Tracking petty cash


Here are a few simple ideas on how to handle petty cash in your medical office:

  • Have a set amount on hand...say $100 or $200.
  • When petty cash is spent, get a receipt and have it signed by the person authorizing the expense.
  • Put the receipts in the drawer.  The total of cash and signed receipts should always equal $100, $200 or whatever the set amount is.
  • When cash drops below a certain threshold, write a check for cash to replenish based on the signed receipts in the drawer, accounting for those expenses accordingly.
  • Balance petty cash at least monthly....more often if it is used frequently.

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