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Standing Operating Procedure On Petty Cash

The document outlines the standing operating procedure for petty cash at Premier Hospital. It aims to streamline all day-to-day cash transactions. The procedure applies to all employees receiving or depositing cash. The accounts officer is responsible for managing petty cash, which is used to disburse cash advances up to specified limits to various departments. Recipients must provide receipts and settle advances before final paychecks are issued.

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Kamalakar Karamcheti
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265 views2 pages

Standing Operating Procedure On Petty Cash

The document outlines the standing operating procedure for petty cash at Premier Hospital. It aims to streamline all day-to-day cash transactions. The procedure applies to all employees receiving or depositing cash. The accounts officer is responsible for managing petty cash, which is used to disburse cash advances up to specified limits to various departments. Recipients must provide receipts and settle advances before final paychecks are issued.

Uploaded by

Kamalakar Karamcheti
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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STANDING OPERATING PROCEDURE ON PETTY CASH

1.AIM : The aim of this procedure is to streamline all the day to day cash transactions in Premier Hospital. 2.SCOPE: 3.Applicable : This procedure is applicable to all the employees of the hospital who are receiving cash for purchases, expenditure etc., or depositing cash after the transaction is over. 4.Responsibility : The Accounts officer or a responsible employee of the Accounts department , authorized by him . 5.Procedure : 5.1 An amount of Rs .. will be set aside as an initial amount of Petty cash. 5.2 Cash will be disbursed to the recipient after verifying the cash debit voucher duly approved by the concerned authority. 5.3 A cash advance register will be centrally maintained by the Accounts department wherein the request for advance of cash with reason and the necessary recommendation and approval by appropriate authority are entered. 5.4 The cash limits for sanction by respective departmental heads are as given below. a) Deptt I/C Upto Rs. b) COO c) CEO d) Executive Director e) Managing Director 5.5 The recipient of cash is accountable for refund of balance amount after expenditure. 5.6 All the advances should be accounted for with proper bills from an approved vendor. 5.7 Department Heads are accountable for any monies given to them by members of their departments. All receipts must be settled by the person to whom the original advance was given. 5.8 All advances must be cleared before your final paycheck is released. Uncleared advances will be deducted from the final paycheck. 5.9 Reimbursement for cell phone usage cannot be done through Petty Cash. For reimbursement of cell phone charges, submit a check request with the original copy of your phone bill attached (retain the cover page for payment and make a copy for your records). 5.10 Services rendered are compensated through payroll only. They are not to be paid for with Petty Cash.

5.11 : Manage petty cash/Reimburse purchases Keep petty cash funds in a cash box locked in a secure area, and never leave the funds in an unlocked desk drawer or cabinet. Record all petty cash reimbursements and collect receipts for those reimbursements. Ensure that each receipt has the business purpose noted. File the original receipt and petty cash transmittal awaiting reimbursement. Complete reconciliations monthly and each time the fund is replenished. Submit the Premier Hospital Petty Cash voucher to Accts to request reimbursement. Attach original receipts with the request. Report overages or shortages to your deptt I/C, and adjust funds accordingly. Submit reconcilements to the Dept. i/c other designee for his/her review and approval. Receive and cash check to replenish petty cash.

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