Petty Cash Solution(Imprest System)

[Muhammad Shah]

Hello Gals/Guys,

If somebody is kind enough to send me a solution for Petty cash(Imprest system).In Oracl Financials Applications.

I shall be much obliged

[SIVAKUMAR_G]

Hi

There are three ways of Handling Petty Cash in Oracle Financials

From Payables Module
a) Create a Supplier as Petty Cash and create a Prepayment
invoice amount for 250 USD and pay the amount

Whenever he pays off against that amount and collect invoices
from sundry suppliers ask him to create invoices in the name
of Petty cash Supplier and apply against Prepayment

From Receivables Module
b) Create a Receipt calss and Payment method with clearance method Direct called Petty Cash
Use Miscellaneous Cash Receipt Functionality to book Cash transfer
from Normal Cash to Petty Cash Account

Book all your expenses as Negative Miscellaneous receipt by creating
as many receivables activities as you need

You need to create a Customized report to know the balances

c) From General Ledger
Create Journals in GL for Both Receipts and Payments and enter the
details in Description. In this case also you need to create a
Customized Report for Petty Cash

Hope this helps

Regards
Sivakumar

[Muhammad Shah]

Dear Sivakumar,

Thanks you very much for your reply. Hope It'll help to solve the matter.

Muhammad Shah

[shaikjohnpasha]

Hi Muhammad,

Another alternative is to define a Dummy Bank master and make all the Petty Cash or cash transactions thru this Dummy Bank.


Thanks and Regards,
John Pasha Shaik