FAQ

This page describes common questions on Petty Cash.

Q1. When do we need to transfer monies from Petty Cash Bank Account to Corporate Bank Account?

Answer - For Excursion, the collections are required to be transferred back to Corporate Bank Account. Reason being, the excursion costs and expenses are paid for by the Corporate Bank Account (i.e. Reimbursables).

Q2. For Chinese Readers material costs that Centres are helping parents to purchase, do we need to transfer fund back to Corporate Bank Account?

Answer - No. Reason being, this additional invoice will be paid for using parents' funds. Hence this collection may reside in Petty Cash Bank Account and will be used to pay off the invoice from Vendor. Centre will see a nett zero after collecting and paying for this vendor invoice.

*Please note that the school curriculum Chinese Readers meant for School use are paid by Finance.