What is petty cash in SAP SBO - SAP Business One?

SAP Term: petty cash

• Component: SBO

• Component Name: SAP Business One

• Description: A small cash fund kept in a business to make small payments.

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• Key Concepts: 
  Petty cash is a type of cash fund used to pay for small, miscellaneous expenses. It is typically used in businesses to pay for items that are too small to be paid for with a check or credit card. Petty cash is usually kept in a locked box or drawer and is managed by a designated person. 
  
  How to use it: 
  In SAP Business One, petty cash is managed through the Cash Management module. This module allows users to set up and manage petty cash accounts, as well as track and reconcile transactions. Users can also set up rules for how much money can be withdrawn from the petty cash account at any given time. 
  
  Tips & Tricks: 
  It is important to keep track of all transactions made with petty cash, as this will help ensure that the account is properly managed and reconciled. Additionally, it is important to set up rules for how much money can be withdrawn from the account at any given time, as this will help prevent overspending. 
  
  Related Information: 
  For more information on how to use the Cash Management module in SAP Business One, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_BUSINESS_ONE/9.3/en-US/f8d7f2b6a7c14e8a9f3d2b5f1e4d7c2a.html