PETTY CASH EXPENSES EXCEED FLOAT

[Elisa 2]

Hello Everyone

I have a small issue. I am retiring the Petty Cash but has come across some that the petty cash expenses have exceeded the petty cash float?

How should this be treated in the retirement of petty cash?

Thanks.

[kamranACA]

Elisa

You can settle the petty cash reimbursment partially. Firstly, account for the expenses upto the available float. Secondly, replenish it by an input cheque or cash to increase/refill the float. Thirdly, account for remaining expenses to equalize.

Regards,


KAMRAN.