What is PETTY CASH ACCOUNT?

An account kept to manage the money that will be used for miscellaneous purchases. Petty cash accounts are maintained to keep a proper check on the finances that have been utilized.

More On This Topic



Link to This Definition
Did you find this definition of PETTY CASH ACCOUNT helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary