Revised:  03/02/2019

Replenishing the Petty Cash Accounts

Overview

Petty cash custodians create a voucher in OAKS FIN as needed for replenishment of petty cash. However, a minimum of one replenishment is done each fiscal year to record expenses in the correct time period.

• OBM recommends replenishing when two thirds of the balance is used.

Reconciliation of the fund shall be made at the time a reimbursement request is prepared.

A petty cash replenishment voucher must be supported by all of the supplier's itemized invoices or receipts, showing the supplier's name, address, receipt of payment, description of item, and date. Additional support may be required for certain purchases.

Steps

Replenishment is done using the following steps:

1. Reconcile the authorized amount of the account to the current account balance before each replenishment voucher is created. This is to ensure an accurate amount is replenished. The full authorized amount of the account should equal the sum of the following:
   • Checkbook Balance (if applicable)
   • Cash on hand
   • Outstanding advances
   • Receipts not yet vouchered
   • Vouchers in transit
   • Uncashed replenishment warrants

   • Advance of Petty Cash Funds Form (Form Number 4511)

2. If an overage or shortage exists, the agency determines the cause(s) and corrects the error.

   • Overage: Return the overage to the fund from which it was drawn through the OAKS FIN Regular Deposit/Direct Journal method. Use revenue account code "450570" for miscellaneous overages. Interest earned creates an overage. Deposit interest at least once each fiscal year to the GRF fund, use revenue account code "456001" for interest overages.

   • Shortage: If agency cannot determine the cause, the final responsibility remains with the custodian. This may result in replacing the shortage with personal funds if no other solution to recover the shortage is found. If theft is suspected see the Handling Unauthorized Use of Petty Cash Topic.

   • In balance:  Attach the supplier receipts, invoices or other documentation (for which the disbursements were made) to the Petty Cash Reimbursement Form (Form Number 0315). The form indicates:

   • • Upper Section – Information to identify the Agency, OAKS FIN Supplier ID for the Petty Cash Account, total to be reimbursed, etc.

     • Center Section – OAKS FIN chartfield coding for the voucher. Multiple receipts can be included on a single coding line. See the chart below for petty cash account expense codes.

     • Lower section – A list of the attached documents for each disbursement made from the petty cash account. This indicates:

     • • A number written on the receipt to reference it to the Agency Petty Cash Replenishment form,

       • the date disbursed,

       • how the disbursement was made (cash or check),

       • if the disbursement was a reimbursement (Y) or a direct payment to the supplier (N). A Yes response will allow sales tax to be included in the voucher amount,

       • the Person’s name (if reimbursed) or the Supplier’s name (if paid direct) receiving the disbursement,

       • a description of the item purchased,

       • the total dollar amount of the disbursement.

3. The replenishment voucher is submitted to invoices@ohio.gov by OBM Shared Services participating  agencies or created directly in OAKS FIN by other agencies, with a copy of the receipts or invoices, Agency Petty Cash Replenishment form, and other supporting documentation attached. Use the supplier ID assigned when the account is established. The supplier ID will be between 0000000001-0000000500 or 0000000505-0000000515.

4. Use the following account codes to identify specific types of expenses for petty cash accounts:

   • OAKS FIN Expense Account Code	Description
     529050	PETTY CASH REPLENISHMENTS
     529051	PETTY CASH LOST/STOLEN
     595057	PETTY CASH FUND NEW/INCREASE

5. For the Invoice Date, Invoice Received Date, Last Receipt Date in the OAKS FIN voucher, use the date the voucher was entered.

   • Petty cash Supplier IDs are used on Petty Cash Replenishment Vouchers ONLY. Petty cash Supplier IDs are NOT used on requisitions, purchase orders or vouchers, except petty cash replenishments to the same  petty cash account.