ASCOTT雅诗阁酒店公寓品牌财务部门政策与程序APP C01 (Petty Cash).doc

TAG Policy Procedures Department: Finance Section: APP C01 Topic: Cash Bank Management Date Created: Apr 2001 Revised: Feb 2007 (Ver 2) Page: Page PAGE 2 of NUMPAGES 3 COMPANY CONFIDENTIAL 2004. Ascott International Management (2001) Pte Ltd. All Rights Reserved. No part of this document may be resold, reproduced or transmitted in any form by any means without the written consent of the publisher. C01 PETTY CASH OBJECTIVE This section serves as a guideline in establishing the petty cash float, handling of petty cash payments and subsequent replenishment. The purpose of the petty cash is to reimburse employees for small purchases paid by employees and incurred on behalf of the Company/Property and to provide advances for small purchases and expenses where cash payment is required. POLICIES The Property Finance Manager shall appoint a Finance Officer as the custodian for the float. For properties where the Finance Department is located offsite, the Property Manager shall appoint an officer at the property to be the custodian for the float. The petty cash is to be maintained on an imprest system. As a general guide, the amount of Petty Cash Float at each property should not exceed S$3,000 or its equivalent. In setting the Petty Cash Float, the following consideration applies: Amount should be based on local operational needs; Amount should not be excessive; and Amount must be approved by the Cluster/Country Finance Head. It is recommended that the maximum limit of the amount that can be drawn from the Petty Cash Float per payment is S$300 (or its equivalent) or any smaller amount as determined by the Cluster/ Country Finance Head. Any payments above the said limit should be processed through cheque payments. The petty cash shall be kept under lock and key at all times. All petty cash payments must be raised through Petty Cash Vouchers (“PCV”). The designated custodian of the fund must check and ensure all PCV and supporting invoices/bills/document