Close a Petty Cash Fund
Learn how to close a Petty Cash Fund at Columbia University.
Details
The custodian of a petty cash fund must close the fund immediately if the purpose for which the fund was established ends or changes significantly. When a custodian's employment by the University ends, the fund must be closed or a new custodian must be appointed.
Required Documentation
- A petty cash fund request in ServiceNow
- Petty Cash Reconciliation Form (signed by the custodian)
- Cash module receipt with bank deposit confirmation (required for cash on hand)
- the AP Zero Voucher (Only required for receipts-on-hands);
To close a petty cash fund, complete the following steps:
- Complete the Petty Cash Reconciliation Form.
- For Receipts on Hand only, please complete the "Zero Voucher" in CU Marketplace. A “Zero Voucher” is a voucher with two lines. One line with a negative balance for 11990, and the second line with a positive balance debiting the expense natural account and chartstring. The net amount of the voucher should be zero. Remember all Zero Vouchers require Controller’s Office Central Approval in CU Marketplace.
- For Cash on Hand only, please deposit all cash using FFE Cash Module procedures. Please refer to the Available Resource session for the related job aids. Gather the cash module receipt with bank deposit confirmation and please submit with ServiceNow request.
- Navigate to the petty cash fund request in ServiceNow and provide the basic information.
- Next select Close Fund in the Request Type and respond to the fund closure questions that follow.
- You will be asked to provide attachments of the above Requirements documentation.
- After approvals and central review are completed, you will be notified via ServiceNow with confirmation of the petty cash fund closure.
Training
For guidance on how to close petty cash fund, review the Submitting Petty Cash Fund Requests via ServiceNow Training Guide.
For guidance on how to process cash and check deposit transactions in FFE, refer to the following resources:
- Making Cash and Check Deposits (including using the FFE Cash Module) on the Morningside Campus
- Morningside (MS) Departmental Cash and Check Deposits FAQ
- CUIMC Departmental Cash and Check Deposits FAQ
Job Aids
For transaction instructions, please refer to the job aid Submitting a Petty Cash Closure Voucher in the CU Marketplace (Job Aid)