What Is Petty Cash? How to Set Up & Manage It

Whatis petty cash book? Write the advantages of petty cash book?

Imprest Petty Cash: In the imprest system, a fixed, predetermined amount of cash is kept for a certain period, which normally does not fluctuate

paticash 2 Fixed system of petty cash Unlike the open system, here, the petty cashier is given a fixed amount of money for a fixed amount of period Once the period is

paticash The cashier creates a journal entry to record the petty cash receipts This is a credit to the petty cash account, and probably debits to