Accounting glossary
What is petty cash?
A small cash float for small purchases — stamps, cleaning supplies, the emergency courier. Small does not mean untracked: a float, receipts for what left, and periodic top-ups that reconcile the difference.
Example
A $200 float covers small purchases. At top-up time the tin holds $46 in cash and $154 in receipts — together $200, which is the check.
The $154 is recorded as the expenses those receipts represent, and the float returns to exactly $200.
In SeroBooks
A petty cash account in the chart with entries like any other, reconciled on count. Petty cash guide →