What is the fund?

Also known as Petty Cash Fund, the Fund is again a type of cash reserve, which is earmarked for management of small expenditures that may occur during the daily operation of the company. The proceeds in this fund are usually held as currency and coins and according to the principles and procedures of the company are entrusted to the fund manager or cashier for payment. Companies of all sizes and types are likely to have a kind of small cash or a means of a means of time at hand, allowing you to quickly buy office supplies or other items without having to go through formal ordering and purchasing.

The Fund structure is usually very simple. A small company can manage this type of trading source by maintaining the offer of currency and coins in a locked socket or in a small vault on the business page. Most companies will set minimal and maximum limits for the total amount of money that can be stored in the fund at the same time. Setting these limits usually involves considerPurchase type, which can be done using the fund's sources, and also allow the average price of these types of purchases.

As with any type of financial account, the entry account will be monitored and regularly reconciled. Reconciliation usually requires revenue for any purchases made from the fund from the Fund since the last reconciliation was, added any deposits made to the fund, and then compared the balance of the book on the fund for rejection with the physical number of cash. V závislosti na velikosti podnikání může k tomuto typu usmíření dojít každý týden nebo o dvojitý týden, ale měl by se provádět alespoň měsíčně.

There are several advantages to maintain the entry fund. The account provides money that can be used to purchase costs for free consumption of props, get the order number and wait for the company control to cover the purchase. AcrossIncrease, if a small company immediately needs a tape of the printer, this item can be purchased from Petty Cash found in the fund, the transaction will be recorded, then it will be possible to submit a refund via the usual shopping channels, ensuring that the fund receives more money that can later be used for further purchase.