FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH Petty Cash General Information

All businesses within Australia are required to bank their takings intact. If a bill needs to be paid, then a cheque is written, Credit card is used or there is a transfer or BPAY via the internet where a receipt is given.

However, for small amounts, such as a taxi fare, milk for morning tea, a cheque would not be written. A petty cash system would be set up.

The IMPREST SYSTEM has been in use for many years, where a small (or petty) amount is transferred from the bank account into another account for immediate use. The Imprest amount is an ASSET – something of value the business owns, as it has not been spent.

An imprest cheque is written for cash, a coinage analysis is also completed. The cash collected from the bank is placed in a locked drawer or tin. Only one person should have access to this money and be responsible for it – although a second person would be trained and used to audit or check the money.

Staff would need to be trained according to Company Policy Guidelines for use of Petty Cash. (see Petty Cash Guidelines p 4) Vouchers and a Petty Cash book need to be purchased or produced on the computer or a template setup in Excel.

Once this is in place, advances can be given to staff, so that they are able to purchase items necessary for the running of the business. Receipts (handwritten, Cash Register) must be produced before staff can finalise the advance or claim for items purchased.

In a large business (where Imprest cheque amounts would be over $3000.00) the petty cash book would be written up daily. Some smaller businesses write these up once a week or even monthly.

At any time the vouchers in the Petty Cash Tin and the cash must equal the imprest amount.

Faculty of Business and Computing Page 1 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH PETTY CASH PROCEDURE

1 Decide on the amount to be deposited in the Petty Cash Fund.

2 Complete a cheque requisition, then write cheque to open fund (Imprest cheque).

3 Prepare a cash analysis—change docket.

4 Go to bank and get the cash, place in secure, locked tin or drawer— enter this transaction in the Petty Cash Book.

5 Issue staff with memo re policies and procedures for using petty cash. Who will authorize the expenditure?

6 Cashier is now able to refund petty cash receipts (cash dockets required as proof of expenditure) or give an Advance for petty cash use.

7 Fill in Petty Cash Vouchers (watch the GST).

8 Write up the Petty Cash Book.

9 Balance when funds are low or at regular intervals, but always at end of month.

10 Complete a cheque requisition then write out the Reimbursement Cheque. Prepare a cash analysis—change docket. (If not using a cheque requisition, write dissection of funds on cheque butt.)

11 Go to bank and get the cash, count and place in secure, locked tin or drawer—enter in the Petty Cash Book.

Faculty of Business and Computing Page 2 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH Working Out The GST Component Within A Price (Tax inclusive)

If you sell an Item for $10 (GST EX) then add 10% GST = $11 (this is known as GST inclusive) If you divide $11 by 11 you get $1 which is the GST component. Now try these exercises.

Amount divided by 11 will give you the GST included in a price. Subtract to find the original cost of goods.

TOTAL PRICE GST /11 COST OF ITEM GST INCLUSIVE (divide by 11) 110.00 456.50 2 358.51 32 568.80 352.00 1 158.30 3256.00 6589.55 99.00 Adding GST to the Cost of Goods (Tax exclusive) To add GST- Amount x 10%, then add this to the original amount. 200 x 10% = $20 WRITE 20 IN THE GST COLUMN, then press +, if the $20 does not add on; press + then =

COST OF ITEM GST GST 10% TOTAL COST EXCLUSIVE 200.00 22 568.50 3 500.00 689.50 658.52 587.20 90.00 65.50 568.00

Faculty of Business and Computing Page 3 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Petty Cash Guidelines

Follow Company Procedures (from the Procedure Manual) for all Petty Cash Transactions.

Organisation procedures

 All claims must be work-related and approved by your current supervisor.  Claims must be made within 14 days of expenditure.  No expense claims of over $35.00 per day allowed. (This will vary with each company).  No staff meals or dry cleaning will be claimed.  Staff Amenities – coffee, tea, milk and biscuits are claimable.  Reimburse your funds at the end of each month and/or when funds are low.

PETTY CASH – CHEQUE REQUISITION

In large businesses, to make sure all cheques are accounted for and authorised – you would need to fill out a CHEQUE REQUISITION, attach the used vouchers to enable the accountant to check and prove the amounts. The accountant would then sign the REIMBURSED CHEQUE (or IMPREST or both).

CHEQUE REQUISITION PAYEE: DATE REQUIRED: Details of accounts and amounts to be Debited: Petty Cash Reimbursement Stationery Postage Travel Expenses Sundry Expenses Staff Amenities GST Paid Cheque No Issued: Cheque Total: Issued by: Requested by:

See next page for CHANGE DOCKETS to be used in the exercises.

Faculty of Business and Computing Page 4 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Petty Cash –Exercise 1

Dr K Robbins Organisation procedures

 All claims must be work-related and approved by your current supervisor.  Claims must be made within 14 days of expenditure.  No expense claims of over $35.00 per day allowed. (This will vary with each company).  No staff meals or dry cleaning will be claimed.  Staff Amenities – coffee, tea, milk and biscuits are claimable.  Reimburse your funds at the end of each month and/or when funds are low.

Task 1

Write out an imprest cheque, dated 1 October, for $100.00 and a change docket, then enter the value in the petty cash book.

Task 2

On the attached sheets, write out petty cash vouchers to match the receipts.

Task 3

From the petty cash vouchers complete the petty cash book for October.

