Petty Cash Control and Accounting Course (Online / Remote)
1Summary
Petty cash looks harmless precisely because the amounts are small – which is exactly why it's one of the easiest places for errors, leakage, or misuse to go unnoticed inside an organisation. This training programme from the Arab British Fellowship Training Academy is built around that risk.
Participants work through the full cycle of petty cash handling – from setting up and documenting the fund to reconciling it and correcting errors – while building the internal-control mindset needed to protect it, and getting hands-on with the modern systems used to track expenses accurately.
2Objectives and target group
Who Should Attend?
- Accountants and finance staff responsible for recording and monitoring daily cash spend.
- Petty cash custodians and treasury staff who manage and reconcile the fund.
- Internal audit and financial control professionals reviewing payments and reconciliations.
- Finance and admin staff looking to sharpen their petty cash management and accounting skills.
Knowledge and Benefits:
By the end of the programme, participants will be able to:
- Explain the basic principles of petty cash accounting and cash fund procedures.
- Record and account for petty cash expenses following approved procedures.
- Manage petty cash funds, supporting documents, reconciliations, and cash counts.
- Apply control and reconciliation procedures to catch variances and errors.
- Use modern financial tools and systems to improve the accuracy and efficiency of expense monitoring.
3Course Content
- Module 1: Petty Cash Risk and Internal Control Principles
- Why petty cash needs strong controls despite its small amounts.
- Segregation of duties between payment, recording, review, and monitoring.
- Common petty cash expenses and their use within organisations.
- Module 2: Setting Up and Managing the Fund
- The role and responsibilities of the petty cash custodian.
- Establishing the fund, setting its limit, and controlling its use.
- Payment and replenishment procedures under financial policy.
- Module 3: Documentation and Payment Procedures
- Supporting documents required for petty cash expenditure and their approval.
- Payment request, authorisation, and transaction recording procedures.
- Verifying document accuracy and completeness.
- Module 4: Recording and Classifying Transactions
- Recording petty cash transactions in accounting books and records.
- Classifying expenses and assigning them to the right accounts.
- Reconciliations and accounting entries related to the fund.
- Module 5: Cash Counts, Reconciliation, and Adjustments
- Periodic and surprise petty cash counts.
- Reconciling physical cash balances with records and supporting documents.
- Identifying variances and processing the accounting adjustments they require.
- Module 6: Errors, Irregularities, and Audit Review
- Common errors in recording and processing petty cash expenses.
- Indicators of irregular transactions and improper use of the fund.
- The role of internal audit in reviewing petty cash transactions, documents, entries, and approvals.
- Module 7: Technology and Continuous Improvement
- Using accounting systems to record and monitor petty cash expenditure.
- How automation reduces errors and speeds up payment and reconciliation.
- Evaluating existing procedures and developing clearer policies and controls over time.