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Petty cash expenses

Rudrayani Shedjale (Assistant Accountant) (751 Points)

23 May 2013

Hello

i have got 2 statements of petty cash for the period fm 15.03.13 to 31.03.13 which contains the exp of the same period. but after incurring those expenses cheque has been issued on 01.04.13,5.04.13 & 09.04.13. (means exp for the period fm 15.03.13to31.03.13 but due to some reasons cheque has been issued in the month of April13 named Petty cash.......)

so should i book those exp for March13 or April13???

i have heard of provision for salary,prov.for wages,prov.for taxation etc....but prov.for p.cash?????

very much confusion.

pls guide.

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5 Replies

Sachin Rajput (account exe) (593 Points)
Replied 23 May 2013

you should paas enty as on 31.03.13

Expenses A/c Dr.

To imprest A/c (current liability )

and now in f . y 203-14

Imprest A/c Dr.

To bank A/c

1 Like

Rajesh (Service ) (7576 Points)
Replied 23 May 2013

If you are issuing cheques against petty expenses then that should not be a part of your Petty cashbook

For the expenses cheque paid in April month you should debit to expenses account and credit to Outstanding Expenses account as on 31st March and in the month of April you should debited to Outstanding Expenses account and credited to bank account.

There are no need to show this expenses in your petty cash book.

Rajesh

1 Like

Abhishek Jain (Manager-Finance) (64 Points)
Replied 23 May 2013

Originally posted by : Rajesh
	If you are issuing cheques against petty expenses then that should not be a part of your Petty cashbook For the expenses cheque paid in April month you should debit to expenses account and credit to Outstanding Expenses account as on 31st March and in the month of April you should debited to Outstanding Expenses account and credited to bank account. There are no need to show this expenses in your petty cash book. Rajesh