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Petty Cash
A small cash float held for minor, immediate purchases.
- Area
- Accounting
- Also known as
- imprest, cash float
- In this area
- 51 terms of 259
Petty cash is a fixed float — often run as an imprest, where the exact amount spent is reimbursed to restore the original balance — used for small purchases that cannot wait for a payment run.
It needs the strictest simple controls: one custodian, a receipt for every disbursement, a spend ceiling per item and periodic surprise counts. Cash is the easiest asset to lose and the hardest to trace.
Petty Cash is not just a definition here
Accounting runs on this vocabulary every day in AWRA OpsHub — 51 of our 259 glossary terms describe things the platform actually does.