In managing the daily business, entrepreneurs must have issued a number of funds to finance daily business activities. Generally, these funds are used as means of payment daily routine. The funds are very liquid because of fast accruing, we can call it petty cash or known as petty cash.
Petty cash is a small number of funds provided in the form of cash and devoted to routine costs. Because the shape of cash, it is susceptible to fraud. We recommend that businesses make this a separate post petty cash by post, this post so as not to interfere with other funding that has been set, for example, so as not to disrupt the capital.
What types of transactions that can be inserted into the petty cash this post?
Usually to meet daily needs, business leaders require spending that is not so great. Items that are included into the petty cash expenditure is dependent on the business needs of everyday life, for example, to spend entertaining guests, buy stationery, printer ink filling, pay for parking, buy petrol, bought the stamp duty and so forth.
Transactions through petty cash expenditures can be managed out of her by the assistant treasurer and secretary. Then the obligations of petty cash expenditures are in addition set also records all incoming and outgoing expenses with specialized books petty cash.
How do I make this post petty cash?
There are several steps that can be used in managing the petty cash is to run in accordance with its function. Among them are the following
The first step
Business leaders need to establish at the beginning, what funds need to be prepared for this petty cash. Of course, the amount varies according to the needs of the daily activities of their respective businesses. For example, from a nominal 500,000 - 3,000,000 rupiah rupiah to daiatas.
The second step.
Make a deal, a transaction on any item that will be dibiayayai by this petty cash. After that proceed to create guidelines and procedures (eg manual) so that transaction made clear its use. In this case the restriction also costs spent on certain items may apply.
Third step.
Train operator (in this case could be an assistant, secretary or anyone who has been appointed) as holders of petty cash, if they do not understand the function and importance of this petty cash. Surely this is influential in making spending decisions that will be issued. Not too stiff but not too loose.
The fourth step.
All transactions that occur or spend necessary records and try to be flexible to recharge.
All transactions in the petty cash must have specific documentation petty cash records. Any transactions, there definitely has a receipt or proof of payment such as slip rates, the evidence is also included to be documented. When business leaders will be to audit internally then it is necessary as a form of accountability.
ATM account opened specifically for this petty cash, be more easily managed, does not mix with other accounts that are not routine. This account will your game directly by operators. Because of its liquid and quickly out spent, then the operator can refill as needed after the approval of the financial sector.
The fifth step
Petty cash deposit can be made by the operator, this can be done by saving them into a cashbox that had been locked or drawer that is not accessible any person other than the operator.
The sixth step
When the monthly reconciliation, the expenditure can be audited. If the evaluation of the change needs to do the next decision. Everything will be recorded and entered into the accounting ledger.
Simulation manage petty cash
Petty cash management can be done in two ways, namely imprest fund system and Fluctuation fund system. Imprest fund system is a funding system that is fixed at the beginning of the month or week.
For example on the imprest fund system, each week prepared a fund of 2,000,000 rupiah for petty cash. It turned out that only expenses 1,500,000 so there are still 500,000 - as the rest of his balance, then the next week the fund needs to be added is 1,500,000, - rupiah so that the funds available are 2,000,000 rupiah back. This system is more main practice.
As for Fluctuation fund system is a funding system that is not fixed. So the shortage will soon be added if necessary, any transaction that is subsequently listed. There is no set amount of initial funding.
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