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Each department will need to establish a Petty Cash Imprest System for issuing petty cash to employees and recording all transactions. Each time the float requires replenishing a Petty Cash Imprest Form must be completed.

Completing the Imprest Form

A summary of the details for each petty cash voucher completed should be transferred to the Imprest Form. The form must be supported by receipted vouchers. These and the authorised imprest forms must be kept for in line with the documentation retention policy.
Any petty cash transactions relating to research grants should be recorded on a separate Research Grant Petty Cash form. The total of this form is then transferred to the Imprest Form.

Posting the items to UFS

The imprest form and the Research Grant Petty Cash form, if used, are the source document(s) for posting petty cash journals. Where items are to be recharged to a research grant, first enter a Grants journal in UFS, followed by a GL journal to reflect the Imprest Form transactions.
The imprest form journal should be authorised by the Department Administrator, expenditure should be charged to the relevant GL expenditure account and a corresponding credit entry posted to the department petty cash control account.

Debit  U.XX.????.????.E???.0000    (Department expenditure code)
Credit U.XX.0000.0000.SPAA.0000    (Petty Cash Control Account)

The journals must be posted to UFS prior to the replenishment of the float and the journal posting reference should be written on the imprest form and authorised as complete.

Refer to the Finance Training guidance on raising a Petty Cash GL journal and Research Grant journal

Collecting the petty cash float

Department petty cash floats should be replenished at least once a month if any activity has occurred. In cases where there has been no activity for a period of three months or more the department, together with advice from the Finance Division, should re-assess the need for and the level of the float.
The replenishment of petty cash floats must be arranged through the Cash Management team for collection direct from the bank unless otherwise arranged in advance by the Finance Division. Cash takings (e.g. from vending machines) must never be used to supplement or replenish petty cash floats.
Departments must have posted their petty cash journal(s) on UFS before the replenishment can be collected from the bank.
A copy of the completed imprest form should be emailed to the Cash Management team to order a replenishment. Please allow 3 days notice
The Cash Management team may refuse to issue petty cash floats if discrepancies with the imprest form are found, pending approval from the Director of Finance. 

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