Petty cash is a small amount of cash on hand that is used for making small payments owed, rather than writing a cheque or issuing a bank transfer.
Some examples for using petty cash include: paying for a moto, paying for car parking, or buying small goods at a local hardware store.
The amount in a petty cash fund will vary by organization. For some, 200,000 RWF is adequate. Others may require more.
When the cash in the petty cash fund is low, the employee responsible for petty cash will request funds to be withdrawn from the bank account to bring the petty cash fund back to its original balance.
Qs: Can someone remind us what petty cash is?
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Qs: And what are examples of when you would use petty cash?
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Qs: How much petty cash do you think you should keep on hand?
Ask for a number of answers from different students
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