Task 4

Balance the petty cash book on 25 October. Write out a reimbursement cheque and change docket, then enter the value in Petty Cash book.

Faculty of Business and Computing Page 5 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Cheque & Change Docket (for completing Task 1)

Date: WITCH BANK LIMITED TO: TORONTO NSW 2285 FOR: Date: FWD: 12000.00 PAY Or Bearer Deposit: 2400.00 Balance: THE SUM OF $ This Cheque: Balance: DR K ROBBINS ………………………….. ACN 123727758 ABN 12372775894 Drawer 000255 000255 365 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Faculty of Business and Computing Page 6 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Petty Cash Receipts and Vouchers (for completing Task 2)

PETTY CASH VOUCHER CRASH’EM TAXIS ABN 26 491 419 491 TAX INVOICE 20 No 34 Date: 7 Oct XX ……………… 20….. Received from Dr Robbins For Taxi Fare DEBIT ………………………………... Cash/Cheque $7.00 Particulars ……………………………. GST $0.70 ………………………………………… Total $7.70 Signed BW

Goods/Services $……….. GST $……….. Total $……….. Signed ……………...

PETTY CASH VOUCHER EXPRESS STATIONERY ABN 26 437 982 065 Tax Invoice 21 LEDGER BOOKS* 22.00 ……………… 20….. PENS* 4.84 PAPER* 3.96 DEBIT ………………………………... TOTAL 30.80 Particulars ……………………………. GST included in total 2.80 ………………………………………… Goods/Services $……….. *taxable items GST $……….. 08/10/200x Total $……….. Signed ……………... CASH TENDER 40.00 CHANGE 9.20

PETTY CASH VOUCHER AUSTRALIA POST ABN 39 876 434 001 15/10/200x 22 TAX INVOICE ……………… 20….. Parcel 5.50 TOTAL* 5.50 DEBIT ………………………………... *Total inclusive of GST Particulars ……………………………. ………………………………………… Goods/Services $……….. GST $……….. Total $……….. Signed ……………...

PETTY CASH VOUCHER ARCADE BAKERY ABN 45 679 038 955 Tax Invoice 11 23 No 32 Date: 21 October 200x ……………… 20….. Cake* $3.85 Faculty of Business and Computing Page 7 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

DEBIT ………………………………... TOTAL $3.85

Particulars ……………………………. GST included in total $0.35 ………………………………………… *taxable items

Goods/Services $…..…… GST $……….. Total $……….. Signed ……………...

PETTY CASH VOUCHER THE CORNER STORE ABN 43 259 803 267 Tax Invoice 24 COFFEE 6.00 ……………… 20….. BISCUITS* 2.75 MILK 2.50 DEBIT ………………………………... TOTAL 11.25 Particulars ……………………………. GST included in total 0.25 ………………………………………… Goods/Services $……..… CASH TENDER 13.00 CHANGE 1.75 GST $……….. Signed ……………... Total $……….. 25 October 200x *taxable items

PETTY CASH VOUCHER AUSTRALIA POST ABN 39 876 434 001 25/10/200x 25 TAX INVOICE ……………… 20….. Stamps 9.00 Parcel 2.55 DEBIT ………………………………... TOTAL* 11.55 Particulars ……………………………. ………………………………………… *Total inclusive of GST

Goods/Services $……..… GST $……….. Total $……….. Signed ……………...

Faculty of Business and Computing Page 8 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Cheque & Change Docket (for completing Task 4)

Date: WITCH BANK LIMITED TO: TORONTO NSW 2285 FOR: Date: FWD: PAY Or Bearer Deposit: Balance: THE SUM OF $ This Cheque: Balance: DR K ROBBINS ………………………….. ACN 123727758 ABN 12372775894 Drawer 000266 000266 365 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Faculty of Business and Computing Page 9 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH Petty Cash Book (for completing Task 1, 3, and 4) Petty Cash Book of Dr K Robbins Page No 1 Amount Date Details Ref Amount Paid Stationery Postage Travel Staff Sundry GST Paid Received No Amenities Expenses

Faculty of Business and Computing Page 10 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Petty Cash – Exercise 2

Cessnock Vineyards

Organisation procedures

 All claims must be work-related and approved by your current supervisor.  Claims must be made within 14 days of expenditure.  No expense claims of over $35.00 per day allowed. (This will vary with each company).  No staff meals or dry cleaning will be claimed.  Staff Amenities – coffee, tea, milk and biscuits are claimable.  Reimburse your funds at the end of each month and/or when funds are low.

Task 1

Write out an imprest cheque, dated 1 April, for $150.00 and change docket. Enter the value in the petty cash book.

Task 2

On the attached sheets, write out petty cash vouchers to match the receipts.

Task 3

Write up the petty cash book—balance Petty Cash book on 10 April.

Task 4

Write out a reimbursement cheque and change docket, then enter the value in the Petty Cash book.

