Petty Cash
Petty Cash is a small amount of money kept in an office for minor, everyday expenses like coffee supplies, small office items, or local delivery fees. It's a common system used in businesses where employees need quick access to cash for small purchases without going through formal purchase orders. Think of it as a mini company wallet that administrative staff manages, keeping track of what's spent and making sure receipts are collected. Some companies might call this a "cash float" or "office cash fund."
Examples in Resumes
Managed Petty Cash fund of $500, maintaining accurate records and reconciliation
Developed improved Petty Cash tracking system reducing discrepancies by 95%
Administered Cash Float and Petty Cash disbursements for 3 office locations
Typical job title: "Office Administrators"
Also try searching for:
Where to Find Office Administrators
Example Interview Questions
Senior Level Questions
Q: How would you set up and manage a petty cash system for multiple office locations?
Expected Answer: Should explain creating clear policies, setting appropriate fund amounts per location, implementing tracking systems, training staff, and establishing regular audit procedures.
Q: What steps would you take if you discovered discrepancies in the petty cash records?
Expected Answer: Should discuss investigating the discrepancy, reviewing receipts and records, reporting to management, implementing corrective measures, and suggesting improved tracking methods.
Mid Level Questions
Q: How do you maintain accurate petty cash records?
Expected Answer: Should mention using a log book or spreadsheet, collecting receipts, regular counting and reconciliation, and following company policies for documentation.
Q: What is your process for petty cash reimbursement?
Expected Answer: Should describe collecting receipts, verifying expenses, recording transactions, getting necessary approvals, and maintaining proper documentation.
Junior Level Questions
Q: What is petty cash used for in an office setting?
Expected Answer: Should explain that petty cash is for small, immediate office expenses like supplies, refreshments, or local deliveries, with examples of appropriate uses.
Q: How do you handle basic petty cash transactions?
Expected Answer: Should describe getting proper approval, recording the amount taken, collecting receipts, and updating the log with the expense details.
Experience Level Indicators
Junior (0-2 years)
- Basic cash handling
- Record keeping
- Receipt collection
- Simple expense tracking
Mid (2-5 years)
- Fund reconciliation
- Policy implementation
- Digital tracking systems
- Staff training on procedures
Senior (5+ years)
- Multiple location management
- Policy development
- Audit preparation
- Process improvement
Red Flags to Watch For
- Poor attention to detail in expense tracking
- Inability to maintain organized records
- Lack of basic math skills
- No experience with financial documentation
- Unfamiliarity with basic accounting principles
Related Terms
Need more hiring wisdom? Check these out...
Cutting HR Costs Without Sacrificing Quality: A How-To for Savvy Executives
The Hidden Art of Salary Negotiation: How to Win Hearts Without Going Broke
The $100M Mistake: Hidden Costs of Rushed Leadership Hires (Data Study)
