Sample Request Letter for Petty Cash Fund

It takes a bit of knowledge and attention to write a sample request letter for petty cash correctly. It should contain the user’s ID, date of birth, work data and other personal information. These requirements may slightly differ depending on the bank you apply to.

In his/her letter, the user must explain the reasons why he/she needs to open an account. The letter must be approved by the Imprest management team. Once approved, your account will be opened and you will actually have a bank account that feeds your petty cash account.

In order to withdraw cash from your account, you need to submit a letter of request, using a sample letter of Request for the Release of Funds, to your local Imprest office and specify your account ID. It is imperative that you strictly abide by the policies regulating the amount of cash withdrawn via the Imprest service. Most banks allow users to withdraw up to $500. For instance, if you have a $100 account (the maximal petty cash sum), you must finish the current month with this sum, regardless of how much you have spent. This scheme is more suitable for people making small purchases.

Deposits are not allowed until the user’s current receipts are replenished. Each and every transaction must be supplied with an invoice. The invoice must be marked as ‘paid’, and the date of payment must be specified. Contracts should be compiled and signed in strict accordance with the local legislation and bank policies. Checks must be signed by two persons.

Users are required to provide checking account reports on a monthly basis, and they should include the summary of their expenditures. This is a kind of Imprest anti-fraud policy, which guarantees minimum possibility of losses. You can read more about writing request letters and find a sample letter for the Request to Open a Bank Account and Imprest policy guidelines on the company’s official website.

If you need to make an office purchase, you should write a letter of request using a sample letter of Request for Office Supplies and start an account using the Imprest service. In this case, users must follow the requirements similar to those relating to opening a petty cash account. Any enterprise or organization can take advantage of this service, and it is increasingly popular among various educational institutions, administrative and governmental bodies, business agencies, etc.

It is a common thing, when needs are changed; therefore, you will have an excellent opportunity to change your account according to your personal needs or business requirements. To apply for account changes, you should write a special form explaining why you need to upgrade/degrade your account. In a case whereby a custodian has to be changed, the user must follow the signed agreement and submit a request explaining why such a change needs to be made.

In a case whereby you do not need the fund any more, you can close your account. Before closing, the user must replenish all his/her payments and make a sum-up report. This report should be made within 10 days before the end of the month. Then the user receives a replenishment check and sends an account closure request to the General Accounting Office.

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