Faculty of Business and Computing Page 11 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Cheque & Change Docket (for completing Task 1)

Date: WITCH BANK LIMITED TO: TORONTO NSW 2285 FOR: Date: FWD: 1520.00 PAY Or Bearer Deposit: 2525.00 Balance: THE SUM OF $ This Cheque: Balance: CESSNOCK VINEYARDS ………………………….. ACN 123727758 ABN 12372775894 Drawer 111555 111555 365 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Faculty of Business and Computing Page 12 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Petty Cash Receipts and Vouchers (for completing Task 2)

PETTY CASH VOUCHER Cessnock Taxis Tax Invoice No 098 ABN 32 876 432 001 36 Date: 2.4.XX ……………… 20….. Received from CESSNOCK V For …Cab Fare – S Shiraz DEBIT ………………………………... Cash/Cheque 18.50 Particulars ……………………………. GST $ 1.85 ………………………………………… Total $20.35 Signed ……AS……

Goods/Services $…..…… GST $……….. Signed Total $……….. …….………

PETTY CASH VOUCHER REGENCY STORES ABN 62 539 087 421 TAX INVOICE 37 Milk 2.75 ……………… 20….. Biscuits* 6.05 TOTAL 8.80 DEBIT ……………………………….. Particulars ……………………………. CASH TENDER 10.00 CHANGE 1.20 ………………………………………… Goods/Services $……….. GST included in price 0.55 GST $……….. *taxable items Total $……….. Signed ……………... 4/4/200x

PETTY CASH VOUCHER AUSTRALIA POST ABN 39 876 434 001 9/4/200x 38 TAX INVOICE ……………… 20….. Stamps 9.00 Parcel 4.75 DEBIT ……………………………….. TOTAL* 13.75 Particulars ……………………………. *Total inclusive of GST …………………………………………

Goods/Services $……..… GST $……….. Total $……….. Signed ……………...

PETTY CASH VOUCHER Cessnock Newsagency ABN 43 987 043 615 39 Pens* 7.26 ……………… 20….. A4 Paper* 7.70

Faculty of Business and Computing Page 13 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Paper Clips* 2.64 DEBIT ……………………………….. TOTAL 17.60 Particulars ……………………………. GST included in total 1.60 ………………………………………… Goods/Services $……….. CASH TENDER 20.00 CHANGE 2.40 GST $……….. 9 April 200x Signed ……………... Total $……….. *taxable items TAX INVOICE

PETTY CASH VOUCHER Hardware Haven 10/4/200x ABN 43 987 043 615 Tax Invoice 40 Dishwashing liquid* 1.98 ……………… 20….. Floor mop* 19.25 Sponges* 2.97 DEBIT ……………………………….. TOTAL 24.20 Particulars ……………………………. CASH TENDER 25.00 ………………………………………… CHANGE 0.80 Goods/Services $……….. GST included in total 2.20 GST $……….. *taxable items Total $……….. Signed ……………...

PETTY CASH VOUCHER Express Couriers Tax Invoice 397 ABN 39 406 237 911 41 10/4/200x ……………… 20….. Parcel 16.00 GST 1.60

DEBIT ……………………………….. TOTAL 17.60 Particulars ……………………………. …………………………………………

Goods/Services $……….. GST $……….. Total $……….. Signed ……………...

Faculty of Business and Computing Page 14 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Cheque & Change Docket (for completing Task 4)

Date: WITCH BANK LIMITED TO: TORONTO NSW 2285 FOR: Date: FWD: PAY Or Bearer Deposit: Balance: THE SUM OF $ This Cheque: Balance: CESSNOCK VINEYARDS ………………………….. ACN 123727758 ABN 12372775894 Drawer 111666 111666 365 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Faculty of Business and Computing Page 15 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH Petty Cash Book (for completing Task 1, 3, and 4) Petty Cash Book of Cessnock Vineyards Page No 1 Amount Date Details Ref Amount Paid Stationery Postage Travel Staff Sundry GST Paid Received No Amenities Expenses

Faculty of Business and Computing Page 16 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH Petty Cash –Exercise 3

Purrfect Pet Parlour

Organisation procedures  All claims must be work-related and approved by your current supervisor.  Claims must be made within 14 days of expenditure.  No expense claims of over $35.00 per day allowed. (This will vary with each company).  No staff meals or dry cleaning will be claimed.  Staff Amenities – coffee, tea, milk and biscuits are claimable.  Reimburse your funds at the end of each month and/or when funds are low.

Task 1

Prepare a cheque requisition for a Petty Cash imprest cheque of $75.00. Write out the imprest cheque dated 15 September and change docket, then enter the value in the petty cash book.

Task 2

On the attached sheets, check the claims for accuracy for 17-28 September. If there is any difference between the claim and the receipt, the receipt is taken as correct. Check the claims for authenticity according to the guidelines you have been given. Make your corrections on the Petty Cash voucher.

Task 3

From the petty cash vouchers complete the petty cash book for 17-28 September.

Task 4

Balance the petty cash book on 28 September. The company has decided to increase the petty cash imprest to $100.00. Prepare a cheque requisition for the reimbursement of the fund. Please include the increased amount of imprest. Write out a reimbursement cheque and change docket, then enter the value in the Petty Cash book.

Task 5

From the petty cash vouchers complete the petty cash book for 30 September-10 October. The vouchers DO NOT need correction.

Task 6

Balance the petty cash book on 10 October. . Prepare a cheque requisition for the reimbursement of the fund.

Write out a reimbursement cheque and change docket, then enter the value in the Petty Cash book.

