Petty cash management
Manage overlooked, smaller business expenditures using real-time reporting
How Webexpenses petty cash management works
Webexpenses' petty cash module automates how companies manage day-to-day expenditure. With Webexpenses petty cash businesses can:
- Dedicate each user in the system to manage a petty cash account (tin/lockbox)
- Upload and digitally attach receipts
- Use real-time reporting for complete visibility on smaller departmental purchases that are often overlooked
Pre-approvals for faster process
Compatible with imprest system
Track spend for improved reporting
What is petty cash?
Traditionally, petty cash funds are managed by a physical ‘tin’ or ‘lockbox’ within a company or department. The person responsible for petty cash is required to manage payments coming in and out, keep a record of payments, and reimburse employees accordingly.
Petty cash is a fund that can be immediately available to cover incidental business expenses. This typically covers smaller one-off items such as office supplies, postage stamps or food/drinks bought for the office.