petty cash definition
A current asset account that represents an amount of cash for making small disbursements for postage due, supplies, etc.
A current asset account that represents an amount of cash for making small disbursements for postage due, supplies, etc.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.