This is physical money that is held at a company’s premises to cover small expenses. The records of transactions using the petty cash is kept in the petty cash book. These are added to the accounts at the end of the week/month.
Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms and jargon, and explain them in Plain English. Its very easy to comprehend. Learn to understanding and know your business jargon. This will keep you informed among your peers. Bookmark Your business dictionary.