Chapter 9.2 Accounting for Cash Payments

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Presentation transcript:

Chapter 9.2 Accounting for Cash Payments

Electronic Payments

Petty Cash Small purchases within a business -- Under $200 each For example: Pay courier driver Postage One box of labels for printer

Petty Cash Every time an employee asks for money from Petty Cash a Voucher MUST BE filled out.

Establish Petty Cash Fund Petty Cash 300. 00 Bank 300 Establish Petty Cash Fund Petty Cash 300.00 Bank 300.00 Pay employees when they give you a petty cash voucher Replenishing Petty Cash Building Maintenance 115.50 Postage 30.00 Supplies 9.00 Truck Expense 110.00 HST Recoverable 34.39 Bank 298.89

Increase the Petty Cash Fund for $500 from $300 Petty Cash 200 Increase the Petty Cash Fund for $500 from $300 Petty Cash 200.00 Bank 200.00

Homework Review Questions 1-8 page 353 Exercises 1-4

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