Pages: 1
petty cash
Our company hands over some cash to an employee for meeting day to day petty expenses. Some times the petty cashier puts in cash from his own pocket and spends for the company. When the vouchers are posted, the petty cash account shows a negative balance.

My question is can we have a negative petty cash balance in Petty cash account or Main Cash Account ?
I'm not an expert but that sounds like debt.
Yes, it's debt, monetary item can't be negative.
thanks a lot for help
Pages: 1
Users browsing this topic

Login to ReadyRatios


Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: