CASHBadillo. Hernaez. Laron. Puyat.

Tubongbanua.

WHAT IS CASH?Unrestricted in

useMust be readily available for the payment of current obligations and not be subject to any restrictions, contractual or otherwise

Kinds of

Cash

A system of money in common use, especially in a nation

A piece of paper money which amount is expended or owedBILLS

CURRENCY

It is an order for the payment of an amount of money, usually issued and payable at a bank or post

office

Metal money that is used primarily as a medium of exchange or legal tender COINS

POSTALMONEYORDER

BILLS

COINS

CURRENCY

POSTAL MONEY ORDER

SPECIAL ITEMS

DEPOSIT

FOREIGN CURRENCY (FOREX)

A kind of bank account that allows money to be deposited and withdrawn

by the account holder

The currency of another country

POST DATED CHECKS

STALE CHECKS

OUTSTANDING CHECKS

It refers to checks which have been written by the drawer for a date in the future

A document that is a promise to pay money that is held for too long before

being presented for payment

Checks which have been written, but have not yet cleared by the bank on which they

were drawn

Cash Equivalents

WHAT IS A CASH EQUIVALENT?

Short-term and highly liquid investments that are acquired three months before maturity can qualify as a cash equivalent

Money instruments that can be readily used as a payment to an obligation

Internal Control

Segregation of Duties

Deposit Cash Collections in Bank

Voucher System

Issue O.R.

Bank Reconciliation

Petty Cash Fund

WHAT IS A PETTY CASH FUND?

It is money set aside to pay small expenses which cannot be paid conveniently by means of check.

Methods of Handling Petty Cash Fund

Imprest Fund System

Fluctuating Fund System

Checks drawn to replenish the fund do not necessarily equal the petty cash disbursement, resulting to the increase and decrease of the

petty cash fund.

Checks drawn to replenish the fund do not necessarily equal the petty cash disbursement, resulting to the increase and decrease of the

petty cash fund.