Film Accounting Glossary
Float
What is a float?
Also called petty cash float, or cash advance.
A float is the fixed sum of cash advanced to a department or individual to spend and account for, most often as petty cash.
The float amount stays constant: as receipts are turned in, the float is replenished by exactly the amount spent, which keeps the outstanding balance provable at any moment. Any unaccounted float at wrap becomes a personal receivable from the person holding it.
Example
A department head holds a $2,000 float. They spend $1,340 and submit receipts, and are reimbursed exactly $1,340, restoring the float to $2,000. At any moment the receipts plus the cash in hand must equal $2,000, which is what makes it provable.
Figures are illustrative, chosen to show the mechanics rather than to quote market rates.
Where you'll see it
Petty cash held by department heads and coordinators. Any unaccounted float at wrap becomes a personal receivable from the holder.
Common mistake
Topping up a float without collecting receipts first. The outstanding balance stops being provable, and at wrap the difference is a personal receivable.
Related questions
- How does a petty cash float work?
- A fixed sum is advanced, the holder spends and submits receipts, and is reimbursed exactly what was spent, restoring the float to its original amount.
- What happens to an unaccounted float at wrap?
- It becomes a receivable from the person holding it, which is why floats are capped and reconciled weekly rather than at the end of the show.