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I:\Business Office\policies and procedures\cash & banking\petty cash

Replenishment

When the cash balance becomes low, the custodian requests replenishment .  The custodian counts the cash and totals the receipts.  The custodian fills out a request for payment (RFP) form, payable to the college, and signed by the budget originator.  Include instrucitons to the Accounts Payable staff in the section headed “address where check will be mailed”  -- for example:  “please Susan Smith at extension 6258 and she will pick up”.   The receipts, and an adding machine tape or spreadsheet listing the individual amounts and the total, are attached to the RFP.  The RFP lists each expenditure account used, and the total for each expenditure account.  The RFP also lists cash over or short, if relevant.  The amount of cash requested on the RFP should be the amount needed to restore the petty cash fund to the imprest amount.

If the sum of the cash and receipts is less than the imprest amount, the difference is cash short.  If the sum of the cash and receipts is more than the imprest amount, the difference is cash over.  

Example A – cash amount is correct:

The Science Department’s petty cash fund has an imprest amount of $100.  There is $18 in the cash box, and the receipts total $82.  The custodian lists the following on the RFP.

11-0000-00-10066-60001 office supplies

$10

11-0000-00-10066-60007 instructional supplies

72

Total cash requested

$82

Example B – cash over:

The Science Department’s petty cash fund has an imprest amount of $100.  There is $20 in the cash box, and the receipts total $82.  The total of cash and receipts is $102, so the cash box is $2 over.  The custodian lists the following on the RFP.

11-0000-00-10066-60001 office supplies

$10

11-0000-00-10066-60007 instructional supplies

72

11-0000-00-10066-69000 cash over

(2)

Total cash requested

$80

Example C – cash short:

The Science Department’s petty cash fund has an imprest amount of $100.  There is $15 in the cash box, and the receipts total $82.  The total of cash and receipts is $97, so the cash box is $3 short.  The custodian lists the following on the RFP.

11-0000-00-10066-60001 office supplies

$10

11-0000-00-10066-60007 instructional supplies

72

11-0000-00-10066-69000 cash short

3

Total cash requested

$85

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