Petty cash book
Establish a petty cash fund
The petty cash account is a current asset and will have a normal debit balance; A small cash fund is a small amount of money on hand to cover a small expense
Add limits for petty cash expenses to pay
There should be added limit for petty cash expenses, because its help to accounting and control the cost in the entity
Concern about petty cash balance
Using a two-note accounting system adds credibility by ensuring that books are always balanced. Even so, we can know what the balance is at that point, allowing you to discover and investigate discrepancies as early as possible
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