POLICY AND PROCEDURE MANUAL

SOP NO:
ACCTG CASH002 11-15
DEPARTMENT: ACCOUNTING
SUBJECT:
PETTY CASH
2015

SUB-SECTION: CASH
ISSUE DATE: NOVEMBER 30,

POLICY: Petty Cash transactions should be restricted to disbursements of a non-occurring

nature and or which must be paid immediately and for which payments by check is not
practical. It should be limited to a reasonable amount, not to exceed $250.
PROCEDURE:
1. To the extent possible, petty cash disbursements should be made only by the General
Cashier. In the event that another cashier, outside of the General Cashier, disburses
Petty Cash, it should be presented to the General Cashier in a timely manner, no later
than 3 days.
2. All petty cash disbursements are to be supported by a properly prepared Petty Cash
Slip, which must be written in ink and approved by the responsible department head
authorizing the expenditure. A valid original, itemized receipt must be attached to the
Petty Cash Slip. Lack of receipt will be considered a shortage.
3. Petty Cash may not be used for the following expenses: Payroll, Bonus, Cash Advances,
Travel and Entertainment, or any other item typically reimbursable via expense report.
4. The General Cashier, upon reimbursement of Petty Cash, should cancel the slip and
receipt to prevent reuse.
5. No less than once per week, the General Cashier will submit a request for
reimbursement of petty cash in accordance with the Invoice Processing policy. The
Controller and General Manager must verify that the requested amount balances to the
total petty cash disbursements and cancelled petty cash vouchers and receipts. The
review must be evidenced by signature, and dated on the reimbursement date.
6. Petty Cash reimbursement requests should not span multiple months. If a PCR has
receipts from more than one month, a separate request should be completed for each
month. Petty Cash should be recorded in the month, for the month, or accrued as such
for end of month.
7. The Petty Cash reimbursement check will be cut via Managers Check and made payable
to the Hotel, not the employee.
8. The Property Accountant will email a copy of the PCR Managers Check, Petty Cash
Reimbursement Cover Sheet, and all supporting documentation to the Corporate
Accountant the day the petty cash is reimbursed. Failure to do so, may result in the
check being returned (dishonored) by the bank.

December 2, 2015

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