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Make managing holiday leave as easy as having one - 
 Holiday leave can cause huge stress in an office - from planning leave to avoiding clashes, to finding the right type of cover when key employees are away from the office. Discover how to take the pain out of the entire process.
Petty cash confusion?

Most people will be familiar with the pitfalls of the badly run petty cash system. At worst people are dipping in when they need some money quickly, leaving - if you're lucky - an IOU. Most often there's confusion around its purpose, with many employees thinking it's a box for paying in as well as taking out.

The Solution

The solution is a well organised, tightly run petty cash system, where everybody knows the system and how it works. Here are a few quick pointers on what makes a good petty cash system:

  • Keep the level of money as low as possible
    The sum should have been decided by those in authority on a rational basis, based on things like level of usage. No matter how small the amount, it should always be insured in case the worst happens.
  • Separate funds
    Your system should be run strictly on a 'petty' basis, being used only for small emergency expenses 'as and when'. Major things such as wages and even regular expenses like travel must be kept separate and documented in an expenses sheet
  • Imprest system
    The ideal petty cash system is run on the Imprest System principles, based round a float of a certain amount, say £100. This system, involving petty cash vouchers being made out for each cash amount given out, and that being replaced by a receipt for the item when it is bought. This gives the clearest and tightest control, since cash + vouchers + receipts will at any time add up to that £100 value
  • Strict security
    Responsibility for petty cas should be carefully allocated. It should be one person, who keeps the box locked away in a generally undisclosed location, and holds the keys. He or she should rigorously enforce the agreed system - of vouchers and receipts - and keep a record of each transaction with a petty cash spreadsheet
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