The purpose of petty cash is to pay for minimally priced business transactions in a cost effective way. Petty cash can only be used for transactions that are not reported to the Internal Revenue Service.Continue Reading
Petty cash should be set up as an individual fund with all transaction requests and receipts and replenishment of funds being properly recorded for auditing purposes. A fund custodian is appointed to maintain and reconcile the account.
Vouchers are used to request cash from a petty cash fund. Vouchers must be pre-approved before cash can be disbursed. Receipts for purchases are matched up to voucher requests and maintained for account reconciliation.Learn more about Personal Banking
Many supermarkets now have Coinstar Exchange kiosks that can exchange gift cards for cash. Entering your ZIP code or city and state at Coinstar.com will help you find the nearest location that provides this service.Full Answer >
A debit note is issued when an account is debited and no invoice or cash receipt is issued. The debit note is a document that shows the reason for the debit entry in the account.Full Answer >
Writing a check for cash can be done two ways. A person can either write the word "cash" in the "Pay to the order of" blank line on a check or put his own name in that payee space.Full Answer >
Some ways to get cash quickly include selling plasma, participating in focus group studies, returning past purchases, and selling used scrap metal. These unusual methods are accessible to most individuals and can result in immediate payment.Full Answer >