How do you record a petty cash journal transaction?

Answer by  mikehollon (26)

First you must record the date of transaction, second you must record the amount of transaction, third you must record the reason for the transaction, or persons name of the transaction, last you must balance the journal after each transaction.

Answer by  doglover21 (60)

The most important thing to remember when recording a petty cash journal transaction is to be thorough and provide as much information as possible. At the very least you need to put how much money was spent, where it was spent and what was bought. You may also need to include why it was needed.

Answer by  LisaEicholtz (227)

To write a petty cash journal transaction you have to credit the petty cash and debit the expense where you used the petty cash money. Journal entries are subjective as far as what expense it is used for if you bought office supplies one would credit petty cash and debit office supplies