petty cash for newbies october 2010 back to basics petty cash purchases are limited to $250 or less...
TRANSCRIPT
PETTY CASH FOR NEWBIES
OCTOBER 2010
BACK TO BASICS
Petty cash purchases are limited to $250 or less
Items over $250 are to be purchased with approved PO
Reimburse staff members for PISD purchases made with personal funds
BUT CAN I ?
Request multiple receipts at the same store, the same day to
keep each receipt below $250?
BUT CAN I ?
Shop every week at the same store to purchase same item(s)?
Repetitive buying circumvents
purchasing guidelines
BUT CAN I ?
Purchase items from any vendor?
As long as the purchase is $250 or less.
BUT CAN I ?
Issue a reimbursement for more than $250 on a single check?
As long as the receipts are not from same store, same day
BUT CAN I ?
Issue a reimbursement for
$20 parking fee?
As long as the total travel expense such as cab fares, tolls, parking, meals is $50 or less
BUT CAN I ?
Reimburse for drinks that are not
Dr. Pepper products?
Only Dr. Pepper products are reimbursable.
BUT CAN I ?
Issue a check to a vendor?
One exception only to a vendor –
Refer to student book order handout
BUT CAN I ?
Issue a check to a parent ?
Only exception –
For textbook or library book refund
BUT CAN I ?
Cash a personal check from
PC cash box ?
MORE INFORMATION
RECEIPTS
Should reflect PISD purchases only No personal items on receipt Should be original receipt Be cautious of cash back on receipt SUBMITTED AND REIMBURSED
WITHIN 15 DAYS OF EXPENDITURE DATE
LOST RECEIPT ? Request a copy from store - Preferred Lost Receipt Form may be submitted
with following information:• Seller’s / Vendor Name• Address & Phone Number• Date of Purchase• Amount Paid• Items Purchased• Principal and Staff Signature
WAL-MART
214-555-9999
AUG 30, 2009
$75.00
SALES TAX
Methods to secure sales tax exemption for PISD purchases:– Provide PISD identification badge or– Provide tax exempt card
• A number is not required
OK to reimburse staff for sales tax
CASH VS CHECK-WRITINGPETTY CASH
CASHReimburse for purchases $10-$15 and under
Max. amount of PC cash box is $200
CHECKReimburse for purchases $10.01-$15.01 to $250
Within how many days? 15 DAYS