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Once you have issued your petty cash fund to your custodian. You can start recording petty cash expenses
Steps in Recording a Petty Cash Expense #
- This is similar to recording expenses. Simply select the appropriate vendor for the expense.
- Then follow the procedure in issuing payments per invoice
- But instead of using a cash in bank account for your payment account, select your petty cash fund account to reduce the petty cash fund.
Petty Cash Fund Payment Account
