The petty cash account is used to make small purchases. It is part of a company's cash balance. This video shows the creation and replenishment of petty cash. @ProfAlldredge For best viewing, switch to 1080p
I can understand that all too well. To summarize the meat of the topic, and ensuring no information is left out, is difficult for many to explain. Unless they actually are doing it
This sort of reminds me of the Head Cashiers Cash drawer. A specific amount is given from the vault in the morning and then the head cashier can give increases through the day when us vault people are not there, we leave a lot earlier than the store being closed.
Thank you very much. How do you reconcile these, Postage 24,Shipping 28, Supplies 14,Misce/Expenses 20 to the Bank Statement? How does the bank statement show these 4 Expenses?
Hi Professor you explained well and easy to understand. Hope you also have a tutorial of xero and quickbooks. Thank you I am following your discussions online. Merc Lavina