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Petty Cash Management & Oversight Guide by Nirhd Jeff is a document available to read on EtoBox.

What is Petty Cash Management & Oversight Guide about?

Petty cash is a small amount of cash kept on hand to pay for minor business expenses. When petty cash needs to be replenished, a journal entry is made debiting expense accounts for the amounts spent and crediting cash for the total replenishment amount. Any overages or shortages in cash funds are tracked in a cash short and over account, which is either debited as an expense or credited as revenue depending on whether it has a net positive or negative balance at the end of the period. Well-designed internal

Author

Nirhd Jeff

Language

EN