Processing should include
- completing a count at the beginning of the day
- locating the morning petty cash slip
- counting and documenting the number of denominations available
- signing the slip once the money has been counted
- completing a petty cash receipt when removing money
- counting petty cash vouchers as cash
- reconciling petty cash each day.
Process/Skill Questions
- What is the purpose of a petty cash receipt?
- Who should manage the petty cash fund?
- What are approved expenditures for a petty cash fund?