Freedom Lover
Freedom Lover answered
A petty cash receipt is a receipt indicating that cash was taken from the petty cash box. Generally, the receipt for what was purchased, along with the change, should be placed back into the petty cash box for proper general ledger classification by the accounting department.
Freedom Lover
Freedom Lover answered
Accounting departments typically handle a variety of important tasks. Such tasks often include invoicing customers, accounts receivable monitoring and collections, account reconciliations, payables processing, consolidation of multiple entities under common ownership, budgeting, periodic financial reporting as well as financial analysis. Also common are setting up adequate internal controls for all business processes (to prevent theft/misappropriation … Read more