Verify the opening cash balance, by checking the previous petty cash reconciliation or totaling the amount of cash checks written since the last reconciliation was done. For this example, a check ...

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 ...

Reconciliation procedures for GAAP follow the matching principle. In the case of petty cash, this means every cash disbursement should have a matching purchase voucher. As the reconciliation takes ...

Once the checks have been received, they and any remaining cash on hand should be brought to the Cashier’s Office and receipted by the Cashier into the Banner fund. Petty Cash Reconciliation Petty ...

I. Reconciling the Departmental Petty Cash Fund As a good internal control, the department should reconcile the fund at least monthly. This verification should be conducted by two people together, ...

Petty cash is a small amount of cash on hand used for paying expenses too small to merit writing a check. Learn how to balance petty cash in accounting.

A PI may request cash to pay human subjects. This advance requires a monthly reconciliation which must include a subject identifier, date, and dollar amount disbursed. The PI is responsible for ...