Petty cash disbursements for expenses should be reported daily in the

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Petty cash disbursements should be recorded in an auxiliary record, such as a petty cash log or voucher system, to track and control expenses. This record will later be used to reconcile the petty cash fund with the company's accounting system. Recording it in the journal or ledger may not give the necessary details or clarity needed for auditing purposes. Not recording it at all will result in the lack of control and accountability over the expenses made from the petty cash fund.

Petty Cash Disbursements for Expenses Should Be Reported Daily in the