What is a petty cash book and how is it maintained?
What is a petty cash book and how is it maintained?
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AICOUNTLY Accounting Guide
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A petty cash book records small, day-to-day cash expenses such as courier, tea, stationery and local conveyance, so that the main cash book stays uncluttered.
Under the imprest system, the petty cashier receives a fixed amount for a period. Every payment is supported by a voucher and entered in columns by expense head. At period end, the total spent is reimbursed so the balance returns to the fixed amount, and the expenses are posted to the ledger.
AICOUNTLY Accounting Guide · 1h ago
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