petty cash procedure manual pdf

Petty cash and change funds should not be deposited into a bank account, including the personal bank account of the petty cash custodian. The procedures for handling Petty Cash Accounts are established in Rule 3.8 of the Financial Rules. operation procedure framework for Government controlled companies. The church-approved amount for petty cash will be reported on the financial reports as an asset under cash. endobj The majority of petty cash funds are established to enable departments to make small, emergency purchases where a purchase order is not cost effective or a purchasing card cannot be used. 2 . Increasing amounts of petty-cash vouchers and/or totals in accounting for disbursements. It is my sincere hope that the manual will further 6.5 Bank Accounts . Cash the check. 3.6 Petty Cash Management 10 3.7 Cash in Safe 12 3.8 Receipts 12 3.9 Investment Management 13 3.10 Prepayments 14 ... Failure to comply with any policies and procedures contained in this manual may render an employee liable to disciplinary action. Petty Cash Funds and Change Funds shall be separately maintained and not commingled. Journal entries and procedures for petty cash Let's look at the journal entries and documentation used in working with a petty cash fund, and then we will review a detailed example. We have tried to write this manual with all churches in mind. Safeguard the cash. A petty cash fund may not be established to circumvent the state purchasing guidelines and must adhere to all George Mason University and Commonwealth of Virginia policies and procedures. and procedure manual is nearly impossible. Audit Administrative Manual for Collection of Salary Overpayments Expenditures may not be used to circumvent current purchasing procedures. 6.9 Provision for Doubtful Debts ... CVI | FINANCIAL POLICIES & PROCEDURES MANUAL V1.317 September0 July 8, 2014 6 . 2. Dr��h�I��L�`�?�I9 ��Θ� �Z�^F�� mr endstream endobj startxref 0 %%EOF 221 0 obj <>stream POLICY AND PROCEDURE MANUAL: Filing No. Offices and projects of company are required to keep and maintain a system of petty cash which is the responsibility of the Finance Department of that particular office or project. 20330) details the handling of petty cash funds by state agencies. Have two people responsible for petty cash. ��a �yf b��^��Oo�į�y��j�߹]�x}��%��8��b�~��_{�I�D%S�;��TuP!1��hL!�w��h��Zp��+��#�p�:1;��4�N�O��'��Z��r��wŸ]��5 1.0 _ overview of accounting and procedures manual 2.0 _overview of the finance and accounting department 3.0 _ financial reporting 4.0 _ bank accounts 5.0 _accounting documents and procedures 6.0 _petty cash management 7.0 accounting for imprest Review and sign the request letter. The total sum of the “Received of Petty Cash slips . Purpose – To summarize multiple Petty Cash Vouchers into one request for replenishment. 2 0 obj and Request for Reimbursement . Cash Management Fiscal Non-Profit Administration I Organization of the Non-Profit Agency II Budget and Management III Personnel IV Accounting G. Petty Cash Fund V. Contracting VI. The procedure for petty cash funding is outlined below: Complete reconciliation form. 24. K.S.A. Petty cash/cash drawer fund controls and procedures are to ensure that petty cash/cash drawer funds are properly established, maintained and that university assets are adequately safeguarded. Procedures Manual for the Procurement of Goods and Services Page 10 of 80 resources, and avoid splitting up purchases as a way of disregarding the application of the procurement methods previously described in this chapter. Assets that is likely to be converted to cash or used up within one year, such as petty cash, notes receivable due within a year, prepaid expenses, and security deposits. <> policy and procedures manual. Petty cash/cash drawer fund controls and procedures are to ensure that petty cash/cash drawer funds are properly established, maintained and that university assets are adequately safeguarded. GENERAL . 2. Purpose: Procedures for the handling of petty cash are designed to provide accountability for moneys received in accordance with generally accepted standards of internal controls. <> CHARTER SCHOOL FISCAL CONTROL POLICIES AND PROCEDURES Page 3 Petty Cash 1. Reconciliations 8. 