What is the maximum amount allowed for any single transaction in the Petty Cash Fund?

The maximum amount allowed for any single transaction in the Petty Cash Fund is $100. This limit is typically set to ensure that petty cash is used for minor expenses and to maintain better control over cash management within the organization. By capping individual transactions, the fund can be effectively monitored, reducing the risk of misappropriation and ensuring accountability.

In the context of petty cash, adhering to such limits helps in maintaining proper financial discipline and also simplifies the reconciliation process when reviewing expenditures. This practice is common in many organizations to facilitate small purchases without the need for extensive paperwork while still keeping mechanisms in place to prevent misuse.