How To Write A Check To Replenish Petty Cash. At the end of an accounting period a count of the petty cash shows that the fund contains cash of 240 and expense. It is important to realize that the $80 check will be.
Lesson05 4g from www.slideshare.net
In the process mary discovers that the vouchers add up to only $79. Write out the dollar amount in words on the appropriate line of the check. You should write a check to the custodian to initially establish the fund.
The Petty Cash Custodian Refills The Petty Cash Drawer Or Box, Which Should Now Contain The Original Amount Of Cash That Was Designated For The Fund.
Examples of these payments are office supplies, cards, flowers, and so forth. It is important to realize that the $80 check will be. To replenish the fund, write a company check to “petty cash,” cash it and.
Whenever The Bank Mails A Credit Memo To The Depositor.
Suppose for example a business maintains a petty cash fund of 300. So if you need to do the cash deposit to a bank account. This is the starting amount that’s in the petty cash box.
When A Company Sets Up A Fund With Petty Cash, It Typically Assigns An Employee To Oversee The Fund.
The result should be the total of the disbursements. When petty cash gets low, always check the balance with receipts before adding more. Using an excel spreadsheet to track petty cash.
You Should Write A Check To The Custodian To Initially Establish The Fund.
The accountant should write a check made out to “petty cash” for the amount of expenses paid for with the petty cash that month to bring the account back up to the original amount. When a check is written to replenish the petty cash fund, it is entered in the journal by debiting the proper accounts indicated in the distributions columns of the petty cash record and by crediting cash over and short. Replenish the float for the next period ;
If The Company Uses A Formal Reconciliation Form, Obtain A Blank Copy And Use It To Document The Following Steps.
Once petty cash is “balanced”, write a company check to the designated employee for the amount of the receipts. The petty cash journal entry is a debit to the petty cash account and a credit to the cash account. Petty cash replenishment refers to the process of restoring the cash balance in the petty cash fund back to its original imprest amount.
