petty cash

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:23AM in AAT student discussion
hellope<BR><BR>im a bit stuck with the petty cash book....i have totalled it as asked but im confused on how to restore the imprest amount..any advice would be of help as i just cant seem to grasp it with the text im given in the tutorial ive got..<BR><BR>top banana <BR><BR>rob

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    petty cash

    Hi there,<BR> <BR>I always teach our trainees that the petty cash book is a reflection of what money is in the petty cash tin, so for example if you start the month with £150 in the tin, there needs to be £150 in the tin at the beginning of the following month, so, if your invoices totalled £100, (£100 has been taken from the tin) then you need to replace that £100 to bring the cash back to £150. So in the book the imprest amount is £150 and the replacement is £100.<BR><BR>I hope this makes sense. Sarah
  • System
    System Posts: 100,534 🤖 Admin 🤖
    petty cash

    Using the imprest system for petty cash means that you should have the same amount in petty cash at the start of each month. <BR><BR>Example<BR>At the beginning of each month you should have £200 in petty cash. Then on the 2nd April £10 is spent on staff travel and then on the 15th April £150 is spent on staff accommodation. At the end of the month there should be £40 left in petty cash as you have £200-160 = £40. So if you have £40 left over at the end of the month then to bring the petty cash balance back up to £200 you will need to add another £160.<BR><BR>At work I have set up an imprest system for petty cash, so if you like I can e-mail you the spreadsheet I use to record the expenses etc. <BR><BR>Dawn<BR><BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    petty cash

    hi dawn<BR><BR>that would be fantastic if you could email me your petty cashset up...<BR>as im studyin from home i dont get no real life look at any accounting situations..<BR><BR>my address is:robhill666834704@aol.com<BR><BR>thanks a lot dawn<BR><BR>rob
  • System
    System Posts: 100,534 🤖 Admin 🤖
    petty cash

    Hi Rob,<BR><BR>I will e-mail it to you when I get home.<BR><BR>Dawn
  • System
    System Posts: 100,534 🤖 Admin 🤖
    hi

    hi dawn<BR><BR>menace here again...i dont seem to have recieved youre-mail yet..i dont think ive deleted it by mistake so if i can be a pain in the a*&! would you mind sendin it me again!!<BR><BR>thanks for your time..<BR><BR>rob
  • System
    System Posts: 100,534 🤖 Admin 🤖
    hi

    Hi Rob,<BR><BR>No worries I will e-mail it to you again when I get home.<BR><BR><BR>Dawn
  • System
    System Posts: 100,534 🤖 Admin 🤖
    cheers

    thanks dawn...have you got yourown business by the way?<BR>im lookin for some trainee work, paid or unpaid i dont mind and just wondered the best way of being able to get some...is it worth writing to companies to explain that i need some hands on experience or will they be reluctant to help??<BR><BR>bit of a longshot i think,but worth a try!!<BR><BR>rob
  • System
    System Posts: 100,534 🤖 Admin 🤖
    cheers

    Hi Rob,<BR><BR>Yes my partner and I have our own company which we set up the beginning of this year. My partner runs the company and I do the accounts. As the business has only just started I work full time for another company, but next summer once I have hopefully finished the AAT I will work full time with my partner.<BR><BR>Do you have any accounts experience and are you registered with any recruitment agencies?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    hello

    unfortunately i havent got any accounts experience..ive been doing some very basic work for a friend who has his own business.he has given me a great opurtunity to work for him when i have passed my foundation course, but as i am studying from home it would be great for me gain some experience somwhere. Ive been stuck in factories since i was 18 so i cant wait to get working in a different environment..<BR>im not signed with any agencies,,would this be a good idea??<BR><BR>life story or what!!<BR><BR>rob.

Categories

Privacy Policy