Petty cash is typically a small physical stash of cash set aside for employee expenses related to “small” amounts. There’s no set cutoff of what is defined as small, but generally it’s accepted as transactions with dollar amounts too small for invoicing or transactions with amounts where it’s still considered reasonable to pay with hard cash - think $200 and less. Petty cash transactions vary from mundane costs like buying postage, coffee for a meeting, or a box of pens.

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