ePR – Petty Cash

Payment Type: Petty Cash (PC)

Business Purpose: All

Definition:

• Payments to established petty cash custodians to replenish petty cash funds. Petty cash is considered very high risk. Internal and external reviewers/auditors will always scruitinize documentation with the assumption the cash has been mishandled. The custodian should provide quality documentation with this perspective in mind.

Example(s):

• A department has used almost all of their petty cash funds and need to replenish the cash available.
• The department runs a study whose subjects must be compensated for their time with cash payments.

Documentation:

• Electronic copy of original receipts. (Originals can bet be kept on file in department.)
• Petty Cash Reimbursement Form. Payment total must match distribution total. https://fbs.admin.utah.edu/download/ga/pettycashreimb.pdf
• If human subjects are compensated from petty cash, submit a Patient Reimbursement Request form as part of the documentation. https://fbs.admin.utah.edu/download/AP/pthst.pdf
• W-9 if vendor is new or their information has changed.

Additional Approvals:

• Department Head Approval on the Petty Cash Reimbursement Form.
• New petty cash accounts must be set up through Financial Reporting & Accounting prior to reimbursement.

Additional Information and Resources:

• Access to this payment type is granted through the petty cash set-up process and is only available to the custodian.
• Be sure to indicate “Yes” under the “Separate Payments” ePR field. Also, be sure to select a handling code that prevents the payment from being directly deposited into the employee’s personal account.
• University Policy 3-011—Petty Cash Funds
• If applicable, review Human Subject Payment Procedure. https://fbs.admin.utah.edu/download/AP/ResearchPartPayments.pdf

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Payment Sections

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For Preparers:

For Approvers:

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