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What does it mean to replenish the petty cash fund?

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Question added by Rana Alnajjar , Web developer , Lebcards
Date Posted: 2016/12/11
Ahmed Mostafa
by Ahmed Mostafa , Manager, Forensics , KPMG ME

Its to refund the imprest to return it back to the determined  balance border

Abdullah Aziz Eldain Morsi  Elgendy -        CMA  Candidate
by Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate , Regional Receivable Accountant , Amiantit Group of Companies

 suppose  you are  responsible for   a task  , the  company  delivered to  you 300  as  promise and you spent  for this task  220, the  remain cash  80 ,  the task still going on so  the company has to  (retuned back to   you the spent money to  continue the work  that means  money replenishment    

Wilfredo Quito
by Wilfredo Quito , Accounting Manager , DDC LAND INC.

 

Replenishing the petty cash fund means the petty cash custodian requests and receives cash from the company's regular checking account in order to have the cash on hand equal to the amount reported in the general ledger account, Petty Cash.

 

Soliman Abd  ALmalak Gendy
by Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

The petty cash custodian refills the petty cash drawer or box,which should contain the original amount of cash that was designa tedious for the fund

Anil Lalwani
by Anil Lalwani , Chief Accountant , Al Ahli Hospital

Its an addition from main cash to petty cash fund which is about to get exhausted.

Majid Wangade
by Majid Wangade , Senior Accountant , KANTOUR LIMITED COMPANY ( Real Estate, Construction and Asset Management )

Clearing the Petty Cash received against the Petty Cash Payments and to receive the Petty Cash Payment to equal the PC fund.

manseer muhammed ali
by manseer muhammed ali , Accountant General , Royal Lighting L.L.C & Royal Furnishing LLC

Replenishing the petty cash fund means the petty cash custodian requests and receives cash from the company's regular checking account in order to have the cash on hand equal to the amount reported in the general ledger account, Petty Cash.

Eg : Let's assume that Company X has a petty cash fund of $100 and Mary is the company's employee responsible for handling the petty cash transactions. At all times Mary should have $100 in some combination of cash and petty cash vouchers (receipts). Let's assume that Mary has $20.00 in cash and she has petty cash vouchers of $79.70. She knows that $20.00 is too little cash to have on hand. As a result she will request that a check be written from the company's regular checking account in the amount of $80 ($100.00 that is reported in the Petty Cash account minus the $20.00 that is actually on hand.) The replenishment means the cash in the custodian's possession will be returned to $100, even if the vouchers do not equal the amount needed ($80 in this example). The small difference will be expensed along with the amounts shown in the vouchers.

FITAH MOHAMED
by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

I agree with all previous answers.

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