Accounting Information, Accounting Basics, Business Accounting

4 Responses to “What Is The Accounting Treatment If The Expenses To Be Replenish Is Higher Than The Petty Cash Fund Stablish?”

1. Safety 1st Strollers
   June 24th, 2009 at 10:16 pm

   can’t be possible. If you start with $100 in petty cash fund, but you have $90 in receipts, but all the cah is gone..then you are missin a receipt and someone either stole the money or forgot to get a receipt so you can just likely call it a $10 miscellaneous expense to even it out to the $100 petty cash fund.
   If you started with a fund of $100 and have $110 in receipts
   then then the petty cash fund needs to be increased to $110
   first..and then the $110 in expenses are written off.

2. Ed
   June 25th, 2009 at 4:45 am

   All accounting is a logical flow of funds.
   If the petty cash fund is $200, and the petty cash vouchers equals $250, then petty cash owes someone $50.
   You cannot have negative cash, it is physically impossible.
   Someone took cash out of their own pocket, and put a voucher in the petty cash boxes with the intention of being repaid.
   petty cash $200
   bank $200
   to set up petty cash
   expenses $250
   petty cash $200
   due to ??? $50
   to record vouchers
   petty cash $200
   bank $200
   to replenish fund

3. Angelique L
   June 25th, 2009 at 11:17 am

   THEN YOU HAVE A CASH OVER AND SHORT
   THE ENTRY SHOULD LOOK LIKE THIS:
   LIST ALL EXPENSES AND THERE PRICES(DEBITS)
   CREDIT CASH OVER AND SHORT
   CREDIT CASH

4. joeybo
   June 25th, 2009 at 11:59 am

   then it shouldt be taken out of petty cash it should be payed from accounts payable