are there any special procedures for managing non-petty cash?
"You manage this account just as any other account. ""Petty cash"" refers to accounts where the cash money is intended for ad-hoc purchases, where you store an amount of cash in your drawer and take it out as needed. However, other than naming it ""petty cash"", there's nothing petty about it - it's an account just as any other. Many choose to just ""deduct"" the amount transferred to ""Petty Cash"" account and not manage it at all. Here the amount matters - some smaller amounts can fall under ""de minimis"" rules of the appropriate regulatory authority. Since you told nothing about where you are and what your business is - we can't tell you what the rules are in your case. If you track the usage of this account (and from your description it sounds like you are) - then the name ""Petty Cash"" is meaningless. It's an account just like any other. Since you have an employee dealing with this cash you should establish some internal audit procedures to ensure that there's no embezzlement and everything is accounted for. You will probably want to reconcile this account more often than others and check more thoroughly on what's going on with it. Since its a ""personal finance"" forum, I'm assuming you're a sole proprietor or a very small business, and SEC/SOX rules don't apply to you. If they do - you should have a licensed accountant (CPA or whatever public accountancy designation is regulated in your area) to help you with this." After talking to two CPAs it seems like managing it using an imprest system is the best idea. The base characteristic of an imprest system is that a fixed amount is reserved and later replenished as it runs low.  This replenishment will come from another account source, e.g., petty cash will be replenished by cashing a cheque drawn on a bank account. Petty cash imprest system allows only the replenishment of the spend made. So, if you start the month with €100 in your petty cash float and spend €90 of that cash in the month, an amount of €90 will be then placed in your petty cash float to bring the balance of your petty cash float back to €100. The replenishment is credited to the primary cash account, usually a bank account (Dr - Petty Cash a/c, Cr - Bank a/c) and the debits will go to the respective expense accounts, based on the petty cash receipt dockets (Dr- Expense a/c, Cr - Petty Cash a/c). In a non imprest system where a fixed amount is issued every month, e.g., €100 every time cash is required, there is no incentive to ensure all money issued has been documented because when money is all spent a check for a fixed amount is issued. It is much more difficult to reconcile a non imprest system as you never know how much exactly should be in the float. In an imprest system the amount requested is documented, the documentation being the petty cash dockets and their associated receipts or invoices. So at all times you can check how much should be left in the petty cash float by deducting the amount spent from the opening petty cash float.
The average CIO I've encountered is technically incompetent to the point of not being capable of even self sufficiency with e-mail. They have never worked a day in IT in their life. They are generally an accountant or something and slashing budgets is all they know. IT is a cost centre, blah, blah, blah. They do this without being able to understand the significance of their decisions. They get their opinions from Forrester or Gartner reports they barely understand and which are often echo chambers of what other non-IT CIOs are doing, a.k.a. market trends. Add a sprinkle of whatever turds some smooth talking salesman can throw over the wall. They get bonuses for racking up technical debt under the guise of saving money. Support costs eat the savings and then some, which gets hidden under a mountain of bad bookkeeping and robbing Peter to pay Paul. An army of non-technical project managers spring up under them because of the mistaken belief that non-it people should run IT projects.  Costs rise, morale sinks, tech debt skyrockets. People who could provide significant competitive advantage instead spend their days and nights lashing increasingly fragile infrastructures together with duct tape and bailing wire. The solution is obviously labour intensive management frameworks where IT people are made to generate mountains of processes that will amount to nothing when management and the business fail to follow through on their part of the commitment, in the complete absence of any accountability. After they fuck up any advantage to in house IT then it's time to outsource to achieve big savings... for one year, then prices go up, but they already cashed that bonus check. When they've irrevocably screwed up one company then they move on to a better position, to make a bigger mess. Lather, rinse, repeat.  