Open a Petty Cash Fund

Any department that wishes to establish a petty cash fund must demonstrate a true business need. Follow the steps below to begin the process of opening a petty cash fund.

1. Designate a custodian. Each approved petty cash fund has a custodian who is responsible for managing the fund.
2. The designated custodian must take the required online Petty Cash Training and Custodian Knowledge Assessment before a fund can be set up. 
3. Review the Requirements list from above and gather all required forms and attachments.
4. Fill out a request to open a fund with the correct attached documentation using the petty cash fund request in Service Now. Select Establishment for the Request Type.
5. After filling out basic information and the request type, the request process will ask that you supply unique information about your fund, including but not limited to your reason for establishing the fund, the proposed location, and how you plan to keep the fund secure.
6. Next, you will be asked to supply required documentation. Failure to provide all correct documentation will delay the opening of the fund.
7. Once approvals and central review are completed, you will be notified of the outcome of the requested fund. If approved, you must establish a petty cash vendor profile in ARC.
8. Create a voucher in ARC for the new petty cash profile.
9. Cash the check that establishes the petty cash fund.

Training

Users new to petty cash funds should review the Petty Cash Web-Based Training.

For step-by-step instructions for submitting petty cash requests, visit the Submitting Petty Cash Requests via Service Now Training Guide.

JobAids

Refer to the following job aids for assistance creating a new petty cash fund: 

• Submitting Vouchers in ARC for a New Petty Cash Fund
• Initiating a Vendor/Payee Profile Request in ARC