Generally accepted accounting principles include three sets of rules that apply to and cover most every accounting transaction. Petty cash reconciliations, which occur monthly or before replenishing a ...

Business owners regularly audit the petty cash fund set aside for small incidental expenses such as cards for employees who suddenly fall ill or a few office supply purchases between bulk orders. An ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

What Is a Petty Cash Fund? Petty cash is a small amount of cash-on-hand necessary for your departmental operations. Before a petty cash fund may be established, both the Departmental Cash Handling ...

Reconciling a business bank account is the process of checking recorded transactions against those reflected on bank statements. From there, you’ll note which transactions aren’t reflected in both ...

Petty Cash accounts are approved when a need is established and documented by the department head. Those reasons include, but are not limited to, frequent, small dollar transactions not able to be ...

This policy applies to all eligible employees of William & Mary, including the Virginia Institute of Marine Science (hereafter referred to as “the University”). This policy establishes the proper uses ...

A recent review of Chatham County's petty cash handling procedures has prompted internal auditors to recommend a new financial policy for the practice. According to an internal memo, obtained by the ...