all the expenses you’re making using your petty cash. Here’s what a petty cash log for a typical small business might look like at the end of the month:

   What is Petty Cash? - Bench Accounting

   www.bench.co/blog/accounting/petty-cash

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   How does a petty cash fund work?

   • As part of a company’s cash, a petty cash fund is drawn on its checking account, cashing that check and giving the currency and coins to the custodian. In this transaction, there’s no expense involved. If money from the fund is used for expenses, the custodian will use petty cash receipts or vouchers to replace that cash.

   Petty Cash - Learn More About Petty Cash Funds and Transactions

   corporatefinanceinstitute.com/resources/accounting/petty-cash/

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2. www.investopedia.com › terms › pPetty Cash: What It Is, How It's Used and Accounted For, Examples

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   3 days ago · Petty cash is a small amount of company cash kept on hand to pay for minor expenses. Learn how petty cash is used, recorded, reconciled, and the advantages and disadvantages of using it.

3. quickbooks.intuit.com › petty-cashWhat is Petty Cash? How to Manage it? - QuickBooks Singapore

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   Jul 26, 2022 · Petty cash is a small amount of cash a company keeps on hand to cover small expenses. Learn how to create, record and reconcile petty cash funds, and how to use QuickBooks software to manage them.

4. Videos

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     How to do Petty Cash Accounting

     Aug 4, 2022

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     Petty Cash Definition - What is Petty Cash?

     Feb 8, 2017

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     Quickbooks Tutorial - How to Use a Quickbooks Petty Cash Account

     Oct 24, 2021

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5. fitsmallbusiness.com › petty-cash-accountingHow To Do Petty Cash Accounting & Recording in 6 Steps

   fitsmallbusiness.com › petty-cash-accounting

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   Oct 11, 2022 · Learn how to set up and manage a petty cash fund for your small business. Follow the six steps to establish, record, reconcile and replenish petty cash, with examples and journal entries.

   • Video Duration: 13 min

6. www.bench.co › blog › accountingWhat is Petty Cash? - Bench Accounting

   www.bench.co › blog › accounting

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   Petty cash is a fund of physical cash your business keeps on hand to pay for small, unplanned expenses. Learn how to set up a proper petty cash system, record transactions, and reconcile your fund with this guide.

7. corporatefinanceinstitute.com › petty-cashPetty Cash - Learn More About Petty Cash Funds and Transactions

   corporatefinanceinstitute.com › petty-cash

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   Petty cash is a small amount of cash that a business keeps for miscellaneous and unexpected expenses. Learn how to record, reconcile, and control petty cash transactions with CFI's free accounting resources and courses.

8. www.fool.com › accounting › petty-cashHow to Set Up Petty Cash for Your Business - The Motley Fool

   www.fool.com › accounting › petty-cash

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   May 10, 2024 · Learn what petty cash is, how to set up and use it, and how to record and reconcile it in your accounting system. Petty cash is the money you keep on hand to pay for small expenses such as office supplies, coffee, or employee reimbursements.

9. www.thebalancemoney.com › what-is-petty-cash-5221733What Is Petty Cash? - The Balance

   www.thebalancemoney.com › what-is-petty-cash-5221733

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   Jul 30, 2022 · Petty cash is the money a business keeps handy to cover minor miscellaneous expenses. Learn how the petty cash imprest system works and some of its uses in this article.