Petty Cash and Floats

Some amounts of money are not managed within VisionVPM on a daily basis. These include petty cash and the till float.

Petty Cash

Petty cash is an amount of cash that is kept available for small day-to-day expenses, for example, milk, tea, postage and taxi fares. Petty Cash should be kept separate from the money in the till so that bankings are not affected by petty cash transactions.

You should keep records (and receipts) to show how the Petty Cash has been spent.

Float

A float is the amount of cash that is kept in the till in coins and notes for giving change to clients. For accuracy when counting receipts, the float should be a set amount, for example, $200.

The float is generally NOT included in the VisionVPM till balance. It should remain a constant amount. The only entry required in VisionVPM is when the float is initially set up, or any time it is increased.