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What is the best practice to book petty cash? Per Cheaque or Monthly Or Yearly , Please Explain.

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Question added by Majid Wangade , Senior Accountant , KANTOUR LIMITED COMPANY ( Real Estate, Construction and Asset Management )
Date Posted: 2016/05/09
Deleted user
by Deleted user

question not clear or wrong

Any way usually Petty cash booking we can't predict how much we are alloted for petty cash fund Like we alloted 10,000 QAR for 01 month target but That 10,000 sometimes will cleared or over within 2 days also that is based on expenses type or number of expenses and transactions for the daily operations.

Deleted user
by Deleted user

Depends as per the requirement of the firm. If too many transactions occur then it would be better to keep as monthly. If not much then per check could be considered.

Ex: - In a retail center monthly rule can be used.

In a manufacturing unit the check rule could be imposed.

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