Overview: Administering a Petty Cash Fund

Petty cash funds enable departments to reimburse employees for minor business expenditures up to $150.00. The Department Head identifies an individual to act as Petty Cash Custodian. The Petty Cash Custodian is responsible for administering the Petty Cash Fund.

Learn how to:  get started as a new custodian, and perform custodial duties

For:  Department Heads and Petty Cash Custodians

Designated Custodian

• Get Certified as a Petty Cash Custodian
• Get Access to iOU Petty Cash Module [link] (in order to replenish the petty cash fund)
• Receive Initial Petty Cash Fund / Set-up Petty Cash Fund

Certified Petty Cash Custodian

In the course of administering the Petty Cash Fund, the custodian is responsible for the following tasks:

• Reimburse an Employee with Petty Cash
• Reconcile Petty Cash Fund
• Replenish Petty Cash

Certified Petty Cash Custodian or Department Head

• Make Changes to Petty Cash Fund
• Report a Petty Cash Theft
• Close a Petty Cash Fund