Petty Cash Fund

Petty Cash Fund

A budgeted amount of money a company periodically replenishes to pay for minor purchases. A company may withdraw the petty cash fund from the bank every two to four weeks and keeps it in cash. This cash may be used, for example, to pay for lunch for employees once a week. Because the petty cash fund is a budgeted item, it helps reduce the likelihood that the company will overspend.
References in periodicals archive ?
Keller also is suspected of having altered donation records in order to keep cash for herself; making personal purchases with the agency's credit card at Walmart and other stores; and diverting money from the charity's petty cash fund for her own use, Willis wrote.
Instead she kept every penny for herself, and at the same time was raiding the home's petty cash fund of up to PS200 a week.
Those sales brought $650, which was "added to the unofficial petty cash fund maintained by the highway surveyor instead of being turned over to the town treasury," according to the state report.
Personal checks are cashed through either the petty cash fund or daily receipts
REDLANDS -- The Redlands city treasurer has been arrested and accused of taking about $37,000 from a petty cash fund.
Tracey Ridgeway also stole cash from the Kingsway Community Pre-School's petty cash fund and from a Christmas fund she was responsible for collecting.
I'd always leave a bit for my Christmas petty cash fund in an old jam jar by the window.
At the same time, Prof Verdi has been rapidly building the Barber's store of works on paper, helped by a petty cash fund which allows him to spend up to pounds 30,000 'over the counter' without reference to the trustees.
With Works Procisa, Teacher's now uses Visa Purchasing cards as their primary payment option instead of checks and a petty cash fund.
Expecting a contribution that Could go into the petty cash fund, the department was surprised by a $500 check.
Employees of corporations can be considered criminals if they can't tell the courts what a petty cash fund was used for, or why a particular investment doesn't appear on company books.
When it is not practical to make a payment by check (for instance, the mail carrier stops at the front desk with a bill for 9|cents~ postage due), a petty cash fund simplifies such tasks.