Petty cash is considered an asset, not an expense. It’s Element of the corporation’s present assets around the equilibrium sheet as it signifies cash available. Balancing the petty cash account normally occurs in the event the fund has to be replenished. The petty cash custodian provides all of the slips https://24-cash07211.tinyblogging.com/petty-cash-no-further-a-mystery-79571735