Your Petty Cash System
Small cash payments can easily fall through the cracks, complicating your checkbook and records. The either/or dilemma is often between writing checks for trivial amounts (annoying) and letting small cash payments fall through the cracks (non-compliant). The Petty Cash Fund is the simple, compliant solution.
The best way to manage these is with a dedicated petty cash fund. When you replenish the fund, summarize the expenses from the slips and record them in the proper categories in your main business books. This Simple system ensures every expense, no matter how small, is tracked compliantly.
Ready to build a solid foundation? Read more on this topic by visiting https://www.safesimplesound.com/business-checkbook-strategy/.
DISCLAIMER: This content is for educational purposes only and should not be considered personalized financial advice. Always consult with a qualified financial professional before making financial decisions.