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Petty cash definition

Accounting Tools

What is Petty Cash? Petty cash is a small amount of cash that is used to make incidental cash purchases and reimbursements , such as for delivered meals. Petty cash can mitigate the effects of the more cumbersome accounts payable process, which involves the issuance of a check.

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Petty cash box usage issues

Accounting Tools

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Optimal Accounting for Cash A petty cash box is a receptacle in which petty cash bills, coins, and receipts are stored. They are well-organized for petty cash audits. Multiple keys.

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Full charge bookkeeper definition

Accounting Tools

The full charge bookkeeper may supervise various accounting clerks. For example, a billing clerk, payables clerk, or payroll clerk may report to the bookkeeper. The position is most commonly found in smaller organizations where there is no need for a controller , and which has relatively uncomplicated accounting transactions.

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Cash disbursement definition

Accounting Tools

A cash disbursement can also be made to refund a customer , which is recorded as a reduction of sales. Yet another type of cash disbursement is a dividend payment, which is recorded as a reduction in corporate equity. A cash disbursement can be made with bills or coins, a check , or an electronic funds transfer.

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The top 15 best expense management software in 2023

Nanonets

Brex Brex is a comprehensive expense management software that makes it easy to control various kinds of spends, from corporate cards, reimbursements, and travel to bill pay and business accounts—all in one unified system. Sources: [link] 2.

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The Ultimate Expense Management Guide for Businesses

Nanonets

Just to list a few, you can now - Link your Emails and other apps to your expense management system for seamless ingestion of expense bills, invoces and receipts. Link your expense system with accounting software like QuickBooks or Xero for seamless data flow and error reduction. How Happy Jewellers, a SMB, benefitted from NanoNets.