Free Accounting Petty Cash Management Memo Template
Accounting Petty Cash Management Memo
To: All Employees
From: [Your Name], Head of Accounting
Date: [Current Date]
Subject: Guidelines for Petty Cash Management
The purpose of this memo is to clarify and establish guidelines for the management of petty cash across all departments. Our aim is to streamline the process, alleviate any misunderstandings while ensuring transparency and accountability in the use of cash funds.
Procedures
In an effort to strengthen our internal controls and financial accountability, we are implementing a new finance procedure in relation to the petty cash management. It is important for each department to adhere to the following guidelines:
Handling
Access to the cash box should be limited to a designated petty cash custodian, who will be responsible for the fund disbursement, safekeeping, and reconciliation.
Reimbursement
In order to replenish petty cash funds, an accurately completed and approved reimbursement request form should be submitted along with receipts and vouchers detailing each expense.
Record Maintenance
It is crucial to keep well-organized records of all the transactions including receipts, vouchers and payment references.
Auditing
Furthermore, regular audits will be carried out unannounced to ensure compliance with the procedures and to verify that the petty cash fund balance aligns with the records.
By adhering to these guidelines, we can maintain a level of security, accountability and transparency in our petty cash management. If you have any questions or need further clarification, feel free to contact me at [YOUR COMPANY EMAIL] or call us at [YOUR COMPANY NUMBER].
Your cooperation and dedication to implementing these guidelines is important. Thank you.
Sincerely,
[YOUR NAME]
Accounting Department
