vouching of petty cash book
Answers
Answer:
Steps of vouching petty cash book.
1. Checking of amount drawn:
Checking the amount drawn for petty cash with reference to cash book or bank statement.
2. Casts and carry forward:
Check the cast, cross forwards of the petty cash book.
3. Check of vouchers:
Tests check the petty cash vouchers with the supporting evidence.
4. Signature:
It should be seen that the petty cash book has been signed by cashier at the end of the month.
5. Pasting:
Pasting should be checked in to the general ledger.
6. Suprise/physically counting:
A surprise count of the cash kept with the petty cashier is also suggested. At the end of financial closing the cash in hand must be physically counted.
7. Allocation:
Expenditure allocation should be properly verified.
8. Authorization of payment:
It should be seen that the payment vouchers are properly authorized.
Explanation:
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