Meaning of petty cashier in English the person in an office who is in charge of a small amount of money kept for buying small things when they are needed: The petty cashier keeps receipts for milk, coffee, and so on bought for the office kitchen.
What are petty cash transactions?
Petty cash is a small amount of cash that companies keep on hand, in a locked drawer or box, to pay for minor business expenses. In small companies, there’s usually one petty cash fund. However, in larger businesses, each department or building may have its own petty cash fund.
Can a cashier count out cash for petty cash?
Alternatively, the cashier could simply count out the cash for the petty cash fund, if there are enough bills and coins on the premises. The initial petty cash journal entry is a debit to the petty cash account and a credit to the cash account.
Which is the correct procedure for petty cash?
Petty cash procedure. The cashier gives the cash to the petty cash custodian, who includes it in the petty cash fund. If there is a petty cash book, the custodian enters the amount of the cash received in the book, and updates the running total of cash on hand. Record vouchers in general ledger.
How does petty cash work in the general ledger?
Obtain cash. The accounts payable staff creates a check made out to the cashier in the amount needed to fund petty cash to its stated limit. The cashier deposits the check and converts the funds into cash. The accounts payable staff forwards the petty cash reconciliation form to the general ledger accountant. Add cash to petty cash fund.
Who is the custodian of the petty cash fund?
The cashier gives the cash to the petty cash custodian, who includes it in the petty cash fund. If there is a petty cash book, the custodian enters the amount of the cash received in the book, and updates the running total of cash on hand.
