Petty cash: floats, vouchers and counts

Petty cash is a small box of cash kept by one person, the custodian, for everyday costs: fuel, stationery, a taxi. Zeyto calls the box a float. A float has a fixed amount it is meant to hold, its imprest, and its own cash account in the chart of accounts. Under the imprest method you spend from the box, keep every bill, and top it back up to the fixed amount by exactly what was spent.

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Accounting, Petty Cash: the float, what is on hand and the vouchers.

All of it is under Accounting, Petty Cash. Create the float first (+ New Float): a Code, Name, Custodian, Branch, the Imprest amount and optionally a top-up threshold. Leave GL account on Create a new Cash account for this float. A float cannot be switched off while it still holds cash or has staff advances outstanding.

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Press + New Expense: pay from the float and claim the VAT.

Spending

Press + New Expense. This is the Expense Entry form with a petty cash tag. Fill in the Invoice or Bill No (Zeyto will not post without one), pick the float in Paid from float, and add lines with an expense Account and the Taxable amount before VAT. If the bill has VAT you can claim, keep Claim VAT input ticked, pick the Supplier and make sure the 15-digit TRN is there; Zeyto stops with a message when either is missing, because the FTA requires a valid tax invoice. If there is no VAT to claim, clear Claim VAT input before typing lines.

Save and Post debits each expense for the taxable amount, debits VAT Input for the VAT, and credits the float's cash account for the total, so its Cash on hand goes down.

Topping up

A Petty Cash Replenishment moves money from your main cash or bank account into the float's cash account. Use + Replenish, pick Take from, the float to top up and the Amount. Normally the Amount is the Vouchers figure on the Petty Cash page, the amount spent since the last top-up. Entry: debit the float, credit the account the money came from.

Counting

Post every voucher first. Count the cash, then use Cash Count: pick the float, type the Physical count and press Record Count. Zeyto compares your count with Cash on hand at that moment. If equal, it only records the count. If they differ, it posts the difference at once to Cash Short and Over (5910): over means the box holds more, so debit the float and credit Cash Short and Over; short means it holds less, so debit Cash Short and Over and credit the float.