Cheque Requisition, cheque & Change Docket (for completing Task 1 15th September)

Faculty of Business and Computing Page 17 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

CHEQUE REQUISITION PAYEE: DATE REQUIRED: Details of accounts and amounts to be Debited:

Cheque No Issued: Cheque Total: Issued by: Requested by:

Date: WITCH BANK LIMITED TO: GLENDALE NSW 2285 FOR: Date: FWD: 11 560.00 PAY Or Bearer Deposit: 1 260.50 Balance: THE SUM OF $ This Cheque: Balance: PURRFECT PET PARLOUR ………………………….. ACN 123727758 ABN 12372775894 Drawer 111555 111555 365 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Petty Cash Receipts and Vouchers (for completing Task 2)

Faculty of Business and Computing Page 18 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

PETTY CASH VOUCHER The Old Curiosity Shoppe 17/9/200x ABN 62 598 032 445 Tax Invoice 35 Birthday cake* 10.78 18 Sept 20….. Coffee plunger* 17.27

DEBIT Staff Amenities TOTAL 28.05 Particulars Cake, plunger GST included in total 2.55 ………………………………………… *taxable items Goods/Services $…25.50 CASH TENDER 40.00 CHANGE 11.95 GST $…2.55. Total $…28.05 Signed ……ty

PETTY CASH VOUCHER AUSTRALIA POST ABN 39 876 434 001 23/9/200x 36 TAX INVOICE 23 Sept 20….. Parcel 3.50 Stamps 0.90 DEBIT Postage TOTAL* 4.40 Particulars Parcel, Stamps *Total inclusive of GST …………………………………………

Goods/Services $ 4.00 GST $…0.40 Total $…4.40 Signed ……… ty

PETTY CASH VOUCHER Rent-a-Cab Tax Invoice N046 ABN 29 823 906 117 37 Date: 23/09/20… ……………… 20….. Received from K Katz For Cab Fare DEBIT ………………………………... Cash/Cheque $6.50 Particulars ……………………………. GST $ 0.65 ………………………………………… Total $7.15 Signed LL

Goods/Services $…..…… GST $……….. Signed Total $……….. …

Faculty of Business and Computing Page 19 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

PETTY CASH VOUCHER TED’S TAKEAWAY Tax Invoice ABN 62 498 765 330 26/9/200x 38 Milk 1.50 26/09/ 20….. Bread 1.80 TOTAL 3.30 DEBIT Staff Amenities GST included in total 0.00 Particulars Milk, Bread *taxable items AMOUNT TENDERED 5.00 CHANGE 1.70 Goods/Services $ 3.30 GST $……0.30 Total $……3.30 Signed … ty

PETTY CASH VOUCHER Jones’ Newsagency ABN 42 659 832 117 39 Card* 4.40 27/09/ 20….. Wrapping Paper* 4.95 TOTAL 9.35 DEBIT Staff Amenities GST included in total 0.85 Particulars Card, Wrapping Paper. *taxable items ………………………………………… Goods/Services $9.35 CASH TENDER 10.00 CHANGE 0.65 GST $…0.85 Total $…8.50 Signed …… ty 27/9/200x Tax Invoice

PETTY CASH VOUCHER Rent-a-Cab Tax Invoice N087 ABN 29 823 906 117 40 Date:28/09/20… ……………… 20….. Received from B Rabbitt For TAXI FARE DEBIT ………………………………... Cash/Cheque $18.00 Particulars ……………………………. GST $ 1.80 ………………………………………… Total $19.80 Signed PO

Goods/Services $…..…… GST $……….. Signed Total $……….. …

Faculty of Business and Computing Page 20 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH Cheque Requisition, cheque & Change Docket (for completing Task 4 28th September)

CHEQUE REQUISITION PAYEE: DATE REQUIRED: Details of accounts and amounts to be Debited: Petty Cash Reimbursement Stationery Postage Travel Expenses Sundry Expenses Staff Amenities GST Paid Cheque No Issued: Cheque Total: Issued by: Requested by:

Date: WITCH BANK LIMITED TO: GLENDALE NSW 2285 FOR: Date: FWD: PAY Or Bearer Deposit: Balance: THE SUM OF $ This Cheque: Balance: PURRFECT PET PARLOUR ………………………….. ACN 123727758 ABN 12372775894 Drawer 111666 111666 365 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Petty Vouchers – all correct (for completing Task 5)

Faculty of Business and Computing Page 21 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

PETTY CASH VOUCHER PETTY CASH VOUCHER 41 42 30/09/20 … 01/10/20….. DEBIT TRAVEL. DEBIT POSTAGE Particulars TAXI Particulars Stamps, Parcel Goods/Services $10.50 Goods/Services $26.00 GST $ 1.05 GST $ 2.60 Total $11.55 Total $28.60 Signed ……… ty Signed … ty

PETTY CASH VOUCHER PETTY CASH VOUCHER 43 44 3 October 20…. 3/10/20… DEBIT STATIONERY DEBIT STAFF AMENITIES Particulars Pens, A4 paper, coloured Particulars Biscuits, Tea & Coffee paper Goods/Services $15.50 Goods/Services $19.60 GST $1.55 Signed …… ty GST $ 0.40 Total $17.05 Total $20.00 Signed …… ty

PETTY CASH VOUCHER PETTY CASH VOUCHER 45 46 6 October 20 . … 10/10/20…. DEBIT SUNDRY EXPENSES DEBIT TRAVEL Particulars Disinfectant, Sponges Particulars Bus Fare for Banking Goods/Services $4.50 Goods/Services $1.50 GST $ 0.45 GST $ 0.15 Total $4.95 Total $1.65 Signed ……… ty Signed … ty

