Accounts Payable
PURPOSE OF PETTY CASH
Departments are encouraged to use petty cash funds to reduce time, paperwork, and administrative expenses for minor business expenditures. Petty cash may be used to reimburse authorized expenditures up to $200 per transaction for retail purchases, meeting expenses, business meals, local travel expenses, books, subscriptions, postage, and similar expenses. Please remember that we have a contract with Office Max and should not be getting supplies at Staples.
When attempting to obtain reimbursement for a business meal for two or more people, you MUST bring an itemized receipt from the restaurant. A credit card slip will not be sufficient and your reimbursement will be refused. USNH audit review of our files requires this detail. Reminder: PSU will not reimburse meals for a day trip for one person, unless there is a compelling business purpose and is clearly substantiated with detailed restaurant receipt.Petty Cash slips MUST have the following "5W" questions answered:
- Who - Names of those present (groups of 10 and under)
- What - Type of Item(s)
- Where - Location of Activity
- When - Dates Inclusive
- Why - Business Purpose
- Valid/Active department FOAPAL
- Authorized signature
Petty Cash slips are processed at the Accounts Payable office.
When Petty Cash may NOT be used:
- transactions over $200
- to make personal loans, advances
- to pay employees or non employees compensation for services rendered
(e.g. honorariums or other stipends)- moving expenses
- to buy hazardous materials or controlled substances
- to pay for expenses that are personal or otherwise not allowable according
to current PSU policy, procedure, or practice
