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Petty Cash Book is an accounting book used for recording cash expenses which are small and of little value, for example, stamps, postage and handling, stationery, carriage, daily wages, etc. These are expenses which are incurred day after day; usually, petty expenses are large in quantity but insignificant in value.
Feb 24, 2024 · A petty cash book is a type of cash book that is used to record minor regular expenditures such as office teas, bus fares, fuel, newspapers, cleaning, pins, casual labor, etc. These small expenditures are usually paid for using coins and currency notes rather than checks.
Jan 31, 2024 · A petty cash book is maintained to record small expenses such as postage, stationery, and telegrams. A separate column is used for each type of expenditure. The difference between the sum of the debit items and the sum of the credit items represents the balance of the petty cash in hand.
Petty Cash book is the book which records small cash payment and receipt during daily business operation. It is recorded in a separated chart account which enables to reconcile daily between accounting record and logbook.
Jul 1, 2024 · What Is Petty Cash Book? A petty cash book is an accounting book used to record petty cash expenditures, i.e., small amounts that a company occurs in its day-to-day operations. The date-wise arrangement of records makes it simple to maintain, manage and retrieve data when the date is known.
A petty cash book has a debit and a credit side to show the incomings and cash outgoings from the petty cash account. Just like a normal cash book, a petty cash book is periodically maintained across a month.
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.