PETTY CASH VOUCHER PETTY CASH VOUCHER 47 48 10/10/20… 10 October 20….. DEBIT POSTAGE DEBIT SUNDRY EXPENSES Particulars Stamps Particulars Light Globes Goods/Services $1.00 Goods/Services $2.50 GST $0.10 GST $ 0.25 Total $1.10 Total $2.75 Signed ……… ty Signed ……… ty Cheque Requisition, cheque & Change Docket (for completing Task 6 10th October)

CHEQUE REQUISITION PAYEE: DATE REQUIRED:

Faculty of Business and Computing Page 22 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Details of accounts and amounts to be Debited: Petty Cash Reimbursement Stationery Postage Travel Expenses Sundry Expenses Staff Amenities GST Paid Cheque No Issued: Cheque Total: Issued by: Requested by:

Date: WITCH BANK LIMITED TO: GLENDALE NSW 2285 FOR: Date: FWD: PAY Or Bearer Deposit: Balance: THE SUM OF $ This Cheque: Balance: PURRFECT PET PARLOUR ………………………….. ACN 123727758 ABN 12372775894 Drawer 111777 111777 365 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Faculty of Business and Computing Page 23 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Petty Cash Book (for completing Task 1,3,4,5 and 6) Petty Cash Book of Purrfect Pet Parlour Page No 1 Amount Date Details Ref Amount Paid Stationery Postage Travel Staff Sundry GST Paid Received No Amenities Expenses

Petty Cash Book of Purrfect Pet Parlour Page No 2

Amount Date Details Ref Amount Paid Stationery Postage Travel Staff Sundry GST Paid Received No Amenities Expenses

Faculty of Business and Computing Page 24 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Faculty of Business and Computing Page 25 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Petty Cash –Exercise 4

Spark’s Electrical Wholesalers Organisation procedures  All claims must be work-related and approved by your current supervisor.  Claims must be made within 14 days of expenditure.  No expense claims of over $35.00 per day allowed. (This will vary with each company).  No staff meals or dry cleaning will be claimed.  Staff Amenities – coffee, tea, milk and biscuits are claimable.  Reimburse your funds at the end of each month and/or when funds are low.

Task 1

Prepare a cheque requisition for a Petty Cash imprest cheque of $50.00. Write out the imprest cheque dated 8 October and change docket, then enter the value in the petty cash book.

Task 2 On the attached sheets, check the claims for accuracy for 10-20 October. If there is any difference between the claim and the receipt, the receipt is taken as correct. Check the claims for authenticity according to the guidelines you have been given. Make your corrections on the Petty Cash voucher.

Task 3

From the petty cash vouchers complete the petty cash book for 10-20 October.

Task 4

Balance the petty cash book on 20 October. The company has decided to increase the petty cash imprest to $75.00. Prepare a cheque requisition for the reimbursement of the fund. Please include the increased amount of imprest.

Write out a reimbursement cheque and change docket, then enter the value in the Petty Cash book.

Task 5

From the petty cash vouchers complete the petty cash book for 21-31 October. The vouchers DO NOT need correction.

Task 6

Balance the petty cash book on 31 October. Prepare a cheque requisition for the reimbursement of the fund.

Write out a reimbursement cheque and change docket, then enter the value in the Petty Cash book.

Faculty of Business and Computing Page 26 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

IMPREST CHEQUE—8 October—TASK 1

CHEQUE REQUISITION PAYEE: DATE REQUIRED: Details of accounts and amounts to be Debited:

Cheque No Issued: Cheque Total: Issued by: Requested by:

Date: WITCH BANK LIMITED TO: GLENDALE NSW 2285 FOR: Date: FWD: 11 560.00 PAY Or Bearer Deposit: 1 260.50 Balance: THE SUM OF $ This Cheque: Balance: SPARK’S ELECTRICAL ………………………….. ACN 663727758 ABN 66372775894 Drawer 333111 333111 456 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Petty Cash Receipts and Vouchers (for completing Task 2)

Faculty of Business and Computing Page 27 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

PETTY CASH VOUCHER Rent-a-Cab Tax Invoice R32 ABN 29 823 906 117 15 Date:10/10/20…. ……………… 20….. Received from: B Sparky For …Cab Fare DEBIT ………………………………... Cash/Cheque $7.50 Particulars ……………………………. GST $ 0.75 ………………………………………… Total $8.25 Signed ty

Goods/Services $…..…… GST $……….. Signed Total $……….. …….

PETTY CASH VOUCHER The Corner Shoppe 12 October 200x ABN 62 398 765 112 Tax Invoice 16 Coffee 6.30 12 Oct 20….. Chocolate Biscuits* 2.75

DEBIT Sundry Expenses TOTAL 9.05 Particulars Coffee, Biscuits GST included in total 0.25 ………………………………………… *taxable items Goods/Services $…9.05 CASH TENDER 10.00 GST $0.25 CHANGE 0.95 Total $9.30 Signed ……… lpo

PETTY CASH VOUCHER AUSTRALIA POST ABN 39 876 434 001 15/10/200x 17 TAX INVOICE 15/10/ 20….. Parcel 9.40 Stamps 2.70 DEBIT Postage Particulars Parcel, Stamps TOTAL* 12.10 ………………………………………… *Total inclusive of GST

Goods/Services $…10.90 GST $……1.20 Total $…12.10 Signed ……… lpo

Faculty of Business and Computing Page 28 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

