Petty Cash

Petty cash or a petty cash fund is a small amount of money available for paying small expenses without writing a check. Petty Cash is also the title of the general ledger current asset account that reports the amount of the company's petty cash. The amount of petty cash will vary by company.

The petty cash is controlled through the use of a petty cash voucher for each payment made. The expenses will be recorded in the company's general ledger expense accounts when the petty cash on hand is replenished.