What are common uses for small cash?

Petty Cash is a small amount of money used by the company's employees for random expenses below a certain amount, usually around $ 50 (USD) in the United States. Many financial officials agree that in some cases it is not cost -effective - not to mention the waste of time - to issue a check for spending on small businesses. Common uses for small cash are shopping office supplies and paying for meals, entertainment, local transport and other different fees. It can also be used to provide reimbursement or change to customers. Regardless of its use, the documentation is usually required to take into account the funds to avoid possible audit problems.

Sometimes it is called an account of intervention, money from a small cash fund can be used to pay employees for previous expenditure related to businesses, or can be earmarked for expected expenses. Funds often allow you to change customers who buy GTAKO OOD or business services. In addition, small cash is often spent onOffice needs or laboratory needs, but is usually not intended to buy large items. Rather, it usually spends on incidents such as paper and pens. In addition, the academic departments of many universities that use human entities in their studies will also pay entities using small cash.

In general, most minor pocket expenditures incurred by employees during a business eligible for minor monetary compensation depending on the employer's specific policies. Employees of some businesses often pay for local travel, including a bus, taxi or metro for which they can be returned. Office events, such as employees or parties meetings, can also be financed from small cash, as well as certain business meals and other cheap entertainment.

There are certificates of limits and exceptions related to the use of a small cash fund. For example, it is not usually allowed to be afterused as a fund for checking or source for salary. If the company is in the US, there may be some exemption from the turnover tax, which would also take into account, depending on the state. In addition, the amount of money in a small cash account may be increased or reduced as needed, subject to an organization policy.

The company's supervisory employees are generally assigned as a depository of small cash funds and the maintenance of the fund requires precise documentation for accounting purposes. For example, it is usually good for employees to use small -time requirements and items when handling small cash. These forms, also known as Petty Cash vouchers, are generally available in office stores.