PETTY CASH VOUCHER The Newsagency ABN 26 983 112 079 Tax Invoice 18 Date: 18 October 200x 18 October 20….. Card* (birthday) 4.95 DEBIT …Stationery TOTAL 4.95 Particulars Card GST included in total 0.45 ………………………………………… *taxable items

Goods/Services $…..4.50 GST $0.45 AMOUNT TENDERED 5.00 CHANGE 0.05 Total $…4.95 Signed …….… lpo

PETTY CASH VOUCHER Rent-a-Cab Tax Invoice R68 ABN 29 823 906 117 19 Date:20/10/20… ……………… 20….. Received from S Sparkey For Taxi DEBIT ………………………………... Cash/Cheque $12.00 Particulars ……………………………. GST $ 1.20 ………………………………………… Total $13.20 Signed EV

Goods/Services $…..…… GST $……….. Signed Total $……….. …….………

Faculty of Business and Computing Page 29 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

REIMBURSEMENT CHEQUE—20 October—TASK 4

CHEQUE REQUISITION PAYEE: DATE REQUIRED: Details of accounts and amounts to be Debited: Petty Cash Reimbursement Stationery Postage Travel Expenses Sundry Expenses Staff Amenities GST Paid Cheque No Issued: Cheque Total: Issued by: Requested by:

Date: WITCH BANK LIMITED TO: GLENDALE NSW 2285 FOR: Date: FWD: PAY Or Bearer Deposit: Balance: THE SUM OF $ This Cheque: Balance: SPARK’S ELECTRICAL ………………………….. ACN 663727758 ABN 66372775894 Drawer 333222 333222 456 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Petty Cash Vouchers—(all correct) (for completing Task 5)

Faculty of Business and Computing Page 30 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

PETTY CASH VOUCHER PETTY CASH VOUCHER 20 21 21 OCTOBER 20 …. 21/10/20….. DEBIT Stationery DEBIT Sundry Expenses Particulars Envelopes, erasers, pens Particulars Soap, broom Goods/Services $8.50 Goods/Services $19.00 GST $0.85 GST $1.90 Total $9.35 Signed ………… lpo Total $20.90 Signed ……… lpo

PETTY CASH VOUCHER PETTY CASH VOUCHER 22 23 24 Oct 20 …. 25 Oct 20 … DEBIT Postage DEBIT Travel Particulars Parcel Particulars Bus Fare Goods/Services $4.00 Goods/Services $2.00 GST $0.40 GST $0.20 Total $4.40 Signed ……… lpo Total $2.20 Signed …… lpo

PETTY CASH VOUCHER PETTY CASH VOUCHER 24 25 25/10/20…. 27 October 20 … DEBIT Travel DEBIT STAFF AMENITIES Particulars TAXI FARE Particulars Tea, Sugar, Milk Goods/Services $5.00 Goods/Services $8.35 GST $0.50 GST $0.00 Total $5.50 Signed ……… lpo Total $8.35 Signed ………… lpo

PETTY CASH VOUCHER PETTY CASH VOUCHER 26 27 20 OCT 20 …. 30 Oct 20….. DEBIT Postage DEBIT SUNDRY EXPENSES Particulars Parcel Particulars Batteries Goods/Services $2.50 Goods/Services $3.50 GST $0.25 GST $0.35 Total $2.75 Signed ……… lpo Total $3.85 Signed ……… lpo REIMBURSEMENT CHEQUE—31 October—TASK 6

CHEQUE REQUISITION PAYEE: DATE REQUIRED: Details of accounts and amounts to be Debited: Petty Cash Reimbursement

Faculty of Business and Computing Page 31 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Stationery Postage Travel Expenses Sundry Expenses Staff Amenities GST Paid Cheque No Issued: Cheque Total: Issued by: Requested by:

Date: WITCH BANK LIMITED TO: GLENDALE NSW 2285 FOR: Date: FWD: PAY Or Bearer Deposit: Balance: THE SUM OF $ This Cheque: Balance: SPARK’S ELECTRICAL ………………………….. ACN 663727758 ABN 66372775894 Drawer 333333 333333 456 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Faculty of Business and Computing Page 32 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH Petty Cash Book of Spark’s Electrical Page No 1

Amount Date Details Ref Amount Paid Stationery Postage Travel Staff Sundry GST Paid Received No Amenities Expenses

Petty Cash Book of Spark’s Electrical Page No 2

Amount Date Details Ref Amount Paid Stationery Postage Travel Staff Sundry GST Paid Received No Amenities Expenses

Faculty of Business and Computing Page 33 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Faculty of Business and Computing Page 34 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Petty Cash –Exercise 5

The Byter Bit Computer Store Organisation procedures  All claims must be work-related and approved by your current supervisor.  Claims must be made within 14 days of expenditure.  No expense claims of over $35.00 per day allowed. (This will vary with each company).  No staff meals or dry cleaning will be claimed.  Staff Amenities – coffee, tea, milk and biscuits are claimable.  Reimburse your funds at the end of each month and/or when funds are low.

Task 1

Prepare a cheque requisition for a Petty Cash imprest cheque of $100.00. Write out the imprest cheque dated 12 November and change docket, then enter the value in the petty cash book.

Task 2

On the attached sheets, check the claims from 14-26 November for accuracy. If there is any difference between the claim and the receipt, the receipt is taken as correct. Check the claims for authenticity according to the guidelines you have been given. Make your corrections on the Petty Cash voucher.

