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- Dictionarypetty cash
noun
- 1. an accessible store of money kept by an organization for expenditure on small items: "I took the money out of the petty cash and paid her"
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Petty cash is a small amount of discretionary funds in the form of cash used for minor expenditures. The most common way of accounting for petty cash expenditures is to use the imprest system.
Jun 28, 2024 · Petty cash is a small amount of cash on hand used for paying expenses too small to merit writing a check. Learn how to balance petty cash in accounting.
Jul 30, 2022 · Definition. Petty cash refers to the money a business keeps handy to cover minor miscellaneous expenses. Learn how the petty cash imprest system works and some of its uses.
Definition: Petty cash is the small amount of cash that is kept on hand by a company to pay for minor, inexpensive purchases during the normal course of operations. Petty cash is often used to pay for postage, small office supplies, and other small purchases.
Petty cash is simply any physical cash your business keeps on hand to pay for small, unplanned expenses. Most businesses won’t keep more than a few hundred dollars in petty cash around. They’ll usually keep it in a lockbox or a cash register, and will have some kind of system in place to make sure none of it gets lost.
Definition of Petty Cash. Petty cash or a petty cash fund is a small amount of money available for paying small expenses without writing a check. Petty Cash is also the title of the general ledger current asset account that reports the amount of the company’s petty cash.
Oct 16, 2023 · : cash kept on hand for payment of minor items. Examples of petty cash in a Sentence. Recent Examples on the Web Yes, there’s a bit of petty cash filtering in here and there for their little projects. Heidi Blake, The New Yorker, 16 Oct. 2023 Yet the money, little more than petty cash for Meta, matters less than the message.
PETTY CASH definition: 1. a small amount of money kept in an office for buying small things that are needed: 2. a small…. Learn more.
Definition and examples. Petty cash is a store of money that is easily accessible, i.e., in the form of cash, that companies and other organizations keep for expenditure on miscellaneous and small items.
Jun 28, 2024 · 0. Source: Pixabay. Advantages of Petty Cash. Though we might think of the word “petty” disparagingly, its etymological roots go back to the French ( petit ), simply meaning small, little. Thus “ petty cash ” is a small amount of money kept on hand for quick access. Petty cash can be used for: Snacks, small meals, or other employee rewards.
