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- DictionaryPet·ty cash/ˌpedē ˈkaSH/
noun
- 1. an accessible store of money kept by an organization for expenditure on small items: "I took the money out of the petty cash and paid her"
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Jun 28, 2024 · 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...
Jul 30, 2022 · 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.
The meaning of PETTY CASH is cash kept on hand for payment of minor items.
Jul 26, 2022 · Petty cash is a small amount of cash a company keeps on hand to cover small expenses. It is also known as a petty cash fund. This money is used for minor or incidental expenses. Companies sometimes do this to avoid using a credit card or writing a check.
Definition of Petty Cash. Petty cash or a petty cash fund is a small amount of money available for paying small expenses without writing a check. Petty Cash is also the title of the general ledger current asset account that reports the amount of the company’s petty cash.
Definition: Petty cash is the small amount of cash that is kept on hand by a company to pay for minor, inexpensive purchases during the normal course of operations. Petty cash is often used to pay for postage, small office supplies, and other small purchases.
PETTY CASH definition: 1. a small amount of money kept in an office for buying small things that are needed: 2. a small…. Learn more.
A small sum of money designated for paying small bills without writing checks is known as petty cash or a petty cash fund. Petty Cash also refers to the current asset account in a company's general ledger, which documents the amount held for small, miscellaneous expenses.
Oct 1, 2019 · Updated October 1, 2019. What is Petty Cash? Petty cash is money kept on-hand, generally, by businesses for making change for clients and to cover minor costs. How Does Petty Cash Work? Petty cash is commonly associated with storefront-type businesses who deal with clients who may pay in cash.
Petty cash is a store of money that is easily accessible, i.e., in the form of cash, that companies and other organizations keep for expenditure on miscellaneous and small items.