Task 3

From the petty cash vouchers complete the petty cash book for 14-26 November.

Task 4

Balance the petty cash book on 26 November. Prepare a cheque requisition for a Petty Cash reimbursement. Write out a reimbursement cheque and change docket, then enter the value in the Petty Cash book.

Task 5

From the petty cash vouchers complete the petty cash book for 27 November-9 December. The vouchers DO NOT need correction.

Task 6

Balance the petty cash book on 9 December. The company has decided to increase the petty cash imprest to $150.00. Prepare a cheque requisition for the reimbursement of the fund. Please include the increased amount of imprest. Write out a reimbursement cheque and change docket, then enter the value in the Petty Cash book.

Faculty of Business and Computing Page 35 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

IMPREST CHEQUE—12 November—TASK 1

CHEQUE REQUISITION PAYEE: DATE REQUIRED: Details of accounts and amounts to be Debited:

Cheque No Issued: Cheque Total: Issued by: Requested by:

Date: WITCH BANK LIMITED TO: GLENDALE NSW 2285 FOR: Date: FWD: PAY Or Bearer Deposit: Balance: THE SUM OF $ This Cheque: Balance: BYTER BIT COMPUTER STORE ………………………….. ACN 553727758 ABN 55372775894 Drawer 234333 234333 425 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Petty Cash Receipts and Vouchers (for completing Task 2)

Faculty of Business and Computing Page 36 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

PETTY CASH VOUCHER AUSTRALIA POST ABN 39 876 434 001 14/11/200x 52 TAX INVOICE 14 Nov 20….. Parcel 7.05 Stamps 5.60 DEBIT Postage Particulars Parcel, Stamps TOTAL* 12.65 *Total inclusive of GST

Goods/Services $11.50 GST $…1.51 Total $12.65 Signed XZ

PETTY CASH VOUCHER Road Runner Cabs Tax Invoice 29 ABN 80 987 234 56 53 Date:15 Nov 20… ……………… 20….. Received from P Mouse For …Cab Fare DEBIT ………………………………... Cash/Cheque $12.50 Particulars ……………………………. GST $ 1.25 ………………………………………… Total $13.75 Signed CG

Goods/Services $…..…… GST $……….. Signed Total $……….. … XZ

PETTY CASH VOUCHER The Pastry Place 16 November 200x ABN 45 013 980 222 Tax Invoice 54 Sandwiches* 16.50 16/11/ 20….. Scones* 7.15 Drinks* 10.45

DEBIT Staff Amenities TOTAL 34.10 Particulars sandwiches, scones, drinks GST INCLUDED IN TOTAL 3.10 *taxable items ………………………………………… Goods/Services $31.00 CASH TENDER 40.00 GST $…13.10 CHANGE 5.90 Total $……34.10 Signed … XZ

Faculty of Business and Computing Page 37 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

PETTY CASH VOUCHER AUSTRALIA POST ABN 39 876 434 001 16/11/200x 55 TAX INVOICE 16/11/ 20….. Parcel 7.15 TOTAL* 7.15 DEBIT Stationery Particulars Parcel *Total inclusive of GST

Goods/Services $…7.15 GST $……0.00 Total $……7.15 Signed XZ

PETTY CASH VOUCHER Mick’s Takeaway ABN 26 497 324 668 56 Date: 20 November 200x 20 Nov 20….. Milk 4.15 Bread 2.35 DEBIT Staff Amenities Soft drink *3.85 TOTAL 10.35 Particulars Milk, Bread, drinks GST included in total 0.35

Goods/Services $…10.00 AMOUNT TENDERED 12.00 CHANGE 1.65 GST $……0.35 Signed … XZ Total $…10.35 *taxable items TAX INVOICE

PETTY CASH VOUCHER Road Runner Cabs Tax Invoice 63 ABN 80 987 234 56 57 Date 25/11/20 ……………… 20….. Received from Byter Bit For …Cab Fare DEBIT ………………………………... Cash/Cheque $7.50 Particulars ……………………………. GST $0.75 ………………………………………… Total $8.25 Signed NS

Goods/Services $…..…… GST $……….. Signed Total $………..

Faculty of Business and Computing Page 38 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

PETTY CASH VOUCHER Road Runner Cabs Tax Invoice 72 ABN 80 987 234 56 58 Date 26/11/20… ……………… 20….. Received from Byter bit For Taxi Fare DEBIT ………………………………... Cash/Cheque $5.50 Particulars ……………………………. GST $0.55 ………………………………………… Total $6.05 Signed SDJFS

Goods/Services $…..…… GST $……….. Signed Total $……….. …….