6. the management of state finances and property to treat the rules and procedures in this manual with the importance they deserve. The Bursar is the University's primary handling agent. Petty Cash Procedure Page 1 of 6 Version 1.0 April 2017 Standard Operating Procedure 1 (SOP 1) Petty Cash Procedure Whywe have a procedure? All petty cash funds are subject to periodic audits. The National Coordinator is accountable for the money in the Petty Cash. application of financial regulations, policies and procedures. PETTY CASH MANUAL – (ACC-W043) Sacramento City Unified School District 9/30/16; Rev. PETTY CASH MANUAL – (ACC-W043) Sacramento City Unified School District 9/30/16; Rev. 75-3055 : … systems, processes or procedures; 5.5 The petty cash facility holder fails to make timely returns of expenditure as required under this policy. Cash & Banking Procedures _____ Contents 1. Fund custodians are encouraged to complete the online petty cash training (see Additional Resources). Decide on a location for your petty cash fund: The location should be in a convenient place for both the employer and employees. Table of Contents. Procedures . o Agency size. • This cash should be counted daily and logged. Keep petty cash funds in a secure area such as a locked drawer or small safe. A 75-3052 K.S.A. The collection and control of cash at Northwestern University are very important functions. H�d��n�F F��°Fs#��x�꼀"ѩ�Zd{��:��YD9"9��1�m��a~]=��v�ͫ��lV��#��{ڞ��n/�?|y����W��o��o��|��>��~~�|��y?��o�O�7_O��O��i>��|5�˶��i^�jț�G�Yw�}�~�W��pM��r��m��^߭>��i��.�t�_w6�5�|}��=}ٿ�u��֦�M�ׇ�#��H}�>J�,W��-S��cz��=��cz��=��cz��=��G�1�g��0� �QX�*��@E$�b �H��D$E&��E��l4?�F4�D�c�Xy,+��c�x��X. Petty Cash Petty Cash is the cash on hand or in the safe which is made available from the bank account to the project and is used to pay for small expenditures related to operating costs. 26. and cash on hand must at all times equal . ARs��? Please review Business Procedure Manual (BPM) for policies and procedures affecting petty cash. All petty cash will be kept in a locked petty cash box in a locked drawer or file cabinet. the authorized fund amount . As a reminder, do not use Petty Cash Checking to pay other schools within PISD. C. In the event of theft, the Custodian should notify his/her immediate superior as well as the University Police. Add a petty cash account to your chart of accounts: Start a petty cash fund by writing a check drawn on your company to "Petty Cash." The petty cash facility is to be used for the purchase of items for patient monies and sundry items of an intrinsic value to support operational activities of the Trust, e.g. The integrity of a PCC Fund shall be maintained at all times. Procedures (CAPP) Manual (Sec. "%R�9� ��b4��P N�N|��CV��{\)`�$�[�Q|��o�Ь�g�Y�B!o3�+k)a*�R�BJ��IdH^�}�-��|\+��"t Accounting Policies and Procedures Manual. Policies and Procedures Manual Finance Petty Cash Management 2 February 2014 1. Miscellaneous cash received must . 5.1.5 Access to and security of cash, assets and other CVI resources . 2. %PDF-1.6 %�� `SD�Kי�II�r�Z-�O6۲cRm�U?�Ae {�3a+�n��3��$"ڄ�6��]5u��^!p�+V�n�)�Z�ۣy&f�?�Al�u�r��C��U�3sR��t�y��\�1��v�9Cq��8j�f_l�9_��D�/Qnr��|�6)�d�԰��-�(X4� 3.6 Petty Cash Management 10 3.7 Cash in Safe 12 3.8 Receipts 12 3.9 Investment Management 13 3.10 Prepayments 14 ... Failure to comply with any policies and procedures contained in this manual may render an employee liable to disciplinary action. Complete the Petty Cash Change of Custodian Form. Petty Cash Handling Procedure. c) If for any reason a given policy or procedure cannot … Number petty cash vouchers consecutively. Petty Cash – A petty cash fund is cash loaned for the purpose of making small purchases where it is not reasonable to make a disbursement by check and purchases are impractical or unavailable through Procurement and Disbursements (One Card or expense reimbursement). The Reference Guide to Petty Cash April 2008 4 1 Introduction 1.1 Purpose of Reference Guide The Reference Guide to Petty Cash provides information and guidance on petty cash policy, fund management, and operational procedures. References: MAPP 05.01.01 SAM 03.A.07 General Statement: The Petty Cash fund … Please use these as suggestions for things that you should consider when creating your own accounting policies and procedures manual. A fixed cash or petty cash fund in the form of currency, coin, or Government check that is advanced by an organization unit from not. Administration A detailed analysis of petty cash expenditure for each month, including supporting receipts, must be returned to the Finance Office by the 5th of the following month. The Office Manager will manage the petty cash fund. Petty Cash • Departments needing to provide change, or reimbursements should request a petty cash fund from General Accounting. Introduction 1. 10,752. 3 0 obj PURPOSE . This policy allows the Superintendent, Purchasing Manager or designee to authorize purchases for the … The application form must: a. Sign and date Field 12 – Authorizing Authority to approve the setup or changes to the petty cash fund. 2.1. 1 . ��*h�6��xڻ �:��+t��IiBh&�Ȟ?