What is petty cash?

There is no such thing as petty cash in accounting, only petty cash. The reserve fund is the monetary fund that the enterprise keeps in the cashier's hand and is used for daily cash project expenditure. The reserve fund has an approved amount, which shall be approved by the bank where the enterprise opens an account. The petty cash deposited by the enterprise within the approved scope is legal, and the excess should be deposited in the bank in time. If petty cash is stored outside the approved scope and unexpected losses such as theft occur, the cashier will be responsible for the funds outside the approved scope.