Question

You oversee the $250 petty cash for your company. When an employee needs a special item that is not in inventory, you take money from petty cash to purchase that item.

One day, you are short on cash for lunch. You decide to borrow $10 each day for the next 3 days until payday for a total of $30 from petty cash. After payday, you do not have enough to repay petty cash, so you decide to record a cash short/over expense of $30.

Since this is the first time you have ever done this, is this a problem? If so, what steps should be taken to fix this problem? If not, why not?

Answer 1

Answer :-

• Indeed, this is an issue, regardless of, if its the first run through or a 100th time.
• You are not assume to charge your own costs to the organization costs.
• So as to beat such issue, you should answer to your prevalent of such mis-direct, you can request some an opportunity to reimburse the costs back to the record, or have a compensation cut in your next payday, or any such course of action conceivable.
• It your obligation illuminate your boss, with the goal that he knows about any such apportionment's done in the record.

Note :-

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answered by: anonymous