1. Petty Cash management and Handling cheque Payments Bridgette Lee Line 3 Michael Barry Due Friday 14 th

2. What is Petty Cash Petty cash is a small fund of money, kept in the office for small purchases such as postage stamps, tea, coffee and milk, pens or paper, taxi fares etc. Petty cash is also available for for other substances that are needed around the work place.

3. How to use Petty Cash A cheque is written out and cashed and the money is placed in a petty cash tin. Each time money is spent the transaction is written up in the petty cash book (manually or using computer software). The petty cashier will keep track of the total amount spent. The receipts or other proof of documents, will always equal the petty cash amount.

4. Security for Petty Cash Petty cash should be kept in a locked box/ money tin in a locked safe, cupboard or drawer, out of public view. The amount and location of the petty cash fund should not be discussed.

5. Storing Petty cash You may store petty cash in some sort of safe or lockable box which only the petty casher can access. Also a lockable cabinet then can only be gotten into with a key or a code.

6. Reconciliation of Petty cash Update the Register of Petty Cash Payments. Total the petty cash payments listed on the Register. Count the balance of cash held for the petty cash float. Ensure that the sum is equal to the original amount of the petty cash float issued.

7. What is a Cheque payments A written order (usually on a pre-printed form) directing a bank to pay a specified amount of money to a particular person. A document that can be used to pay things of eg: bills or when giving a present. A cheque can only be signed out the the persons name who is on the cheque no one else is able to use it eg: writing not negotiable means no one else can have the money.

8. How to use a Cheque

9. Security for Cheques Keep your cheque book in a safe place. Never pre-sign cheques. When posting cheques, make sure they cannot be seen in the envelope. When writing cheques, the amount of the cheque, in words and figures, should begin as far as possible to the left of the spaces provided, so that other words cannot be added. Any alteration to the cheque must be confirmed by full signature/s.

10. Storing Cheques Always store your cheque book in a secure place. Report the theft or loss of a cheque book immediately to the Bank. Do not give a blank cheque to anyone, signed or unsigned. When writing a cheque ensure you leave no blank spaces that would allow the addition of extra words.

11. Reconciliation of Cheques Always check cheque buts against bank statements to see what cheque have been presented. Ensure that you have money in your bank to cover non presented cheques, this will ensure you have money in your bank to cover these in the future.

12. Summary Today in my presentation I talked about procedures in petty cash and cheques, I hope my audience had a great understanding of these points and have learned more about banking and money. For more information check out this website: http://www.hsc.csu.edu.au/.

13. Website References HSC Bank online : http://www.hsc.csu.edu.au/business_services/servic es_120/documents/2600/important1.html. This site was very useful showed me how to understand the rules of petty cash. Scotia bank online: scotiabank.com/cda/content/0,1608,CID8367_LIDen, 00.html. This web page helped me have an understanding of reconciliation of cheques didn’t get much information of this only a few ideas.