Film Accounting Glossary
Petty cash envelope
What is a petty cash envelope?
Also called PC envelope, or petty cash log.
A petty cash envelope is the physical or digital packet in which a crew member accounts for a float: an itemized log listing each receipt with its account code, the receipts themselves, and the reconciliation to cash remaining.
It is the audit trail for money that had no purchase order. Envelopes that arrive at wrap unreconciled are the single most common source of unsupported cost on an incentive claim.
Example
An envelope holds an itemized log of 23 receipts with account codes, the receipts themselves, and a reconciliation to the cash remaining. Arrive at wrap with four envelopes unreconciled and that is unsupported cost on the incentive claim.
Figures are illustrative, chosen to show the mechanics rather than to quote market rates.
Where you'll see it
The audit trail for money that never had a purchase order. Reconciled weekly, not at wrap.
Common mistake
Handing in envelopes at wrap. Unreconciled envelopes become unsupported cost on the incentive claim, and by then the receipts are often gone.
Related questions
- What goes in a petty cash envelope?
- An itemized log of each receipt with its account code, the receipts themselves, and a reconciliation to the cash remaining in the float.
- Why do petty cash envelopes matter at audit?
- Because they are the only audit trail for money that never had a purchase order. Without them the spend cannot be evidenced or claimed.