Petty Cash
Most disbursements from a company are made by issuing a cheque (or using the company debit or credit card. There are, however, occasions when actual cash is needed. This situation creates the need for a Petty Cash Box that must be under the control of one person.
This level includes:
- Setting up the Petty Cash Fund
- Payouts from the fund
- Reimbursing the fund
- Changing the total amount in the fund.
The exercises are the same, but with different amounts.