国际会计学3.ppt

What is petty cash? Most business keep a small amount of cash on the premises to make occasion small payments in cash, eg staff refreshments, postage stamps, to pay the office cleaner, etc. This is often called the cash float or petty cash account. Security of petty cash Keeping cash(even in small amounts) on the premises is a security risk. Therefore a petty cash system is usually subject to strict controls. Payment is only made in respect of authorised claims. All claims are supported by evidence. Authorisation An employee must complete a petty cash voucher detailing the expenses claimed. Usually receipts must be attached to the voucher. The completed voucher then needs to be signed by the employee’s manager to authorise payment. Evidence All petty cash vouchers must have receipts for the expenditure attached, as evidence that the employee has really incurred that cost. The petty cash book A petty cash book is a cash book for small payments. PETTY CASH BOOK Receipts Date Narrative Total Milk Postage Travel Other $ 20×7 $ $ $ $ $ 250 1 Spet Bal b/d Milk bill 25 25 Postage stamps 5 5 Taxi fare 10 10 Flowers for sick staff 15 15 __ Bal c/d 195 __ __ __ __ 250 250 25 5 10 15 Imprest system Under what is called the imprest system, the amount of money in petty cash is kept at an agreed sum or ‘float’(say $250). This is called the imprest amount. Expense items are recorded on vouchers as they occur, so that at any time: $ Cash still held in petty cash 195 Plus voucher payments(25+5+10+15) 55 Must equal the imprest amount 250 The total float is made up regularly (to $250, or whatever the imprest amount is) by means of a cash payment from the bank account into petty cash. The amount of the ‘top-up’ into petty cash will be the total of the voucher payments since the previous top-up. Example: petty cash and the imprest system DEF operates an imprest system for petty cash. During February 20×9, the following petty cash transactions took place. $ 2.2.×9 S