To Define the proper use of Petty Cash voucher
Petty cash is a small amount of money, disbursed for expenses when it is not practical to pay by bank transfer. Every hotel needs to define the limit that they would like to set, however, most hotels set the limit at Rs. 5000 and below. Follow the petty cash procedure in your hotel
- The use of petty cash has to be restricted and limited to small emergency purchase only.
- The purchase made out of pocket cash needs to be reimbursed by filling out the expense report.
- Petty cash vouchers need to have supporting vouchers
- The petty cash voucher must have the approval of the department head and the financial controller.
- If the amount paid exceeds the limit set by the hotel, the general manager must approve the payment
- In case of an emergency during the night, the Manager on Duty can authorise the petty cash payment
- Receipts must be attached to the petty cash voucher while settling the same.
- The petty cash voucher must have complete description of the purchase.
- Petty cash voucher must be reimbursed during the allotted time from the general cashier
- Front office and Fnb service float must not be used to settle the voucher
- All Petty cash voucher must be closed within 48 hours.
- The approving and receiving signature cannot be of the same person
If there is a shortage in the person must follow the petty cash procedure described in the policy and correct the shortage within 48 hours