- 1st take some money, eg £20.00, out of the till and put it in to a small box. This is your petty cash box.
- Putting money in Petty Cash Box from till.
- Click on Petty Cash on main screen (you may need to put the till password in) and then
- Click on T (for todays date) and then choose staff name.
- Type “From Till” as the reason
- Leave VAT as £0.00
- Type £20.00 (or the amount you are putting in) in the Amount box
- Type ref as 0
- If you need to spend some money eg £0.59 for milk
- Click on T (for todays date) and then choose staff name.
- Type “Milk” as the reason
- Leave VAT as £0.00
- Type -£0.59 (MINUS 59p) in the Amount box
- Ref should automatically be 1 and then go up each time you spend money.
- Write the ref number on the receipt.
- Put the receipts in a safe place all together. We keep ours in the petty cash box with the petty cash money.
- Whenever the petty cash amount is low you can top it up by taking another £20.00 out of the till and follow instruction number 2 above.
- The banking report will show you how much petty cash you have taken out of the till in the bottom left corner. When you bank your money take this amount off sight tests.
So if your banking sheet says:
Exams £50
Specs £325
CLs £125
Others £45
Total £545
Petty Cash £20 (ignore the petty cash value that you spent eg £0.59 for milk)
Then you put it through your cashbook as
Exams £30
Specs £325
CLs £125
Others £45
Total £525
At the end of the year you can print of the petty cash from the banking screen to give to the accountant.