Petty cash

Petty cash transactions/claims

The petty cash voucher is completed by the requestor and must contain:

• Date and $ amount;
• Description of goods/services & reason;
• Charge code (if known);
• Name, ANU ID and signature of person requesting the reimbursement; and
• be supported by a receipt or other document validating the nature and value of expenditure.

Petty cash amounts greater than $75 (GST inclusive) should be processed as a reimbursement via the ES Financials system (payment is deposited to ANU salary bank account next business day after voucher is approved).

Cash (in advance) is a last resort.

• Initial petty cash voucher is to be signed for (by the recipient with estimated amount);
• Upon purchase, recipient is to provide an updated petty cash voucher (with supporting documentation as above);
• Petty cash officer undertakes the necessary adjustments (either accepting a refund from the recipient or payment of additional monies).

FBT May Apply - refer to F&BS Fringe benefits tax page.

Petty cash float replenishment

Reconciliation must be done at least once every 4 weeks and is done by the nominated petty cash officer and independently verified by a separate officer.

Reconciliation is total disbursements + cash on hand = total Petty Cash float/advance

The petty cash voucher is raised in ES Financials using natural account code '1050' and is paid against the appropriate petty cash vendor. The value of the claim should = the value of the vouchers on hand as per the reconciliation. The relevant pages of the petty cash register and the vouchers (in an attached envelope) provide the supporting accounts payable documentation.

The voucher should have a handling code of "CA' - for cash pickup at the National Agency on Campus.

Voucher must be approved by the appropriate delegate.

Reducing/closing a petty cash float

1. Reconcile as above.
2. Notify Manager, Business Services of the changed Float Amount or closure.
3. Arrange for excess funds to be deposited, into ANU Bank account via ANU receipting system and Express Deposit Bag procedures.
4. Create a zero/adjustment accounts payable voucher, clearing the expenses against the Petty Cash Advance account.

Petty cash custodian responsibilities

The petty cash custodian must manage the overall security and safe custody of the petty cash entrusted to them by ensuring that:

• cash is kept in a locked tin (preferably in a locked draft/filing cabinet during the day)
• petty cash vouchers and register of petty cash payments are kept with the petty cash;
• cash tins are kept out of sight;
• cash tin keys remain in the possession of the custodian;
• outside of normal business hours the cash tin is kept in a safe or secure cabinet;
• cupboard/filling cabinet keys are kept in the possession of the custodian; and or
• The safe combination is managed in a safe and secure manner.

In the event of theft or material deficiency of the petty cash, please notify the Manager, Business Services, F&BS

Petty cash collection officers

Each 'float' must have at least one collection officer identified via the petty cash authorisation form and any changes (additions/deletions/amendments) must be submitted using the form.

Petty cash collection officers must show photo ID, at time of collection at the Service One Members Banking, the branch address is:

SERVICE ONE Canberra City1 - 3 Rimmer Street (ground floor, Lena Karmel Lodge) CANBERRA, ACT 2601 

Financial Operations must

• Maintain a register of petty cash collection officers (as nominated by the budget units);
• Provide an updated list of petty cash collection officers to the Service One Members Banking.

Tips for effective processing and management of your petty cash floats

1. Keep a petty cash register in excel (hard copy to stay with petty cash tin).
2. Ensure the information collected in the register supports the easy reconciliation of the petty cash float.
3. Reconcile and replenish at least every financial period (if float greater than $200, do it every 2 weeks).
4. Consolidate transactions with the same charge code to reduce voucher lines (AP voucher supporting documentation can be the petty cash spreadsheet (with vouchers attached in an envelope).
5. Consider consolidating all petty cash expenditure to the one generic charge code.
6. Keep transactions to $75 (GST inclusive) so that GST can be claimed on total float (even when full tax invoices are not available).