Actions required
| Completed | Action |
|---|---|
| Ensure petty cash is stored in a suitable safe or locked drawer and never left unattended | |
| Ensure the Imprest Form is completed and posted to the ledger, prior to replenishing the float | |
| Check each payment from petty cash has supporting documentation and is properly authorised | |
| Ensure every claimant has signed for receipt of monies | |
| Review the nature and level of expenditure to determine if petty cash is the appropriate method of payment | |
| Review petty cash limits and reduce where possible and as necessary | |
| Ensure petty cash is replenished at least once a month if any activity has occurred | |
| Certify the petty cash float and advances balances at half-year and year-end, ensuring cash in hand and advances agree to UFS | |
| Notify the Head, Accounting Services immediately of any lost or missing petty cash | |
| Ensure Handover Form is completed should you leave (see below) |
Change of petty cash administrator
In the event that the person responsible for administering petty cash should change, or the role holder will be absent (e.g. on holiday), the person taking over should ensure a suitable handover is done. The Petty Cash Handover form must be completed in all instances.
If the petty cash administrator is part-time and there is a requirement for petty cash outside their normal working hours then it is recommended the petty cash float is split between two role holders.
The Accounts Receivable team, as well as the Cash Management team and cashiers should be notified of the change in petty cash administrator.
