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- Dictionarypet·ty cash/ˌpedē ˈkaSH/
noun
- 1. an accessible store of money kept by an organization for expenditure on small items: "I took the money out of the petty cash and paid her"
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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.
Jul 30, 2022 · Petty cash refers to the money a business keeps handy to cover minor miscellaneous expenses. Learn how the petty cash imprest system works and some of its uses.
Jul 26, 2022 · Petty cash is a small amount of cash a company keeps on hand to cover small expenses. It is also known as a petty cash fund. This money is used for minor or incidental expenses. Companies sometimes do this to avoid using a credit card or writing a check.
Definition: Petty cash is the small amount of cash that is kept on hand by a company to pay for minor, inexpensive purchases during the normal course of operations. Petty cash is often used to pay for postage, small office supplies, and other small purchases.
Definition of Petty Cash. Petty cash or a petty cash fund is a small amount of money available for paying small expenses without writing a check. Petty Cash is also the title of the general ledger current asset account that reports the amount of the company’s petty cash.
Petty cash is simply any physical cash your business keeps on hand to pay for small, unplanned expenses. Most businesses won’t keep more than a few hundred dollars in petty cash around. They’ll usually keep it in a lockbox or a cash register, and will have some kind of system in place to make sure none of it gets lost.
Petty cash refers to a small amount of money kept on hand by a company to cover minor, yet necessary and unexpected expenses, thereby side-stepping the cumbersome process of issuing checks or completing an expense report for small amounts.
Mar 12, 2024 · Petty cash is a small amount of discretionary cash that a business will keep afloat in the office. It’s to cover ad-hoc expenses that would be inconvenient to write a cheque for. Cue last-minute meeting sandwiches when a big client comes to town.
Oct 16, 2023 · noun. Synonyms of petty cash. : cash kept on hand for payment of minor items. Examples of petty cash in a Sentence. Recent Examples on the Web Yes, there’s a bit of petty cash filtering in here and there for their little projects.
a small amount of money kept for buying cheap items, esp. in an office. (Definition of petty cash from the Cambridge Academic Content Dictionary © Cambridge University Press) petty cash | Business English. noun [ U ] uk us.
