Accounting Office / Accounts Payable

1. If the petty cash advance is being closed or reduced, any excess cash should be deposited into the 907-XXXX account via Deposits Online, using class code 915-00.
   
   
2. If receipts for expenses from the petty cash fund have not yet been submitted, follow this example for submitting the expenses on an Iowa State University - Voucher. (Unless the documentation is RPRF forms for research participants, a Petty Cash Voucher also must be attached to the Iowa State University - Voucher.) The net zero voucher will charge your department for the expenses represented by the receipts, and reduce the outstanding petty cash advance by the same amount, but no check will be written.
   
   
3. To record a loss of petty cash funds by theft or mysterious disappearance, see the Procedures for Reporting Petty Cash Losses or Theft.
   
   
4. If your intention is to close the account, after following the steps above, confirm that the 907-XXXX account balance is now zero.
   
   
5. If your intention is to reduce the account, confirm that the 907-XXXX account balance equals the amount of cash on hand.
   
   
6. Any questions regarding the closing or reducing of petty cash funds should be directed to the Accounting Office at 294-5124.

Last Updated August 28, 2009.