Friday, 9 March 2012

Petty Cash Account

Having to work with two different currencies (AUD and USD) is proving a bit of a nightmare of accounting.    The solution we've come up with is to run a small petty cash account, where we take a chunk of money out of the donations account and transfer it across as cash to use.  This means we only have to deal with the one currency conversion and allows smaller one off donations and materials purchases to occur easily.  Cambodia is strictly a cash only economy.  We will post a reconciliation of that account below:

Petty Cash Spreadsheet

and here's a link to copies of the matching receipts


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