10 Pro Petty Cash Tips

January 3, 2018

Tired of coming short on your petty cash?

I created my petty cash hacks and video tutorials, so you can master your petty cash recap and ALWAYS get reimbursed for every penny!

After 20-years as a finance executive I have heard m,any horror stories you can imagine from crew getting burned by accounting. The process is a mess and outdated. They don’t like PC and neither do you. Let me share just one of the stories that inspired me help you hack your petty cash.

My 10 pro tips and tutorials, will teach you how to make sure your receipts will clear accounting and help get you reimbursed for every penny.

  1. When using a vendor that does not have the name of their business at the top of their receipt, get a business card or have them stamp the company name at the top. PC Hack: a bank endorsement stamp with the company’s name will do just fine.
  2. If the script calls for alcohol, cigarettes, or OTC drugs, have the clerk ring them up on a separate receipt and submit them on an envelope with other booz etc receipts. If the items need approval by an executive only these receipts will be delayed not the entire envelope.
  3. The paper you get from most cash register receipts is thermal paper and over time it will fade, turn yellow or the writing will disappear altogether. This vanishing ink can happen in as little as 6 months and WILL be gone entirely in a few short years.
  4. When you turn in your PC to the office, MAKE SURE you get a receipt for the PC you just handed in AND make sure you copy the envelope, plus its contents, before you hand it over or slip it under the door of accounting.
  5. Get prior approval from the UPM or accountant to shop at a flea market where you will likely get flaky or no receipts.
  6. MOST IMPORTANTLY NEVER PAY FOR LABOR, RENTALS OR A DEPOSIT WITH CASH. Many producers will stiff you for the cash if you can’t get it back.
  7. Don’t use pen on the parts of the receipts you want to see later. The ink will make the thermal paper turn black and it spreads like a fresh tattoo in sea water.
  8. Highlighter does not help make your receipts more readable. Over a few weeks the ink turns black and obscures the detail below and will make your receipt invalid.
  9. Keep your receipts as flat as possible and not all crumbled up in the bottom of your bag or in your pocket, where they might get damp from a spilled drink or swamp ass on hot day.
  10. Wherever you put tape, even clear tape, on a receipt – if the tape is touching any of the print, the thermal ink will fade within a few weeks to the point where the ink will go away entirely.

You can download the full list here – PC Cheat Sheet