![]() Simply record all the information on the log at the time of the payment and use the calculator to subtract the total disbursement from the previous balance as indicated on the line above. In the first case, recording the petty cash disbursement is easy. In this case the final amount spent and/or the vendor may not yet be known, and a receipt will not be available when the cash is initially disbursed. ![]() a $25 bill is paid COD, and the vendor gives you a receipt at the same time the bill is paid, orĢ) From the cash box to the person who will make a purchase outside the restaurant. Typically petty cash is disbursed in two ways:ġ) Directly from the cash box to the recipient or vendor (e.g. Now let's get down to the actual disbursement and tracking of the funds. Note: Keep a calculator in the box so that the running balance can be accurately maintained! Balance (the new balance that is remaining in the box).Vendor (name of the person or vendor who is receiving the cash).Name (the employee who is spending/disbursing the cash).Each line should have the following information: Begin at the top by recording how much cash is in the box when the new log begins. You can do this by creating a simple spreadsheet (so that you can easily make replacement copies) with twenty or so horizontal lines. Make sure to use a petty cash log to track each disbursement that is made. The account Type should be "Other Current Asset".Ĭash the check and then break it down into useful denominations and change. Code this check to a new general ledger account named "Petty Cash". In this case the contents need to be counted at the beginning and end of the shift so that the designated person can be held responsible for any unaccounted for cash and receipts.įirst off you need to "fund" the account by writing a check, say $200.00, from your operating account. In the event that petty cash is needed on a regular basis, and the safe is not in a convenient location, then you might make the bartender or shift manager responsible for it. The petty cash box should be stored in your safe, and accessed only by the owner/manager when required. Go to an office supply store and get yourself a simple metal cash box for $20. Use a separate petty cash box to disburse and account for all your daily petty cash expenses. This creates another set of problems at the end of the day when the cash drawer is short, and unaccounted petty cash is now added to the list of possible explanations! Moreover, my experience indicates that even with the best of intentions many of these cash disbursements are not properly accounted for with receipts that indicate how the funds were used. ![]() That is way too many hands in the cash till to suit my tastes, and is very dangerous from the point of view of inviting theft. The bartender needs some cash for soda or limes, the shift manager needs cash for cleaning supplies or light bulbs, or the owner might need some cash to pay for a small printing job at the corner copy center. Most restaurants use their POS cash drawer as a source of petty cash for daily incidental expenses.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |