Solution of Journal Voucher relating to Petty cash Fund (SEE) 2077/2021
a. 2077-09-03 Issued a cheque for reimbursement of
following petty expenses made from petty cash fund:
Taxi fare Rs. 195 Tea and coke Rs. 225 Telephone charges Rs. 200
Postal tickets Rs. 90
b. 2077-09-05 A cheque was issued for reimbursement of
following petty expenses made from petty cash fund:
Refreshment Rs. 220 Email charges Rs. 120 Wages for repair Rs. 250
Tea and coke Rs. 180
c. 2077-09-08 Issued a cheque for reimbursement of
following petty expenses made from petty cash fund:
Bus fare Rs. 150 Newspaper Rs. 50 Electricity charges Rs. 260
Postal stamps Rs. 240
d. 2077-09-19 The following expenses are submitted by the
Petty Cashier for reimbursement:
Water supply charges
Rs. 200 Refreshment Rs. 260 Medical treatment Rs. 300
Repair expenses Rs. 190
Required: Journal
Vouchers
Solution:
Government of Nepal AGF No. 10
……………Office/Department/Ministry J. V. No. 01
Journal Voucher Date: 2077-09-03
|
Code
No |
Particulars |
LF |
B.H.No. |
Debit
Rs. |
Credit
Rs. |
|
|
Dr.
B.E. Travelling expenses Dr.
B.E. Miscellaneous expense Dr.
B.E. Communication charges Dr.
B.E. Communication charges Cr.
Nepal Rastra Bank (Being
petty cash expenses reimbursed through cheque) |
|
22612 22711 22112 22112 |
195 225 200 90 |
710
|
|
710 |
710 |
Receipt No. Cheque
No.
Received amount: Cheque
Amount: Seven hundred ten rupees
Submitted by: ABC Approved by: XYZ
Post: Accountant Approved
by: Office Chief/Office head
Date: 2077-09-03 Date:
2077-09-03
Government of Nepal AGF No. 10
……………Office/Department/Ministry J. V. No. 02
Journal Voucher Date: 2077-09-05
|
Code
No |
Particulars |
LF |
B.H.No. |
Debit
Rs. |
Credit
Rs. |
|
|
Dr.
B.E. Miscellaneous expense Dr.
B.E. Communication charges Dr.
B.E. Repair and Maintenance Dr.
B.E. Miscellaneous expense Cr.
Nepal Rastra Bank (Being
petty cash expenses reimbursed through cheque) |
|
22711 22112 22212 22711 |
220 120 250 180 |
770
|
|
770 |
770 |
Receipt No. Cheque
No.
Received amount: Cheque
Amount: Seven hundred seventy rupees
Submitted by: ABC Approved by: XYZ
Post: Accountant Approved
by: Office Chief/Office head
Date: 2077-09-05 Date:
2077-09-05
Government
of Nepal AGF No. 10
……………Office/Department/Ministry J. V. No. 02
Journal Voucher Date: 2077-09-08
|
Code
No |
Particulars |
LF |
B.H.No. |
Debit
Rs. |
Credit
Rs. |
|
|
Dr.
B.E. Communication charges Dr.
B.E. Travelling expense Dr.
B.E. Communication charges Dr.
B.E. Water and electricity Cr.
Nepal Rastra Bank (Being
petty cash expenses reimbursed through cheque) |
|
22112 22612 22112 22112 |
240 150 250 260 |
700
|
|
700 |
700 |
Receipt No. Cheque
No.
Received amount: Cheque
Amount: Seven hundred rupees
Submitted by: ABC Approved by: XYZ
Post: Accountant Approved
by: Office Chief/Office head
Date: 2077-09-08 Date:
2077-09-08
Government of Nepal AGF No. 10
……………Office/Department/Ministry J. V. No. 04
Journal Voucher Date: 2077-09-19
|
Code
No |
Particulars |
LF |
B.H.No. |
Debit
Rs. |
Credit
Rs. |
|
|
Dr.
B.E. Water and electricity Dr.
B.E. Miscellaneous expense Dr.
B.E. Medical treatment expense Dr.
B.E. Repair and maintenance Cr.
Nepal Rastra Bank (Being
petty cash expenses reimbursed through cheque) |
|
22111 22711 21123 22212 |
200 260 300 190 |
850
|
|
850 |
850 |
Receipt No. Cheque
No.
Received amount: Cheque
Amount: Eight hundred fifty rupees
Submitted by: ABC Approved by: XYZ
Post: Accountant Approved
by: Office Chief/Office head
Date: 2077-09-19 Date:
2077-09-19
2. Define petty cash fund.
Explain the importance of petty cash fund.
Ans. Petty cash is the
amount of cash set aside to meet the expenses of small amount. The petty cash
book is a book used for recording petty payments. In offices of Government of
Nepal, a specific fund is created for small amount of payments which is known
as petty cash fund. \
Importance of Petty
Cash Fund
The following are the
importance of petty cash fund:
a. Minimizes the workload: Petty cash fund minimizes the burden of office. The responsibility to
maintain a petty cash fund account is entrusted to the petty cashier. S/He makes
payment of small expenditures that minimizes the workload of chief cashier.
b. Maintains control
over small payments: Petty cashier has to record the amount of expenses on Cash
Payment Slips along with the signature of the payee. This will be the primary
document of evidence to maintain the record in the petty cash book. Besides, Cash
Payment Slip must be maintained in
chronological order. It helps to maintain strong control over small payments of
office.
c. Convenient for
small payments: Petty cash fund makes it convenient to make payments of small
expenses. In practice, it is very inconvenient to issue cheques for these payments both from a cost and time point of view. Besides, the bank can’t be made obliged to
for such payments. Hence, it saves time for the Chief Cashier and expenses of an
office.
d. Brings
systematization in accounting: The new accounting system has developed various
forms and statements to regulate the operation of petty cash. Some forms used
in offices are Cash payment slip, cash reimbursement demand form, and cash
control statement. The appropriate use of these forms and statements
facilitates to bring a distinct system in the accounting procedures of the office.
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