What is Petty Cash?
Petty cash refers to small amounts of cash that is kept aside for operational expenses or logistics.
Petty cash can be used to pay for small purchases which require cash, such as food for the office lunch, coffee supplies, or for parking.
Every purchase using petty cash must be recorded in the same way as other business income and expenses. Entering petty cash transactions in the system help track these expenses, so they can be used to offset income for business tax purposes.
This feature facilitates adding the receipt and expense details at any point of time, even for previous dates. Details of any number of days can be collated and generated as a single report.
Who can add Petty Cash Categories?
Can I transfer business cash into petty cash?
Yes, business cash can be transferred into petty cash. Learn how to.
Can I delete Petty Cash entry?
Users with Manager or Owner roles can delete a petty cash entry. Note that once you submit your closure after a business cash entry, you can't delete business cash entry.
How to add previous days' petty cash entry?
Go to any past date in appointment book where you want to add petty cash entry and follow the same steps as you do to run the current date's report. Learn how to.
Where can I find petty cash report?
Follow these steps:
- On the main menu, click Admin.
- On the Admin Dashboard, click Reports > Accounting.
- From the Select a Report list, click Daily Petty Cash.
- Select a time frame for the report, and then click Refresh to see the report.