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What is a Petty Cash Voucher?AccountingCoach  Form

What is a Petty Cash Voucher?AccountingCoach Form

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hello everyone welcome back and i'm also glad to be back i'm coach orlan and we will talk about petty cash fund if you remember our previous video we talked about the establishment of impress system the impress system is where all deposits or cash receipts within the day are deposited to the bank intact and all disbursements are made through checks sometimes though that rule about disbursements is impractical if expenses are only consisting of small amounts it would be impractical for even the smallest amount of expenses to be approved by the highest authority like the ceo or cfo as such a petty cash fund is established for small amounts of cash disbursements petty cash fund is money set aside for small amounts of cash disbursements through this system we don't need any more to seek approval to the highest management regarding small amounts of expenses instead lower management can just approve provided that it is in ance with company policy regarding petty cash

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