Quick Steps: Reconcile a Petty Cash Fund
Who does this? Stanford Petty Cash Custodians
When? Prior to submitting replenishment requests, which should occur 2-3 times per month
How? By ensuring that the amount of cash on hand, plus amount of reimbursements made (receipts), plus replenishment requests in process equals original amount of petty cash fund
Reconcile a Petty Cash Fund (6 steps)
Count cash in petty cash lock box.
Total receipts (amounts on Received of Petty Cash Forms, representing cash reimbursement paid out of petty cash fund).
Total any un-cashed petty cash reimbursement checks.
Total any replenishment requests submitted in iOU Petty Cash module for which a check has not yet been received.
Add the totals from steps 1-4. Amount totaled should equal amount of original petty cash fund.
If you have more or less cash than you should have to balance the fund, contact the Customer Outreach Group in the Disbursements Office for assistance.
What happens next?
- See Quick Steps: Replenish Petty Cash [link] .