Accounts Payable Petty Cash

Petty Cash

What are Petty Cash Funds?

Petty Cash Funds are revolving accounts which are used to make miscellaneous small or emergency purchases. Petty Cash Funds are supported by accounts in programs 01-10 and 15 and above.

Who may request Petty Cash Funds?

Administrative units which make frequent purchases in circumstances which do not permit usual WSU purchasing procedures may request the Controller’s approval for a Petty Cash Fund. See SAAM 85.50.70.

Standard Procedures for Petty Cash Funds

  • The Department Chair or equivalent administrator designates a fund custodian who is responsible for maintaining the petty cash fund.
  • Initiate a requesting memorandum to the Controller at least ten days before the fund or additional money is needed, see BPPM 30.50.
  • Only appropriate and legitimate University expenses are paid from a petty cash fund.Do not use Petty Cash Funds to pay for the following types of purchases:
    • Travel expenses
    • Personal items
    • Entertainment expenses
    • Payment for personal services or honorariums
    • Payment of WSU employees for services rendered
  • The fund custodian maintains a current record of the fund’s financial status.
  • Replenish Petty Cash Funds at least monthly.

Replenishing Petty Cash Funds

  • Complete a State of Washington Invoice Voucher summarizing all expenditure receipts.
      • Indicate the fund custodian’s name and campus mailing address under “Vendor or Claimant.”
      • Type “To reimburse petty cash fund per attached receipts” under DESCRIPTION.
      • The fund custodian’s supervisor or the Department Chair signs the signature block under “Authorized Signature”.

     

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