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How to Do Petty Cash Accounting & Recording in 4 Steps

August 1, 2018

A petty cash fund is a small amount of money, usually under $500, used to cover incidentals. Petty cash accounting involves establishing a petty cash policy, setting up a petty cash log, creating journal entries, and reconciling the petty cash account. Accounting can be done manually or made easier with bookkeeping software and employee expense cards.

The four steps to do petty cash accounting and recording are:

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