Petty Cash

This account reconciliation is an Asset account type and a List reconciliation type. This type of reconciliation allows you to make a list of the amounts that make up the account balance.

The detailed information is input by clicking in the Reconciling Items area and then selecting New.

The reconciliation has been Prepared, Approved and Reviewed as noted by the appropriate staff members. Here is the detail of the Mary Martin petty cash item shown above.

This item has an Open Date of 6/30/2007, and the Close Date is blank. When the reconciliation is opened to perform the 1/31/2011 reconciliation, this item will appear. The petty cash was given to Mary Martin in June 2007 and she still is the custodian of these funds. There is a supporting document attached which is the acknowledgement document Mary singed when she become the custodian of those petty cash funds.

Below is the final report that prints for this account when you click on the Print Report button.

As you can see from the descriptions, you have the ability to enter whatever information you want for each reconciling item. In this case, the description contains information specific to the completion of certain procedures - auditing the funds quarterly.

This particular account is reconciled with no Unidentified Difference.

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