Accounting/Compliance Office

Purposes of a Petty Cash Fund

Petty cash funds are used primarily for making change for sales, or for paying small amounts (less than $100.00) to research participants. Amounts of $100.00 or more paid to research participants should be on a Supplier Invoice. For other purposes, it is preferable to utilize a Purchasing Card or as an Expense reimbursement, rather than a petty cash fund.

Establishing (or Increasing) a Petty Cash Fund

Replenishing a Petty Cash Fund

Closing (or Reducing) a Petty Cash Fund

Reporting Petty Cash Losses or Theft

Responsibilities of Petty Cash Custodians

Petty Cash Funds Requiring Checking Accounts for Disbursements

Sponsored Programs Accounts (GR/SG Worktags)

The examples in the links above focus primarily on PG worktags with IRT1139 optional worktag (petty cash accounts). There also can be Non-Travel Project Advances to ISU Employees or Advances to Foreign Subcontractors or Foreign Individuals. Please contact your Sponsored Programs Accounting Accountant for questions regarding advances for GR/SG worktags.

This page was last updated April 22, 2020.