Designation: Deputy Manager Petty cash
1. Create and monitor a system of controls, procedures, and forms for the recordation of Petty cash.
2. Recommend to management any updates to accounting policies related to Petty cash .
3. Assign tag numbers to Petty cash (in co-ordination with Projects team).
4. Record Petty cash acquisitions and dispositions in the accounting system.
5. Track open purchase order, GRN’s and ensure the same is closed in co-ordination with respective departments.
6. Track the compilation of project costs into Petty cash accounts, and close out those accounts once the related projects have been completed.
7. Reconcile the balance in the Petty cash subsidiary ledger to the summary-level account in the general ledger.
8. Calculate depreciation for all Petty cash.
9. Review and update the detailed schedule of Petty cash and accumulated depreciation.
10. Calculate asset retirement obligations for those fixed assets to which AROs (Asset retirement obligation) are applicable.
11. Conduct periodic impairment reviews for intangible assets.
13. Ensure periodic physical counts of Petty cash done by projects teams are updated in system with proper approvals.
14. Recommend to management whether fixed assets should be disposed of.
15. Conduct analyses related to fixed assets as requested by management.
16. Prepare audit schedules relating to Petty cash and assist the auditors in their inquiries.
17. Represent the company during any audits by tax/statutory auditors that involve Petty cash.
18. Track company expenditures for Petty cash in comparison to the capital budget and management authorizations.