Post by MS INYOFU (@theconscience)

ACCOUNTING HINT (TODAY)

Mistake: Mixing Main Cash & Petty Cash

Correct: Manage them separately and replenish properly

Example:
Bank funds Main Cash: N500,000
Main Cash funds Petty Cash: N20,000
Stationery N5,000 → Dr Stationery, Cr Petty Cash → balance N15,000
Replenish N5,000 from Main Cash → Petty Cash back to N20,000

Keeps control & accurate reporting

Do you manage petty cash this way?

ACCOUNTING HINT (TODAY) Mistake: Mixing Main Cash & Petty Cash Correct: Manage them separately and...

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