��{K�$J��.3H��$y{��BE�eF�&�B�OO�nj�}}~u2�|�oW�Ph��D��Z��Z��2��X��v�q1*�Úݮ�Z>�rg�LJ��X. <>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 24 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> • When cash becomes depleted, a refund check should be requested by the petty cash custodian to Accounts Payable. 7.5.5 Receipt of money from the payments cash book will be entered and a reference to the cheque number will be made. Procedure for Petty Cash Status: Approved Date: 2011-09-21 File Reference: 6 7.1.7 The petty cash advance request forms must be numerically recorded in the petty cash register; 7.2 Excess payments 7.2.1 Where an amount in excess of the advance is spent, the petty cash advance request form must be signed by the head These funds are maintained at minimum levels in order to discourage theft and should not exceed the amount necessary to settle small accounts over a one month period. Submit form Revise Existing Petty Cash/Change Drawer Fund (Appendix A) to the Controller’s Office for review and approval. Tub financial deans or equivalent tub financial officers (or designees) are responsible for ensuring that local units abide by this policy and the accompanying procedures, and for approving Petty Cash Action Forms.. Tubs are responsible for approving payment requests submitted to fund new petty cash accounts before the request is routed to Central Administration for final approval. Changes in University cash handling procedures may be made from time to time and will be communicated via email. 1. 4. The request should identify the petty cash fund custodian and one other employee that is designated as a back up to the custodian. h�b``�d``��"� Ȁ �,@Q��;&500�� 1QXٗ#/��>#��v � fB�0� -��`�P~�]�J��s|��l"��j��Nb> bu�� t�-�3��dT ��@,��$4H3}�W%��Q�(` �#+� endstream endobj 173 0 obj <>/Metadata 24 0 R/PageLabels 168 0 R/Pages 170 0 R/StructTreeRoot 45 0 R/Type/Catalog/ViewerPreferences<>>> endobj 174 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 175 0 obj <>stream PETTY CASH PROCEDURES INTRODUCTION. The form must indicate whether the change is permanent or temporary. Complete a voucher request with the requested dollar amount filled in. 3. To specify the procedures and conditions under which petty cash funds can be established and maintained. The electronic petty cash book will automatically total each column downwards to give a total disbursed figure. Procedure Manual and within these instructions. Example Of Petty Cash Procedures For Accounting Manual: Make the amount of petty cash funds available as small as possible. If the change is temporary, an expiration date is required. H.Petty Cash 1. 75-3054 K.S.A. Idcash eally, from a control perspective, the collection and controlling of cash should be centralized in one location; however it is not always possible or practical. Financial Reporting 18. h�bbd```b``V �'@$�&ɪ&7�H6K0;D��Iq0�� Chapter 9: Petty Cash Imprest Fund Petty Cash Imprest Fund 56 Chapter 10: Compliance of Government, Tax, VAT & Other Laws 10.1 Overview 57 10.2 Compliance reporting 57 Chapter 11: Receipts Procedure Receipts Procedure 58 Idcash eally, from a control perspective, the collection and controlling of cash should be centralized in one location; however it is not always possible or practical. Record of Petty Cash Disbursements and Request for Reimbursement Instructions Page 1 of 2 Rev. Funds must be completely reconciled and accounted for before the Controller’s Office will approve any changes. 6.7 Debtors . Requesting & Replenishing a Petty Cash Fund. Petty Cash Guidelines Petty cash funds are used for expenditures of $50 or less made by a City employee. Revision Date: 04/04/03 Date Issued: 07/72 Revisions throughout [.pdf version] SUBJECT. Include the unit’s cost centre and project code detail. The request must not come from the individual who will be the custodian of the fund. 7.5.6 The petty cash custodian must balance off the petty cash and all expenditure must be posted to the relevant accounts monthly. When a PCC Fund is no longer needed or upon separation or transfer of its PCC Fund Custodian, the PCC Fund s hall be closed out, reconciled, and its cash re-deposited at the cashiering office. 75-3053 : K.S.A. For these types of financial transactions, use a Journal Entry that is processed through the Accounting Department. A. These selected forms appear as exhibits at the end of the chapters in which they are first introduced and are referenced, in the text, with brackets (<>). 