When a petty cash fund is no longer necessary, department heads or custodians can close the fund by replenishing the fund to its initial amount and depositing the full amount at the Wells Fargo bank.

You must have access to the Petty Cash module in the Expense Requests System to replenish funds to the initial amount of the petty cash fund.

  1. Process outstanding receipts
  2. Reconcile the fund
     
  1. Submit the replenishment request to replenish the full amount of the account in the Expense Requests Petty Cash module (refer to How to: Replenish Petty Cash Fund
  2. Receive replenishment check from Payment Services
  1. Prepare cash and any uncashed replenishment checks for deposit 
  2. Submit a Support Request to notify Cash Management, Office of the Treasurer (OOT) of the closing of the fund
  3. From the Petty Cash Fund Option section, select Close a Petty Cash Fund 
  4. Enter Petty Cash Fund Number
  5. Enter Petty Cash Amount
  6. Select Submit
  7. Obtain a Project, Task, Award and Expenditure (PTAE) to credit with the deposit
    The Financial Support Center provides the Project, Task, Award and Expenditure (PTAE) for the deposit.
  8. Prepare to deposit the fund using Stanford CASHNet, or the Department Transmittal Form
    • Use the account PTAE type provided by the Financial Support Center.
    • Under Explanation of Deposit, indicate “Close Petty Cash Fund # 82XXX”.
  9. Obtain and complete a paper Wells Fargo Deposit Ticket, available at the University Payments Office or at the bank

 

  1. Deposit funds at Wells Fargo bank
  2. Obtain deposit receipt from the bank
  3. Attach a copy of deposit receipt and completed Transmittal Form to the same Support Request submitted in Step 3
  4. Retain original deposit receipt with Petty Cash records
What Happens Next?
  • The OOT closes the petty cash fund and sends a confirmation email to the requesting department that the fund has been closed.

Questions?

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