Petty Cash Procedures

DAILY PROCEDURES                       

1. Cash Drawer Counting

·        Remove the retained drawer amount first.

·        Count remaining cash.

·        Compare with the paper petty cash transaction sheet.

·        If totals do not match:

·        Review the paper sheet to identify discrepancies.

·        Make an initialed correction if an error is found.

·        Record an over/short amount if no source of error is located.

2. Excel Spreadsheet Updates

·        Enter all transactions from the paper sheet.

·        Confirm entries appear in correct columns.

·        Confirm totals match the paper sheet.

·        Contact the Business Manager if unable to reconcile differences.

 

DEPOSIT PROCEDURES

·        Verify deposit total matches spreadsheet total.

·        Resolve discrepancies before proceeding.

·        Contact the Business Manager if assistance is needed.

 

SENDING PETTY CASH TO HEADQUARTERS

1. Counting & Tallying Denominations

·        Tally counts of $1s, $5s, $10s, $20s.

·        Tally quarters, dimes, nickels, pennies.

·        Record tally information on paper to be included with deposit.

2. Rolling Coins

·        Prepare full rolls when possible.

·        For partial rolls, label the amount clearly on the roll.

·        Use judgment: small quantities stay loose; meaningful amounts may be rolled.

·        Notify the Business Manager when coin-roll supplies run low.