Petty Cash FAQs

1. Do I need to send my receipts along with Petty Cash Replenishment form?
2. How can I open a Petty Cash Fund?
3. Can I increase my Petty Cash Fund?
4. How do I replenish Petty Cash funds?
5. What should Petty Cash funds be used for?
6. Can I change custodians?
7. How many custodians can you have linked to one fund?

1. Do I need to send my receipts along with Petty Cash Replenishment form?

No ­ all receipts are reviewed within the department and should be filed in the department for reference or in the case of an audit.

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2. How can I open a Petty Cash Fund?

A letter requesting the opening of a Petty Cash Fund, which includes the custodian’s name, tub, org, sample of the custodian signature, Harvard I.D number and mailing address must be provided to Accounts Payable.

Requests must come directly from the Financial dean’s office.

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3. Can I increase my Petty Cash Fund?

Yes. Submit a letter to accounts payable on department letterhead requesting to have fund amount Increased. The letter should include the tub number, name of fund and dollar value and be signed by the appropriate Financial Dean How do I close a Petty Cash Account?

To close an account the department should submit a Petty Cash settlement log for any receipts along with any remaining cash to Accounts Payable. The AP Customer Service center will complete all necessary entries and forward a receipt for cash to the department.

Requests must come directly from the Financial dean’s office.

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4. How do I replenish Petty Cash funds?

The Custodian can request replenishment using web voucher. For complete instructions click here.

Requests must come directly from the Financial dean’s office.

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5. What should Petty Cash funds be used for?

The purpose of a petty cash fund is to provide business units with sufficient Cash to cover minor expenditures. The intent is to simplify the reimbursement of staff members and visitors for small expenses that generally do not Exceed $25.00, such as taxi fares, postage, office supplies, etc.

Whenever possible, local units should use the Pcard instead of petty cash.

Petty Cash custodians are responsible for safeguarding petty cash funds and Maintaining receipts and detailed records to support all transactions.

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6. Can I change custodians?

Yes. The Financial Dean must prepare a letter on department letterhead requesting the change in of custodian. The letter should identify the name of the current and name of the new custodian, new custodian’s Harvard I.D. Number, sample signatures and the telephone number of the primary or secondary custodian.

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7. How many custodians can you have linked to one fund?

You can have two (2) custodians authorized by the Financial Dean to manage one fund. However, the check can only be issued to one of the two custodians when replenishment is requested.

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