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The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Petty cash dicrepancies
Post Info TOPIC: Petty cash dicrepancies
Alia


Veteran Member

Status: Offline
Posts: 39
Date:
Petty cash dicrepancies
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Hello,

I have a problem with Petty cash. cry

don't laugh!

I am doing bookkeeping for a customer. Patty cash is done by a staff member. There are serious discrepancies (even to a £100!) one way and the another. I've never had petty cash money in my hands so I don't know how much is actually in the box.

Owner seem pretty cool about mistakes and did not make fuss around that, but still I have to enter it to the system.

I guess I should correct errors on original entry according to the receipts as it goes ( there will be discrepancies with reimbursement cheques then) or .....confuse?

 

Any advices, please?

 

Thanks



__________________
Alia
Cheshire


Master Book-keeper

Status: Offline
Posts: 8646
Date:
Permalink Closed

Depending on which sage you have....some have a 'cash register' that has a discrepancies option, so use that. if not set up a nominal for it and post them to it - then show the owner who doesnt seem to care just how much he is losing!

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Alia


Veteran Member

Status: Offline
Posts: 39
Date:
Permalink Closed

I have posted to suspension for now... But I suppose separate ac would be better. I'll do the journal to transfer it.

 

Thank you for reply.

 

Best



__________________
Alia
Cheshire


Master Book-keeper

Status: Offline
Posts: 8646
Date:
Permalink Closed

Hi Alia
Just a thought - wonder if he takes cash out for personal use. Is it all round amounts?

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
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