Quick Steps: Set Up New Petty Cash Fund

Who does this?  Certified Petty Cash Custodians

When?  Once a designated custodian has been certified and Cash Management has approved a request from a department head for a new or increased petty cash fund

How?  By completing Petty Cash training and passing associated certification tests

 

Set Up New Petty Cash Fund (4 steps)

step 1

Receive a check for the petty cash fund amount from the Disbursements Department:

Note:  The check will be delivered to Petty Cash Custodian's ID Mail address.
step 2

Purchase needed supplies:

  1. Received of Petty Cash Forms


    2. Note:  Received of Petty Cash Forms can be ordered from Corporate Express via iProcurement CWA online catalog, item # 30080. [link]?

  2. Lock box


    3. Note:  Lock boxes can be purchased at the Stanford Book Store, or through Corporate Express via the on-line catalog [link]?
step 3

Secure petty cash funds:

  1. Cash check from Disbursements at a bank.;


    2. Note 1:  Preferred bank is Stanford Federal Credit Union, located at Tressider Union. [link]?
    Note 2:  You may use the Petty Cash Bank Replenishment Template [link] to instruct the bank on how you would like the cash (amount of specific currency and coins).

  2. Place petty cash funds in lock box.
  3. Store lock box in locked desk or cabinet.
step 4

Create filing and recording system for petty cash transactions:

  1. Each department creates a system for logging reimbursements made to employees and retaining all documentation.
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What happens next?

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