Record Keeping: A petty cash log helps to keep track of all transactions made using the petty cash fund. Having a petty cash log is important for several reasons: Miscellaneous Expenses: Petty cash can be used to cover miscellaneous expenses, such as tips, gifts, and donations. Travel Expenses: Petty cash can be used to pay for small travel expenses, such as taxi fares, tolls, and parking fees.Įmployee Reimbursements: Petty cash can be used to reimburse employees for out-of-pocket expenses incurred while on business trips or conducting company business. Small Equipment and Repairs: Petty cash can be used to purchase small equipment and supplies, such as batteries, light bulbs, and other items needed for maintenance and repair. Postage and Delivery: Petty cash can be used to purchase postage stamps and pay for delivery services, such as courier or messenger services. Refreshments: Petty cash can be used to purchase refreshments, such as coffee, tea, and snacks, for employees and visitors. Office Supplies: Petty cash can be used to purchase office supplies, such as paper, pens, and printing ink. Petty cash is a small amount of cash that is set aside by an organization for use in making small, routine purchases that are not significant enough to require a check or other formal payment method.
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