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  • Policy and Procedure Manual

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    Debbie Langolf
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    This document outlines the policy and procedures for petty cash transactions. It states that petty cash should be limited to $250 and used for small, non-recurring expenses that require immediate payment. It details that the general cashier is responsible for petty cash disbursements and reimbursements, which must be supported by receipts and approved within 3 days. The policy also lists expenses that petty cash cannot be used for, such as payroll, travel, or items available from regular vendors. It concludes with procedures for reimbursing petty cash amounts no less than weekly and sending documentation to the corporate accountant.

    Original Description:

    CASH002 Petty Cash

    Original Title

    Acctg Cash002 03-16 - Petty Cash

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    This document outlines the policy and procedures for petty cash transactions. It states that petty cash should be limited to $250 and used for small, non-recurring expenses that require immediate payment. It details that the general cashier is responsible for petty cash disbursements and reimbursements, which must be supported by receipts and approved within 3 days. The policy also lists expenses that petty cash cannot be used for, such as payroll, travel, or items available from regular vendors. It concludes with procedures for reimbursing petty cash amounts no less than weekly and sending documentation to the corporate accountant.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    52 views1 page

    Policy and Procedure Manual

    Uploaded by

    Debbie Langolf
    This document outlines the policy and procedures for petty cash transactions. It states that petty cash should be limited to $250 and used for small, non-recurring expenses that require immediate payment. It details that the general cashier is responsible for petty cash disbursements and reimbursements, which must be supported by receipts and approved within 3 days. The policy also lists expenses that petty cash cannot be used for, such as payroll, travel, or items available from regular vendors. It concludes with procedures for reimbursing petty cash amounts no less than weekly and sending documentation to the corporate accountant.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 1

    POLICYANDPROCEDUREMANUAL

    SOPNO:
    ACCTGCASH0020316
    DEPARTMENT: ACCOUNTINGSUBSECTION:CASH
    SUBJECT:
    PETTYCASHISSUEDATE:MARCH4,2016

    POLICY:PettyCashtransactionsshouldberestrictedtodisbursementsofanonoccurringnatureandor
    whichmustbepaidimmediatelyandforwhichpaymentsbycheckisnotpractical.Itshouldbelimitedtoa
    reasonableamount,nottoexceed$250.

    PROCEDURE:

    1. Totheextentpossible,pettycashdisbursementsshouldbemadeonlybytheGeneralCashier.Inthe
    eventthatanothercashier,outsideoftheGeneralCashier,disbursesPettyCash,itshouldbe
    presentedtotheGeneralCashierinatimelymanner,nolaterthan3days.

    2. AllpettycashdisbursementsaretobesupportedbyaproperlypreparedPettyCashSlip,whichmust
    bewrittenininkandapprovedbytheresponsibledepartmentheadauthorizingtheexpenditure.A
    validoriginal,itemizedreceiptmustbeattachedtothePettyCashSlip.Lackofreceiptwillbe
    consideredashortage.

    3. PettyCashmaynotbeusedforthefollowingexpenses:Payroll,Bonus,AlcoholPurchases,Cash
    Advances,TravelandEntertainment,anyotheritemtypicallyreimbursableviaexpensereport(i.e.
    mealwithaclient),orabletobepurchasedfromaregularvendoroftheproperty(i.e.officesupplies
    thatshouldbeplannedaheadfor).PettyCashshouldalsonotbeusedtoreimburseanyexpensepaid
    byacredit,debit,orgiftcardandshouldbeforcashtransactionsonly.

    4. TheGeneralCashier,uponreimbursementofPettyCash,shouldcanceltheslipandreceipttoprevent
    reuse.

    5. Nolessthanonceperweek,theGeneralCashierwillsubmitarequestforreimbursementofpetty
    cashinaccordancewiththeInvoiceProcessingpolicy,ontheapprovedAtriumPettyCash
    Reimbursementform.TheControllerandGeneralManagermustverifythattherequestedamount
    balancestothetotalpettycashdisbursementsandcancelledpettycashvouchersandreceipts.The
    reviewmustbeevidencedbysignature,anddatedonthereimbursementdate.

    6. PettyCashreimbursementrequestsshouldnotspanmultiplemonths.IfaPCRhasreceiptsfrom
    morethanonemonth,aseparaterequestshouldbecompletedforeachmonth.PettyCashshould
    berecordedinthemonth,forthemonth,oraccruedassuch.

    7. ThePettyCashreimbursementcheckwillbecutviaManagersCheckandmadepayabletotheHotel,
    nottheemployee.

    8. ThePropertyAccountantwillemailacopyofthePCRManagersCheck,PettyCashReimbursement
    CoverSheet,andallsupportingdocumentationtotheCorporateStaffAccountantthedaythepetty
    cashisreimbursed.Failuretodoso,mayresultinthecheckbeingreturned(dishonored)bythebank.

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