Petty Cash Management

Effective internal controls for small cash expenditures

The use of petty cash for small expenditures, while convenient, can result in mismanaged accounts, employee fraud and outright theft. Purchases made with petty cash are very difficult to track and the reimbursement process can be frustrating.

Flexible Setup and Configuration

System-wide settings with Facility-level, Employee-Level, and Client-Level overrides

  • Unlimited Cash Boxes
  • Rules for Audit Requirements on Opening / Closing Cash Box
  • User Security Roles for each type of Cash Box Activity
  • Rules for Replenishment Thresholds
  • Rules for Receipt Requirements
  • Audit and Reconciliation Automated Scheduling and Notification (Due, Past Due, etc.)
  • Employees:
    • Pre-Approvals Required
    • Payroll Draws Allowed
    • Receipts Required
    • Withdraw Limits (Daily, Weekly, etc.)
  • Clients (when used with PCB Client Cash Management):
    • Pre-Approvals Required
    • Allowed to Keep Change
    • Group Outings
    • Withdraw Limits (Daily, Weekly, etc.)

Comprehensive Transaction Processing

Transactions are indirectly tied to Cash Accounts (via Replenishment) so Bank Account Reconciliation is not overburdened with Petty Cash detailed activity.  Cash Box transactions include:

  • Employee withdrawals, payroll draws, change returned, approver tracking, and receipt tracking
  • Client withdrawals, Client Group Outings, change kept or returned, approver tracking, witness tracking, and receipt tracking. A report may be printed and signed for missing Receipts.
  • Audit and Adjustment – Blind Staff Audit or Management Audit with Adjustment capability
  • Detailed Reconciliation – based on Receipt Requirement Rules
  • Replenishment – Scheduled based on Rules or Ad-Hoc as needed

Reporting

The system comes with a fully-functional Report Writer module plus a Generic Inquiry tool.  It also comes with multiple Pre-Built Reports and Inquiries, including:

  • Petty Cash Ledger by Employee – For a specified date range, shows the withdrawal totals for the selected employee, along with the details of each withdrawal.
  • Petty Cash Ledger by Client – For a specified date range, shows the withdrawal totals for the selected client, along with the details of each withdrawal.
  • Cash Box Reconciliation – For a selected Reconciliation ID, the report shows the Cash Box totals, and receipt details, as processed during the selected reconciliation process.
  • Cash Box Summary – This inquiry displays the current totals for each cash box.
  • Cash Box Detail – For a selected Cash Box and specified date range, shows all activity details (withdrawals, replenishments, and adjustments.)
  • Cash Box Audit – For a selected Cash Box, shows the audit details (employee, date, amount, purpose, receipt status, etc.)