Petty cash SOPs are stKamurd operating procedures that must be followed to manage funds used to pay for small needs.
This usually involves the in and out of cash coming from the office's cash savings.
With a petty cash SOP, you will ensure that the money spent on these small things can be controlled and accounted for.
In the petty cash SOP, there are several things that must be considered.
First, you have to make sure that there is a person in charge who is responsible for overseeing the entry and exit of money.
This person in charge will be responsible for ensuring that the use of the requested funds is in accordance with the predetermined objectives.
Secondly, you should set clear limits on how much money can be spent from the cash savings of the office.
This is important to ensure that the funds are not used for personal gain.
Thirdly, you must ensure that all transactions made with cash are recorded correctly.
This is important to ensure that any use of funds can be accounted for and controlled.
This record should include information about the recipient, the amount of money received, and the purpose of receipt.
Fourth, you must ensure that the money used for petty cash can be accounted for.
This means that you must keep proof of payment for each transaction made.
This proof of payment must be recorded correctly and can be accounted for if needed.
By following the petty cash SOPs mentioned above, you will be able to control and ensure that the money used for these small needs is used according to predetermined goals.
Thus, you will be able to ensure that all transactions made with cash can be properly accounted for and controlled.
