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Petty Cash Advance Form 2014

Cash Advance Template 2014-2024 Form

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Video instructions and help with filling out and completing Petty Cash Advance Form

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Instructions and help about advance form

A petty cash account is used for small purchases where going through the check approval process is too time consuming. There are two journal entries involved in the petty cash process. Tthe first is the journal entry to establish the fund. The second is a journal entry to replenish the fund when it's out of money. Let's assume a company wants to establish a petty cash fund for $100 and use this for small purchases. The establishment of the fund is a debit to petty cash and a credit to cash for $100. In reality, the company is writing a check made out to cash for $100 and then cashing it. Now the petty cash fund has $100 for small purchases. Let's assume the following petty cash transactions took place during the month of March. Postage: $24.00 Shipping: $28.00 Supplies $14.00, and let's say we had a pizza party for $20.00. At the end of the month, the petty cash box has $86.00 of receipts and $14.00 cash. To replenish the petty cash account, we need money. In this case, we need $86.

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Dalton State College Petty Cash Advance Form 2020
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Dalton State College Petty Cash Advance Form 2014
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