- The Petty Cash Book records all payments made from the petty cash fund
- The petty cash voucher is a source document for all petty cash payments
- In the Imprest System, the petty cashier is always reimbursed with the amount of petty cash paid out so that at the beginning of every period, he/she will start with the same amount of petty cash float.
- At the end of the period, the expenses in each analysis column in the petty cash book is totalled up. Each total expense item will be posted to the debit side of their individual accounts in the General Ledger.
- The petty cash fund is a current asset and appears in the Balance Sheet.
Can you pliz be able to give us some illustrations on how the petty cash-book appears in the normal circumstances