Faculty of Business and Computing Page 39 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

REIMBURSEMENT CHEQUE—26 November—TASK 4

CHEQUE REQUISITION PAYEE: DATE REQUIRED: Details of accounts and amounts to be Debited: Petty Cash Reimbursement Stationery Postage Travel Expenses Sundry Expenses Staff Amenities GST Paid Cheque No Issued: Cheque Total: Issued by: Requested by:

Date: WITCH BANK LIMITED TO: GLENDALE NSW 2285 FOR: Date: FWD: PAY Or Bearer Deposit: Balance: THE SUM OF $ This Cheque: Balance: BYTER BIT COMPUTER STORE ………………………….. ACN 553727758 ABN 55372775894 Drawer 234444 234444 425 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Petty Cash Vouchers—(all correct) (for completing Task 5) PETTY CASH VOUCHER PETTY CASH VOUCHER 59 60

Faculty of Business and Computing Page 40 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

27 Nov 20 …. 27/11/20… DEBIT STAFF AMENITIES DEBIT Sundry Expenses Particulars Coffee, tea Particulars Brush, Dusters Goods/Services $9.50 Goods/Services $8.00 GST $0.00 GST $0.80 Total $9.50 Signed XZ Total $8.80 Signed … XZ

PETTY CASH VOUCHER PETTY CASH VOUCHER 61 62 1/12/20… 2/12/20…. DEBIT POSTAGE DEBIT STATIONERY Particulars Courier delivery Particulars Paper clips, pens Goods/Services $15.00 Goods/Services $4.50 GST 1.50 GST $0.45 Total $16.50 Signed … XZ Total $4.95 Signed …… XZ

PETTY CASH VOUCHER PETTY CASH VOUCHER 63 64 2/12/20…. 4 Dec 20… DEBIT TRAVEL DEBIT Sundry Expenses Particulars Bus Fare Particulars Magazines Goods/Services $2.50 Goods/Services $7.00 GST $0.25 GST $0.70 Total $2.75 Signed … XZ Total $7.70 Signed …… XZ

PETTY CASH VOUCHER PETTY CASH VOUCHER 65 66 5 Dec 20…. 8 Dec 20…. DEBIT TRAVEL DEBIT STATIONERY Particulars Taxi Particulars Paper for Advertising Goods/Services $6.50 Goods/Services $5.00 GST $0.65 GST $0.50 Total $7.15 Signed …… XZ Total $5.50 Signed ……… XZ

Faculty of Business and Computing Page 41 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

PETTY CASH VOUCHER PETTY CASH VOUCHER 67 68 9 Dec 20…. 9 Dec 20 … DEBIT Sundry Expenses DEBIT STATIONERY Particulars Flowers for reception Particulars Envelopes Goods/Services $25.50 Goods/Services $3.50 GST $2.55 GST $0.35 Total $28.05 Signed … XZ Total $3.85 Signed XZ

PETTY CASH VOUCHER PETTY CASH VOUCHER 69 70 9 Dec 20… 9 Dec 20 … DEBIT Sundry Expenses DEBIT STAFF AMENITIES Particulars Newspaper Particulars Milk Goods/Services $0.80 Goods/Services $1.50 GST $0.10 GST $0.00 Total $0.90 Signed …… XZ Total $1.50. Signed ……… XZ

Faculty of Business and Computing Page 42 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

REIMBURSEMENT CHEQUE—9 December—TASK 6

CHEQUE REQUISITION PAYEE: DATE REQUIRED: Details of accounts and amounts to be Debited: Petty Cash Reimbursement Stationery Postage Travel Expenses Sundry Expenses Staff Amenities GST Paid Cheque No Issued: Cheque Total: Issued by: Requested by:

Date: WITCH BANK LIMITED TO: GLENDALE NSW 2285 FOR: Date: FWD: PAY Or Bearer Deposit: Balance: THE SUM OF $ This Cheque: Balance: BYTER BIT COMPUTER STORE ………………………….. ACN 553727758 ABN 55372775894 Drawer 234555 234555 425 894 1236584

Witch Bank

CHANGE DOCKET

$ c $100 50 20 10 5 2 1 50c 20c 10c 5c Total

Faculty of Business and Computing Page 43 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Petty Cash Book of Byter Bit Computer Store Page No 1

Amount Date Details Ref Amount Paid Stationery Postage Travel Staff Sundry GST Paid Received No Amenities Expenses

Petty Cash Book of Byter Bit Computer Store Page No 2

Amount Date Details Ref Amount Paid Stationery Postage Travel Staff Sundry GST Paid Received No Amenities Expenses

Faculty of Business and Computing Page 44 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

Faculty of Business and Computing Page 45 of 47 Business Administration 6 April 2018 BSBCMN207A – PETTY CASH Petty Cash Discussion Points

1 Nerida is making frequent and excessive claims for taxi fares.

2 Ray has asked for reimbursement of the cost of a desk organiser, but has failed to produce a receipt.

3 Tran waits until he has several expenses before lodging a claim. By then, quite a large sum is involved and reimbursing him severely depletes your balance.

4 Arthur brings the petty cash docket to you without first having it signed by the authorising officer.

5 Lee is asking for a refund for the cost of flowers for her desk.

6 Jane is frequently short of money and on several occasions has asked you to let her borrow from the petty cash fund.

ANSWER THE FOLLOWING POINTS:

1 What is the name of the first cheque, which is used to open or establish a Petty Cash System?

2 What does balance b/d mean?

3 What does balance c/d mean?

4 If the imprest cheque was $200, you spent $195.50 and you decided to increase the Imprest amount to $250, what amount would you write out on the cheque?

5 If you are just completing page 2 of the Petty cash book and getting ready to start page 3 – how would you complete page 2 and what would you do at the top of page 3?

Faculty of Business and Computing Page 46 of 47 Business Administration 6 April 2018 FNSICGEN305A/E. 3.1,3.2 / BSBCMN207A PETTY CASH

6 When must you reimburse the petty cash system?

7 Would you write up a cancelled voucher into the petty cash book?

Faculty of Business and Computing Page 47 of 47 Business Administration 6 April 2018