PETTY CASH RECOUP/AUDIT
- Count the Cash left in the Petty Cash Tin by filling up the form
- Total the amount of all the Petty Cash Voucher
- Each voucher should be received and approved by Ben
- Cents should be rounded to ie:
- .37 cents should be rounded to .35 cents
- .38 cents should be rounded to .40 cents
- Ben to issue cheque for the total Vouchers, payable to CASH (pls sign also at the back of the cheque)
- Cash in to the Bank with required denominations
- Don’t forget to bring ID (Identification)
NOTE: Total of Cash and Total Vouchers should be exactly Total Petty Cash Float which is $500.00
Prepare summary of all the vouchers with Account Codes for Book Entry
For Petty Cash Custodian
- Petty Cash Voucher should be filled up by claimant attaching the receipts/Invoice
- Description should be clear as to what the expenses was for
- Voucher should be approved by Ben before paying
- Attached the Receipts at the back of the Voucher
- Once signed received by the Claimant stamp “Paid” the receipts/Invoice
- Paid vouchers and cash together in the Tin
The Cash and total of the Vouchers should be always totalled to the Float of $500.00
Recoup
- Fill up the form “Petty Cash Recoup/Audit”
- Count the Cash Remaining by denominations
- Total all the vouchers paid
- Signed by the PC Custodian and Approval by Ben
- Send to Nida Brillante for review and entry (optional if the Custodian knew what to do)
Review/Sorting/Entry by Nida
- Audit/review the Petty Cash Form submitted by the PC Custodian
- Report to Ben any discrepancy or discuss to PC Custodian
- Summarise the Petty Cash Voucher with dates, description, account codes dates and amount (Net GST, GST, Gross) into different sheet in the same file
- If Invoice have mixed amount of GST free or with GST, pls do two line
- Milk-GST free
- Tissues-with GST
- Ex: 2 lines should be
- General expenses-with GST (tissues)
- Genera Expense-gst free (Milk)
- Put same date of the vouchers and put A and B on the or C if more than 2, description so that you can identify easily which is belong to same Voucher
- Sort the date
- Copy the Sheet into another sheet
- Sort the Codes
- Separate the GST-Total each category
- Enter as Payable like a normal Invoice to Petty Cash put the Invoice number as PCR-Date of the recoup ie: PCR-30 June 2017
- Then enter and to be approved
- This entry will be reconciled in the bank lines when Petty Cash cheque presented in the Bank
Please see the attached samples