Petty Cash
Petty Cash
The authorized balance of imprest, petty cash and other revolving funds should be reported as cash in the general ledger in whichever fund expenditures are
How Can Businesses Set Up A Petty Cash Management System · Employing a Custodian · Finance the Petty Cash Account · Ensure That the Funds Are The petty cash custodian records all transactions and maintains a running balance The custodian may have to justify the expenditures
h1b lottery 2024 third round date When petty cash is used to make purchases, no accounting journal entries are made; instead, they are only made when the custodian needs more money and receives How to set up a petty cash management system · Appoint someone as petty cash custodian · Fund the account · Secure the funds · Establish