6.4 Petty Cash . Chapter 9: Petty Cash Imprest Fund Petty Cash Imprest Fund 56 Chapter 10: Compliance of Government, Tax, VAT & Other Laws 10.1 Overview 57 10.2 Compliance reporting 57 Chapter 11: Receipts Procedure Receipts Procedure 58 6.6 Investments . Petty Cash Procedure Page 4 of 6 Version 1.0 April 2017 Reconciliation of petty cash imprest sheet On a bi-weekly basis the imprest book needs to be “totalled up” and reconciled with the cash left in the tin to the imprest. ndProceduresJune18.pdf Petty Cash Floats Petty cash floats will normally issue on receipt of a completed Petty Cash Application Form by the Finance Office. Destroying, altering, or voiding cash sales tickets and pocketing cash. Project Financial Management Procedures (PFMP) 1.0 Introduction The following manual outlines the financial procedures to be followed by the Project Implementation Unit (PIU) during the following stages of the project cycle: i) preparation and planning, ii) implementation and iii) completion of the project. Additionally, the request should indicate the account to be charged and be approved by the appropriate department manager or designee who is neither the fund custodian nor an employee reporting to the fund custodian. Petty Cash funds may be established for payment of minor or infrequent expenses where it is Purchases 12. A primary custodian and secondary custodian. @��x�{�� +��J"�4��CɎ��"��fln��DóS��%�S�~&��\�K�)sڋ��@��Φ��Ռ!a�}a��2�aG|�aA��ĒZ��̝�$�ퟐ$��dw(IK��t��G�m5�AQ�v%*l�\�V�i�t��$��H�>(gg_7��=,X�k�x�J�Ɩ?��O��v+@�[b��ȕ��甆��X�GJ��[�c��ŏ��>KŤ�T�?��8��,�8%��2 %PDF-1.5 Control criteria: Petty cash funds are established only when required and used solely for the purpose for which they were issued At the time of the audit, VAC had 78 petty cash funds in place, with a total value of $22,800. Recording cash receipts with unwarranted cash discounts and pocketing the bogus discount amount. 2�kU�Jy�n��V�M]=�]SR�l� ` Accounting Policies and Procedures Manual Xxx. Feb. 2008 The Total Receipts for Reimbursement box will be calculated automatically and must equal the total on the calculator tape of all “Received of Petty Cash” slips. Division of Duties 2. An accounting staff person reviews and approves the form and sends a copy to the … A petty cash fund or custodian may be … While preparing the regulations, reference has been made to GAAP, International Financial Reporting Standards (IFRS), and … Keep petty cash locked in a secure drawer or box. 3 . fund that is used for business operations like in giving change or in business travels Petty Cash Fund Procedures. Adequate receipts and documentation must be maintained to support all transactions made from the Petty Cash Fund. To expedite the purchase of low value items, Administrative Staff are authorized to maintain a petty cash fund. Departments should read FIN 403 before establishing a petty cash fund. BSBFIM601- ABC Financial Policy and Procedures Manual.pdf - Financial Policy and Procedures 2018 Template designed by Business Victoria F\u00e1ilte Events. The individual petty cash floats ranged in value from $100 to … B. I call upon all the Chief Budget Managers as well as all other public officers entrusted with the management of state finances and property to treat the rules and procedures in this manual with the importance they deserve. Departments sometimes need to purchase certain low-cost items without requisition documents. The day to day maintenance of the petty cash fund, including: Safeguarding, reconciling, and replenishing the fund, Counting and reconciling petty cash funds at least monthly so that shortages or other discrepancies can be noticed, reported, and corrected in a timely basis. %�� D ACC-W043 1 of 13 PETTY CASH FUND --- OVERVIEW Sacramento City Unified School District's Board of Education Policy requires all district purchases to be made by the District's Purchasing Department. Petty Cash Custodian: The Petty Cash Custodian is responsible for:. Academia.edu is a platform for academics to share research papers. Specifically, these funds may be used only for payment of minor … PETTY CASH PROCEDURES INTRODUCTION. For example, this manual includes a Petty Cash Log (few PHAs today have petty cash accounts for each property) as well as a Traffic Log (tracking the number of applicant inquiries under a site-based waiting list system). Fixed Asset Management 15. x��[Ys�6~w��*ٙ��C\"K)'�%�2��E7 4}�9;)��~�,ɋ��\,�;�~v�}�mv��)��]� ��ϟQ��,� q �^?��x��4�dS1YN��V]S9�S�dz$��=\௷�#��K��~6Wt��6�*>þs�bƲ��pe��7r��I5w�@�k�t��ž��i��T��I ��_Q�`�x��4 R�h��h=P|}%M�}��)OFq$�b>�`k��Ӈ�v�k*z!��d��,�۲ܮ�� O�z��S:��$>�qX|>��*q��?��#�̎20�� 0IY�,⤯�Bfo�W��36&� M��)�4��N9SR��wd�'o��f�)}B. The collection and control of cash at Northwestern University are very important functions. endobj 5.1.6 Sound budget management and variance reporting . Clearly outline the reason for the float and why the expenditure to be incurred cannot be procured through the Agresso purchase order system; b. .02 Imprest Fund . 