At least I'm not bitter. According to the U.S. Bureau of Engraving and Printing, if you have clearly more than one-half of the current bill remaining, you should be able to take it to your bank and exchange it. But if for some reason your bank will not take it, you can submit it to Bureau of Engraving and Printing Office of Currency Standards. Question asked on http://www.moneyfactory.gov/faqlibrary.html I have some currency that was damaged. My bank will not exchange it for undamaged currency. What can I do? The Bureau of Engraving and   Printing's Office of Currency Standards processes all requests for   reimbursement for damaged United States currency. They decide the   redemption value of torn or otherwise unfit currency by measuring the   portions of the notes submitted. Generally, they reimburse the full   face value if clearly more than one-half of the original note remains.   Currency fragments measuring less than one-half are not redeemable. Go   to the Damaged Money section of our website for additional information   and the procedures to redeem mutilated currency. However take notice of this: Any badly soiled, dirty, defaced, disintegrated, limp, torn, worn, out   currency note that is CLEARLY MORE than one-half of the original note,   and does not require special examination to determine its value. These   notes should be exchanged through your local bank. Two companies I worked for in the DC area also did WageWorks. The commuting money could be used for the Subway, Bus, and commuter rail. A separate pot of money was used for parking.  We had to estimate the amount of money that would be used the next month. We had to decide by mid-June how much we would spend in July. The money was automatically added to the metro fare card on the first business day of the month. When I first started they put the money on a special debit/credit card that could only be used at commuter system. It would be rejected at the department store. If parking couldn't be paid using a special card, there was a way to claim the money with or without receipts. If the company, like the US Government does for their employees, paid the commuting expenses any excess funds at the end of the month were pulled back from the card. They were just starting to do this in 2012 for employee pre-tax funds. They were supposed to add it to your next paycheck any excess at the end of the month. There was also a way to use post tax funds from your paycheck so that all your commuting expenses could be on one card. Of course any post-tax funds would be left on the card. There was no real way for them to audit this because the system would never know if you were going to work or going to the dentist. I ended up using two cards, one for work and one for non-work usage. Firstly, thank you for taking the time to respond, let me see what I can answer to help give you a bigger picture.  * I am the rental manager but like I say, it's a small unit where the operations team is only 5 strong. We all have a hand in everything really and it was my precedent for implementing procedures in the past that triggered them to ask me into looking into this.  * Honestly, I don't think I have much of a budget. That being said, if there's a price to anything and I can justify the company spending the money, they will be fair.  From a personal perspective, I never even considered that third party software would be required for this kind of thing. If there's any you could recommend (licensed or open sourced) that would be greatly appreciated.  * From what I can tell, the people in charge want a process in which we can fully understand CSAT from both a service and product standpoint. We can use the information gathered from our service feedback to improve ourselves and we can use the information gathered about the vehicles we lease (the products) so we can market them correctly in the future. Seeing how the customer feels on the vehicle's fuel economy, performance, comfort on the driver, downtime, etc. which can lead us to marketing the vehicles better or influence what vehicles we purchase moving on.  * For the most part, I think the working processes are going to remain the same, where the customer support manager will have a more active role in getting these calls/visits/emails out to the customers and react accordingly.  Again, thank you so much for your help. "I used Quicken, so this may or may not be helpful. I have a Cash account that I call ""Temporary Assets and Liabilities"" where I track money that I am owed (or that I owe in some cases).  So if I pay for something that is really not my expense, it is transferred to this account (""transferred"" in Quicken terms).  The payment is then not treated as an expense and the reimbursement is not treated as income--the two transactions just balance out." Yes. it is possible, I have seen many times banks permitting overdrawing and later charging a high courtesy fees. Of course in many countries this is not permitted. In one of my account, I am running negative balance as the bank has charged its commission which is not due. Banks have electronic money counters so the order really doesn't matter. When I make a cash deposit that's large, I usually just put it in an envelope and hand it over. Why would you even accept 75K in cash? If anything is going to trigger an audit, this will be it. 75K in cash deposited will look like money laundring, so you better have a paper trail ready to prove this is legal or this won't end well.