1. Chapter 17 Petty cash BSBCMN207A/01—Process petty cash transactions
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

2. Process petty cash transactions Summary
Contents
Process petty cash transactions
Petty cash (BSBCMN207A/01)
Summary
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

3. Petty cash (BSBCMN207A/01)
This is a system that allows for the payment of items that are too small to warrant payment by anything other than cash
Petty cash imprest amount
Cash on hand in the fund
Petty cash vouchers for any payments for expenditure = +
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

4. Petty cash (BSBCMN207A/01) cont.
Policies and procedures should include:
Specific duties of petty cash officer
The amount of the petty cash fund
Account names that could be used
Fares
Refreshments
Stationery
Security of actual cash is vital to avoid theft
A sequentially numbered petty cash book must be used
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

5. Petty cash (BSBCMN207A/01) cont.
Control measures
Petty cash officer solely responsible for recording process
Exact proof of expenditure for each item
Rotation of duties
Random auditing of petty cash records
Regular balancing of the fund
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

6. Petty cash (BSBCMN207A/01) cont.
Checking petty cash claims and vouchers
Type of expenditure must come under established account guidelines
All claims are to be work-related
Maximum claim amount set at, say, $30.00
Claims must be current (within 30 days)
Claims for payment must be authorised by supervisor
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

7. Petty cash (BSBCMN207A/01) cont.
The petty cash voucher and appropriate receipt
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

8. Petty cash (BSBCMN207A/01) cont.
The petty cash imprest cheque
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

9. Petty cash (BSBCMN207A/01)
Change required slip (for presentation at the bank)
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

10. Petty cash (BSBCMN207A/01) cont.
Recording the imprest cheque in your petty cash book
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

11. Petty cash (BSBCMN207A/01) cont.
Recording petty cash transactions
Proof of expenditure agrees with amount being claimed
Proof of expenditure has not been altered
Voucher date is reimbursement date
Account names are accurate
Transaction is briefly described
Voucher is signed by person seeking reimbursement
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

12. Petty cash (BSBCMN207A/01) cont.
Recording petty cash transactions
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

13. Petty cash (BSBCMN207A/01) cont.
Balancing your petty cash book
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

14. Petty cash (BSBCMN207A/01) cont.
Petty cash cheque requisition
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

15. Petty cash (BSBCMN207A/01) cont.
Completed petty cash book page
With balances brought forward
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman

16. Summary
Petty cash is a vital part of any business as it allows staff to purchase small business-related items with cash.
The role of the petty cash officer is to keep the petty cash records up to date and balance claims with expenditures and injections of cash.
All transactions must be accountable and related to the business.
Copyright  2007 McGraw-Hill Australia Pty Ltd PPTs t/a Office Skills: A Practical Approach 4e by Horsfall and Turner
Slides prepared by David Plowman