Question

You oversee the $250 petty cash for your company. When an employee needs a special item that is not in inventory, you take money from petty cash to purchase that item.

One day, you are short on cash for lunch. You decide to borrow $10 each day for the next 3 days until payday for a total of $30 from petty cash. After payday, you do not have enough to repay petty cash, so you decide to record a cash short/over expense of $30.

Since this is the first time you have ever done this, is this a problem? If so, what steps should be taken to fix this problem? If not, why not?

Answer 1

ANSWER

1. Indeed, this is an issue, regardless of, if its the first run through or a 100th time.
2. You are not assume to charge your own costs to the organization costs.
3. So as to beat such issue, you should answer to your prevalent of such mis-direct, you can request some an opportunity to reimburse the costs back to the record, or have a compensation cut in your next payday, or any such course of action conceivable.
4. It your obligation illuminate your boss, with the goal that he knows about any such apportionment's done in the record.

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