Processing Petty Cash Expenditure

The nominals and ledgers in this topic may be different to those in your chart of accounts.

Petty Cash is a small amount of cash that is on hand to pay for small amounts owed.

Some examples of occasions when you might use petty cash are:

• posting an important business letter and need to buy a stamp.

• reimbursing an employee for buying food or drink for the company.

• covering travel costs for an employee who is going away on a business trip.

When you use petty cash to pay for an item, cover costs, or reimburse an employee, you need to record the transaction in IRIS Financials using a document input form. The expense can then be reconciled or included in expenditure reporting in future.

This topic assumes you are familiar with selecting and completing document input forms. For more information, please see Completing Document Input Forms.

1. Select Documents, then select Document Input from the menu.
   

2. The Document Input dialog is displayed. Select Drill (...) in Document type, then double-select to select PCSH - Petty Cash Expenses from the Select a document type dialog.
   

3. The Petty Cash Expenditure input form is automatically selected in Input form. The Number is automatically populated with the next available number for the document type.

4. The Date and Period default to today's date and the current accounting period. The date must be the date the payment was made and the period must be the accounting period in which the payment took place occurred. If required, to change the date select the drop-down arrow in Date and select the date from the calendar, and to change the period, select Drill (...) in Period, then double-select to select the required period from the Select a period dialog.
   

5. Select OK to confirm your selections.

6. The Petty Cash Expenditure document input form is displayed populated with the details from the Document Input dialog.
   

7. Double-select in Petty Cash Tin, then double-select to select the required petty cash tin.
   

8. The Document Date defaults to the date set in the Document Input dialog. The date must match the date the payment was made. To change the date, select the drop-down arrow, then select the required date from the calendar.
   

9. Enter the total value of the payment in Total Expense Amount, e.g. 5.00 (do not enter any currency symbols i.e. £, $, etc.)

10. Enter a description to help identify the payment in Expense Ref, for example, Stamps.

11. Next, complete the details of the item(s) that made up the payment. Double-select in Nominal, then double-select to select the nominal to which the payment needs to be recorded from the Select a nominal dialog.
    

12. Double-select in Account, then double-select to select the required account .
    

13. Enter the value of the item in Gross Value, e.g. 5.00 (do not enter any currency symbols, i.e. £, $, etc.)
    

14. To select the correct VAT rate for the payment, double-select in VAT Rate, then double-select to select the required VAT rate from the Select VATRATES key dialog. The VAT £ and Net Value are automatically populated.
    

15. Enter a description to help identify the item in Description, e.g. First Class Stamps.

16. When you have entered all the payment details, press F5 or select POST.
    

17. A blank document is displayed, with the posted document displayed as a link in the Documents Posted panel. Select the document link to display the transactions in a Document Enquiry window.