The Petty Cash "Life Cycle"

Petty Cash is managed through the creation of Petty Cash Purchase Orders.  The full 'life cycle' consists of the following steps:

• Create one or more Petty Cash Purchase Orders.
• Fund a Petty Cash Purchase Order through an initial "Petty Cash Check"
  • Pay this check to enable Petty Cash operation.
• During the year:
  • Enter receipts against the Petty Cash Purchase Order.
  • When funds get low, generate a Replenishment Check to process the unpaid receipts and "refill" the Petty Cash Purchase Order - Generate processing transactions.
• At Year End:  Close out the Petty Cash Purchase Order - Account for all receipts.