2 DOCUMENTATION

To ensure that the petty cash system is not abused and that payments are made to meet only valid business expenses, there must be a system of authorisation for petty cash claims.

In addition, for accounting purposes, all payments out of petty cash must be properly documented.

2.1 PETTY CASH VOUCHERS

The initial record of any petty cash claim is a petty cash voucher. Blank petty cash vouchers are obtainable from stationery suppliers in pads, and each voucher is torn off the pad as and when it is used. An example of a blank voucher is shown below:

Petty Cash Voucher

No.
Date
AMOUNT
$
¢
For what required
Signature
Authorised

Notes on completing a petty cash voucher

  • •Petty cash vouchers have a unique identification number. For control purposes, they should be numbered sequentially by the person in charge of petty cash.
  • •Each voucher should be dated when it is prepared and authorised.
  • •The details of the expenditure and the amount should be included in the voucher. If there is a receipt, this should be attached.
  • •The person claiming the petty cash should sign the voucher.
  • •The person authorising the claim should also sign the voucher.