Petty Cash Receipt Template Excel And Word: Petty cash is the little amount of cash that is associated with the small miscellaneous expenses of the company. It is reserved for the payment of small liabilities of the company. This means that small payment we owned from other petty cash help to pay the amount of cash that we own from others means liabilities.
It plays a very important role in the company for the small miscellaneous expenses. These petty expenses can vary from organization to organization as dependent upon the nature of the organization. Petty cash is in hand cash that is used to pay short-term liabilities.
Some of the transaction is not worthwhile for the Cheques to write for them so, we have reserved this cash that is on hand to pay those small liabilities as small transactions are made by the businesses. These are the funds’ reserved for the vendors. Sometimes vendors do not like to have Cheques of the company for the payments so the funds are used to pay those vendors directly by hand. These funds are guarded by the certain person who is responsible to maintain and safety of that fund. You may also like salary slip format in excel .
These funds are reconciled by the company’s management to ensure that the balance of these all transactions and the payments by the management is balanced. This is the responsibility of the manager of the funds. It is often located in a safe location that cannot be accessed by non-management.
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