Accounting Tools

JUNE 21, 2024

What is Petty Cash? Petty cash is a small amount of cash that is used to make incidental cash purchases and reimbursements , such as for delivered meals. Petty cash can mitigate the effects of the more cumbersome accounts payable process, which involves the issuance of a check.

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Petty cash Billing Accounts Payable Accounts Payable 40

Accounting Tools

JUNE 5, 2024

What is Petty Cash? Petty cash is a small amount of cash that is used to make incidental cash purchases and reimbursements , such as for delivered meals. Petty cash can mitigate the effects of the more cumbersome accounts payable process, which involves the issuance of a check.

Petty cash 40

Petty cash General Ledger Deposits Reconciling 40

Accounting Tools

JULY 18, 2023

When specific bad debts are identified, you then debit the allowance for doubtful accounts and credit the accounts receivable account. Example Expense Journal Entries Accounts payable entry. When an account payable is paid, debit accounts payable and credit cash. Petty cash entry.

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Petty cash Accounts Payable Accounts Payable Accounts Receivable 75

Accounting Tools

MAY 12, 2024

Purchasing Cycle In the purchasing cycle, a company issues a purchase order to a supplier for goods, receives the goods, records an account payable , and pays the supplier. There are several ancillary activities, such as the use of petty cash or procurement cards for smaller purchases.

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Petty cash Revenue Cycle Purchase Order Accounting 75

Accounting Tools

MAY 21, 2023

Responsibilities of a Full Charge Bookkeeper The subject areas over which the full charge bookkeeper has responsibility are as follows: Record and pay accounts payable Issue invoices to and collect from customers Calculate pay and issue payments to employees Create financial statements and related financial reports Remit payroll taxes , sales taxes (..)

Bookkeeping 75

Bookkeeping Petty cash Payroll Collections 75

Accounting Tools

FEBRUARY 3, 2024

How are Cash Disbursements Made? Cash disbursements are usually made through the accounts payable system, but funds can also be disbursed through the payroll system and through petty cash. Payments made through the payroll system are intended solely for compensation disbursements to employees.

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Petty cash Accounts Payable Accounts Payable Payroll 40

Accounting Tools

JULY 28, 2023

Must be detail oriented and comfortable using computer-based accounting systems.

Petty cash 40

Petty cash General Ledger Purchase Order Reconciling 40