Petty cash is a small amount of cash that is held for minor expenditures.

Part of most accounting systems, the 'petty cash' account typically holds between $200 and $500, though for larger organizations or those that frequently make bigger ad hoc cash purchases the amount can be higher.

The advent of micro-lending in Australia means that even 'petty cash' amounts can be borrowed from online or peer-to-peer lenders.

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Manage Petty Cash in Xero | What is a petty cash fund?