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How to Write a Check to Petty Cash by Kathryn Hatter - Updated September 26, Many businesses keep a petty cash fund to pay for small daily business expenditures such as office supplies. To set up and maintain a petty cash fund, you must fund it with monies from your business.
The simplest way to do this is to write a check to petty cash using your business checking account. With careful accounting, maintaining a petty cash fund will help simplify business transactions. Place the current date on the date line of the check.
Add the amount of the check in the dollar box. Write out the dollar amount in words on the appropriate line of the check. Sign the check with your signature. Record the check in the check register for the checking account.
Present the check at your bank and receive the correct amount of cash. Request the cash in the bill and coin denominations you desire to make it easy to make purchases with the petty cash.
Place the petty cash into the box and create an accounting journal to record petty cash transactions. Write the amount of the check you wrote for petty cash after this entry. Write "CR" Credit and "Petty Cash" next and write the same amount as the amount of cash you placed into the petty cash box.
Give one person the key and the responsibility for using the cash and accounting for it. Record the times you use petty cash on the journal. Include a description of the expenditure, the date and the amount of cash you used from the petty cash box.
Place receipts to verify the expenditures into the petty cash box. Add up the expenditures on the journal as you use the petty cash. The total of the expenditures and the amount of cash in the petty cash box should equal the total amount of cash you placed in the cash box.
Replenish the petty cash when you use almost all of it. Write another check to "Petty Cash" for the total amount of the expenditures. This will bring the petty cash total back up to the original total again.
Record the amount of cash you place into the cash box to replace the petty cash on the journal as a credit and add the date. References Real Life Accounting; Replenishing Petty Cash; January About the Author Kathryn Hatter is a veteran home-school educator, as well as an accomplished gardener, quilter, crocheter, cook, decorator and digital graphics creator.
Hatter has also had publication on home improvement websites such as Redbeacon. Cite this Article A tool to create a citation to reference this article Cite this Article.Check Writing How to Write a Check Lessons.
Use the following lessons to learn how to write a personal or business check. Also, see our main checking category for our comprehensive check lesson material, tutorials, and to practice check writing including writing dollars and cents..
How to Write a Check. CashCourse® is a free, online noncommercial financial literacy resource for colleges and universities, created by the nonprofit National Endowment for Financial Education®.
The program provides customizable, interactive personal finance tools used at more than . Congratulations! Get your papers done by real academic pros in the blink of an eye. With us you can pay for an essay and get % great services to save your time.
Bring a valid photo I.D. to any branch of your bank. If you hold an open account of any type with a bank, they will cash a valid check for you. However, when you cash a check in person, you may be required to show a valid photo I.D.
Driver’s licenses and passports are usually the best choices. Feb 29, · How To Write Out The Amount On A Check. In my previous post, I showed you how to write a vetconnexx.com, let’s talk about how to write out the amount on a check. When you need cash, you can write a check to "cash" and take it to your bank to obtain an immediate withdrawal from your account.
The bank will check to see if you have enough money in your account to cash the check.