petty cash policy pdf

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Its purpose is to ensure that all trustees and volunteers are aware of when and how petty cash can be used in the activities of the organisation and full compliance is adhered. Reimbursements greater than $50 will be processed through Accounts Payable. Issue a check for the appropriate amount and identify this as your petty cash. Lastly, create criteria for which petty cash should be released. The Petty Cash Policy and Procedure applies to all Employees of the District Councilof Robe. Procedures have been established to encourage an effective administration and internal control of cash handling operations throughout the Municipality. PETTY CASH POLICY 5 7.3 Requisitions A Petty Cash Requisition form shall be completed and approved by the respective Head of Section or the supervisor when a section needs Petty Cash. endstream endobj 22 0 obj <> endobj 23 0 obj <> endobj 24 0 obj <>stream A column for checks which have been written from the petty cash account, A column to document the purpose of any expenses and; A column for information regarding deposits. The requisition should have attached a completed Petty Cash/Change Fund Application h޼WmOI�+�XTq;�/R�B��+5��j?,�4�)�F�� 9.2 A proper petty cash register must be kept where each disbursement of petty cash transactions are recorded. Major Process: Petty Cash 2.1 Objective To ensure that cash disbursements of a minor nature are only permitted when the issuance of cheques or electronic fund transfers are impractical. IMPLEMENTATION The purpose of petty cash is to meet minor payments for purposes other than salary and wages. … ! Petty Cash Policy Author / Creator Brian Willox, Senior Financial Accountant Owner Director of Finance Date published / approved February 2020 Version Version 5.0 Date for Next Review February 2022 Audience Staff Related n/a Subject / Description Details of circumstances when petty cash It is the It complements the SCM Policy and establishes a control framework for petty cash as an acquisition and payment instrument. h�b```f``Jf`e`�x� Ā B@1V��sZ/00t/A�vsZ��gyT�C�Sz��-��q�'X:@��B1�A�P��bY�H� Ck��[�c��L{��0�2�3�g 9.1 Petty cash replenishments will only be done after having fully exhausted the available cash in the bins. This person is responsible for the releasing and monitoring your petty cash fund. The limit on any one payment is $40; The principal, with the permission of the school council, may establish a petty cash advance under the Put the policy in writing and give some good examples of what petty cash can be used for – making change, small office supplies, postage, etc. 204 Level 1 Bookkeeping Skills petty cash voucher No. d � Sį�崚z�kQtؙ�'X�o��p,K��qS�ۺɾ�E��;ה�f�j6~�a�U�p�} �j�6�:��6e��$L)7h�,��e9��M��1��ۖ�FU� �S�M.s��t6��B�\Y_gr�]!��%Ӆ��Zآ�e��:G%�~]��ZS�q6�G��O+��%�o��B� b��GO��{�B��L��$v�t��1��z2zT�P!�@��o-�:h��&X��-^�b7��. }8�g-� �" ��@��i��4��d��+M-��L]7��;��z�r�i�ٷ/��!כ�q,靜�Y��=-a2�P��l�q#V��տ\��r�8��;�e��Ld��yx This policy establishes the proper uses and administration of petty cash funds. Some form of proof of purchase should accompany all disbursements from petty cash, and a full Financial Code (budget code and expense code) must be 73 0 obj <>stream %PDF-1.5 %�� 9�� v�0k�j�u{g�/&4嫜 Adequate receipts and documentation must be maintained to support all transactions made from the Petty Cash Fund. Scope . A petty cash form can be created in your computer and the columns can be filled out there as well. 9.3 The minimum detail to be recorded in the petty cash register is: (a) department name; Preamble This policy is issued under the authority of SCM Regulation 15 issued in terms of MFMA. authorization of petty cash and change funds including the processing of all associated adjusting journal entries to the General Ledger. You should then designate a petty cash custodian. You can also have a ceiling on the amount of a receipt that can be reimbursed from petty cash, such as $25, so that employees know ahead of … Request for a Petty Cash Fund must be completed via a requisition in Oracle. Establishing Petty Cash/Change Fund 1. Petty Cash Guidelines Petty cash funds are used for expenditures of $50 or less made by a City employee. Form is to be used in these instances. f�dj��a�``��k[��(��G�C+�1L6��4#w17��( ` � "��y �`�d��>3@l��+ Use of the Petty Cash Fund The petty cash fund must be used only for the purpose for which it was established. the Petty Cash Policy and I accept that I am responsible for all purchases made through the petty cash facility. Petty cash is available to employees primarily for 2 purposes: 1) to reimburse employees (faculty/staff) for small cash purchases of $25 or less with a receipt 2) to make change for the Clinic Petty cash reimbursements can be requested for gasoline usage, food or meals, minor Policy on Petty Cash Status: Review Draft Date: 2008-02-19 File Reference: 2 1. 6. 