Petty Cash

As far as your Durell system is concerned, Petty Cash is effectively a supplier that sells coffee, stamps and biscuits, etc, on credit, that you settle in fixed lumps of, say, £50 each, usually paid in advance.

Then each time you use some petty cash ensure you get a paper receipt and enter the details of each one in the Purchase Ledger, like that shown below, where the Name will be “Petty Cash”, the Item/Policy number will describe the item and the Who/Policy holder will show the retail outlet (e.g. Name=Petty Cash, Item/Policy number=Stationery, Who/Policyholder=WH Smith). When you have run out of petty cash, repeat the above process to replenish your real life box with another £50 and add a matching entry in the Cashbook. Then re-find the last un-reconciled Petty Cash transaction, double-click it to switch to the flat view, then click the “Reconcile” button whereupon you’ll be presented with the Petty Cash account to be reconciled (see “Accounts, Cashbook, Reconciling (Insurer and Adviser Accounts, etc”).