4 0 obj Fixed asset Depreciable assets your company owns that aren't likely to be converted into cash within a … Cash Expenditure (Petty Cash) a) A petty cash float will be maintained by the applicable Finance department. It is my sincere hope that the manual will further enhance the PFM practices across all the public entities. Cash Receipts Procedures 4. Complete a petty cash reconciliation form, in which the petty cash custodian lists the remaining cash on hand, vouchers issued, and any overage or underage. The National Coordinator is accountable for the money in the Petty Cash. stream Vanderbilt establishes petty cash funds for a fixed amount. The new petty cash custodian needs to complete the steps outlined in Establishing a New Petty Cash Custodian before the request is submitted. These funds are maintained at minimum levels in order to discourage theft and should not exceed the amount necessary to settle small accounts over a one month period. Cash Handling Procedures will be available electronically on the University AVP/Comptroller’s website. 23. These funds are also covered by the legal provisions of WHO. Petty Cash Petty Cash is the cash on hand or in the safe which is made available from the bank account to the project and is used to pay for small expenditures related to operating costs. 3.2.4 Manual Receipts 6 3.3 Float Management 6 3.4 Cheque Handling 7 3.4.1 Cheque Acceptance Guidelines 7 3.4.2 Canadian Currency Cheques 8 3.4.3 Foreign Currency Cheques 8 3.4.4 Dishonored Cheques (NSF) 9 3.5 Deposits 10 3.5.1 Deposit Sheets 10 3.5.2 Supporting Documentation 11 3.5.3 Transelect 12 3.5.4 IVR Receipts 12 3.5.5 Overages and Shortages 12 3.5.6 Month End 12 3.5.7 Cash … 2. Establish petty cash fund The first time a petty cash fund is established a company writes a check to a designated petty cash custodian for the amount of the petty cash fund. 5. It also explains how to properly manage and reconcile petty cash. Banking Procedures 1.1 Receipt of cash and cheques within a department ... 3.1 Purpose of petty cash 3.2 Conditions for using petty cash 3.3 Department request for a petty cash float 3.4 Petty cash imprest system 3.5 Reconciling the imprest system 3.6 Replenishing the petty cash float Appendix A – Petty cash imprest form. To expedite the purchase of low value items, Administrative Staff are authorized to maintain a petty cash fund. Finance Policy and Procedures Manual ii Foreword I am pleased to present the Finance Policy and Procedure Manual of the Judiciary. All governors and staff of this School are required to comply with the procedures set out in this manual. 27. Withholding cash sales monies by using false charge accounts. The petty cash fund will be capped at $350. Payroll 16. The information herein supersedes all previous cash handling procedures. Therefore, you may find that some items do not apply to you. These funds are also covered by the legal provisions of WHO. Petty Cash Procedures: Reduce the risk of fraud and theft by implementing these basic procedures to ensure best practices are being followed with the accounting managaement and disbursement of petty cash funds. The voucher information may come from the petty cash book. Petty Cash funds may be established for payment of minor or infrequent expenses where it is otherwise impractical to obtain a university check or use a procurement card. The amount of the petty cash fund is established at the time the fund is approved. Feb. 2008 Record of Petty Cash Disbursements . 5.1.4 Access to and security of computer programs and data . Petty Cash Fund 11. AUTHORITATIVE REFERENCES . The policy sets organizational standards and codes of practice on the management and reconciliation of petty cash. The Bursar is the University's primary handling agent. D. Review of Petty Cash or Change Funds 1. Step #2: Review the M-75 Request of Establishment or Update of the Petty Cash Fund Form and verify the petty cash limit, the purpose of the petty cash fund and plan for safeguarding the petty cash fund. 1 0 obj For Charles River Campus . This policy allows the Superintendent, Purchasing Cash Disbursements Procedures 6 . A department head or other individual with expenditure authority makes a request to the Controller's Office to establish a petty cash fund. PETTY CASH PROCEDURE GUIDE 4. Fiscal Policy Statements 21. A numbered petty cash voucher will be required for each disbursement regardless of how small. 25. 172 0 obj <> endobj 200 0 obj <>/Filter/FlateDecode/ID[<0E77063E6A9F206AFF9BC4CE43742994><9E90DA3ADE1245F59BB58AA50C5363B0>]/Index[172 50]/Info 171 0 R/Length 126/Prev 142729/Root 173 0 R/Size 222/Type/XRef/W[1 3 1]>>stream Example Of Petty Cash Procedures For Accounting Manual: Make the amount of petty cash funds available as small as possible.
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