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Accounting & Tax vocabulary · Bookkeeping & Ledgers

Petty cash

Meaning in accounting & tax, with examples

/ˌpeti ˈkæʃ/nounCommon term

In accounting & tax, petty cash means: A small amount of cash kept in the office to pay for minor expenses, such as stamps, taxis or cleaning supplies, without making a bank transfer.

In Turkish: küçük kasa, el kasası

How it is used

One person is responsible for the petty cash box. Each payment needs a voucher or receipt, and the fund is topped up (replenished) regularly. Auditors sometimes count it without warning.

Example sentences

  1. You can take the money for the courier from petty cash, but bring back the receipt.

  2. The petty cash count was 340 lira short.

Common collocations

  • petty cash box
  • petty cash voucher
  • replenish petty cash
  • petty cash float
  • receiptA document that proves money has been paid or goods have been received, given to the person who paid or delivered.
  • expense claimA request an employee submits to get back money spent personally on business costs, such as travel or client meals, supported by receipts.
  • internal controlThe policies and procedures a company uses to protect its assets, prevent errors and fraud, and make sure its financial reporting is reliable.
  • bank reconciliationA regular check that compares the cash balance in a company's books with the bank statement and explains every difference between them.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Bookkeeping & Ledgers

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This page explains English vocabulary for learners. It is not financial advice.