Close a Petty Cash Fund
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.
To close a petty cash fund, complete the following steps:
- Complete the "zero voucher" in ARC, which is required with replenishment receipts.
- Gather a cash module receipt with bank deposit confirmation, which is required for cash on hand.
- Complete the Petty Cash Reconciliation Form.
- 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 and/or instructions for how to proceed.
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 web-based training Using the Cash Module.
For transaction instructions, please refer to the job aid Submitting a Voucher in ARC to Close a Petty Cash Account.