2. In accordance with the policy, a monthly schedule of transactions will be prepared, and submitted for approval and Posting on Agresso. �&��J��j0�L��\-`s2Ad�0;Dz��nH� �q��"� Next review date: May 2020 1. Policy on Petty Cash 3 POLICY ON PETTY CASH 1 POLICY STATEMENT 1.1 Petty cash are funds to be used for small incidental purchases. 51 0 obj <>/Filter/FlateDecode/ID[]/Index[21 53]/Info 20 0 R/Length 131/Prev 151145/Root 22 0 R/Size 74/Type/XRef/W[1 3 1]>>stream Mega Process: Financial accounting 2. This policy is intended to provide information regarding: A) cash limitations, B) prohibited purchases using petty . Procedure: 1. ��B(y>)�P1[��}~��%�� H�d��n�F F��°Fs#��x�꼀"ѩ�Zd{��:��YD9"9��1�m��a~]=��v�ͫ��lV��#��{ڞ��n/�?|y����W��o��o��|��>��~~�|��y?��o�O�7_O��O��i>��|5�˶��i^�jț�G�Yw�}�~�W��pM��r��m��^߭>��i��.�t�_w6�5�|}��=}ٿ�u��֦�M�ׇ�#��H}�>J�,W��-S��cz��=��cz��=��cz��=��G�1�g��0� �QX�*��@E$�b �H��D$E&��E��l4?�F4�D�c�Xy,+��c�x��X. %PDF-1.6 %�� Petty cash money shall be kept apart from other State money, but not necessary in separate safes. �� lO��._�e` �?��7 x�� Petty Cash Procedure Page 2 of 6 Version 1.0 April 2017 Howto carry out this procedure Process 1. %%EOF 21 0 obj <> endobj h�b``�d``��"� Ȁ �,@Q��;&500�� 1QXٗ#/��>#��v � fB�0� -��`�P~�]�J��s|��l"��j��Nb> bu�� t�-�3��dT ��@,��$4H3}�W%��Q�(` �#+� endstream endobj 173 0 obj <>/Metadata 24 0 R/PageLabels 168 0 R/Pages 170 0 R/StructTreeRoot 45 0 R/Type/Catalog/ViewerPreferences<>>> endobj 174 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 175 0 obj <>stream ndProceduresJune18.pdf Petty Cash Floats Petty cash floats will normally issue on receipt of a completed Petty Cash Application Form by the Finance Office. POLICY A. Receipts for the same activity exceeding $50 cannot be split among receipts to circumvent the $50 limitation. Policy on Petty Cash Policy: The purpose of this document is to outline policy on establishing and managing the ASI petty cash fund. ��F�9 ��=��y�A`�%poA+\�� m@2h߃v`� ��y ��ʂ��µ ��r0h��$�р�� µC�΁� �E��PUz>|Ⱥ��n��rh�0�,��8u�0NON��E�-[��s IMPLEMENTATION While the Department of Education and Training allows schools to keep a small amount of petty cash on site to cover minor payments for … Ensure that the fund is used to cover only allowable expenses (See section 3 of policy on restriction of petty cash usage). To implement a petty cash process that complies with the Department’s policy requirements. Reason for Policy/Purpose The purpose of a petty cash fund is to provide business units with sufficient cash to cover minor expenditures. Petty Cash Funds . NHS organisations should have a policy and standard operating procedures (SOPs) with clear instructions for staff on the management and use of petty cash. endstream endobj startxref This policy establishes the proper uses and administration of petty cash funds. Definitions Petty cash transactions are limited to direct purchases from suppliers for immediate needs of not more than . Petty Cash Policy 1. See the Petty Cash Policy for additional details. Funds over $100 must be kept in a safe or other secure and flame-proof equipment. PETTY CASH POLICIES PETTY CASH HOURS: 9 a.m. – 12 p.m. Petty Cash is used to meet minor payments for purposes other than salary and wages. When other disbursement methods cannot be used, petty cash funds can provide cash to local units to cover minor expenses, such as 172 0 obj <> endobj 200 0 obj <>/Filter/FlateDecode/ID[<0E77063E6A9F206AFF9BC4CE43742994><9E90DA3ADE1245F59BB58AA50C5363B0>]/Index[172 50]/Info 171 0 R/Length 126/Prev 142729/Root 173 0 R/Size 222/Type/XRef/W[1 3 1]>>stream Petty cash disbursements should only be used for small incidental expenditures and not as a method to bypass the District's Accounts Payable and Purchasing System. The application form must: a. Adopted January 2019. Review Date: May 2019. 2 POLICY … The petty cash requisition form details shall include the vote to be debited The Petty Cash requisition after receiving the vote, will be submitted to the Petty Cash Clearly outline the reason for the float and why the expenditure to be incurred cannot be procured through the Agresso purchase order system; b. Department or Budget Heads are responsible for petty cash expenditures made by members of their departments. These funds should be used only when cash is the most cost efficient method of payment. All expenditures that are to be reimbursed by the fund are to be approved by the petty cash fund custodian. A receipt must accompany and support each expenditure transaction. PETTY CASH POLICY Purpose The purpose of this policy is to provide users with detailed procedures regarding the establishment and administration of a departmental petty cash fund. The petty cash register shall be balanced monthly and checked by the head of the office concerned and verified with the actual cash on hand. - Secure petty cash fund in a secured location and limit access to essential staff. cash funds, C) allowable purchases, and D) receipt requirements. 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