1)A sales employee requires 1,000 RWF for a moto to a potential client meeting

2)The employee approaches the accountant responsible for the petty cash fund and requests 1,000 RWF

3)The accountant asks the sales employee to fill out a petty cash voucher. The voucher includes a reason for the requests and the amount requested

4)Depending on the accountant’s approval limits, he/she will approve or he/she will have the voucher approved by his/her superior

Qs: Can someone walk us through the petty cash process? We discussed the details yesterday.

5)Once approved, the accountant disburses the cash to the sales employee

6)The sales employee returns with a receipt to support the transaction (if possible – in this case a moto would not provide a receipt) and any excess petty cash that was not used

7)The petty cash tracker and vouchers are provided to the individual responsible for entering the transactions into the general ledger

8)Periodically, the petty cash balance is counted and compared to the general ledger to ensure that it reconciles

Now we’ll go into more specifics on petty cash controls