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 ...

Keep petty cash on hand in your business to cover small unexpected expenses. These expenses can include paying postage, tipping delivery people, purchasing supplies, buying gifts and more. The ...

Petty cash funds must be used only to purchase incidental items of a nominal amount for which other established university procurement methods are not feasible. Nominal generally means $60 for study ...

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 ...

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 ...

Tracking petty cash is an important aspect of small-business financial management. Failure to do so may leave you with an incorrect or incomplete picture of your company's financial situation. It can ...

Petty cash may be used for small dollar reimbursements to employees for RIT business expenditures of $50.00 or less (i.e., those that can’t be paid by procurement card). Petty cash reimbursements are ...

This guideline describes the procedures for establishing and maintaining a Petty Cash Fund and for receiving reimbursement for certain departmental purchases. Petty cash funds provide departments with ...