The best petty cash process is no petty cash process. You read that correctly. It’s 2016 and it is time to say “hasta la vista, baby!” to the petty cash drawer at your restaurants. Purchasing cards, or P-cards, are a type of credit card that allow employees to make controlled purchases of goods and services on behalf of the company.

Purchasing cards can be setup to determine when, where and how much the card is used, greatly reducing the risk of fraud and theft.  Plus, you’ll get access to detailed expense reporting making it possible to code and allocate expenses. You’ll finally get better insight into where your spending happens and why.

Purchasing Cards for Restaurants

09.13.16
Petty Cash Alternatives

Did you know the concept of the petty cash drawer was created all the way back in 1785?


Just kidding. There is no record of when it was created, but that was when the U.S. dollar was created so it can’t be too far off. Did you also know it's 2016 and there are way better options out there besides the prehistoric petty cash drawers in your restaurant?

Let’s start with the problems a petty cash drawer can cause –

  1. Accounting Errors – Let’s face it, you probably don’t have CPA’s working the petty cash drawer at your restaurant. This means that errors in documentation and cash counting are inevitable and will ultimately lead to discrepancies in your reconciliation process. And discrepancies aren’t fun.
  2. Theft – As much as you try to hire trustworthy employees, theft is unfortunately still a common occurrence. The petty cash drawer exposes cash to all of your employees and is impossible to monitor 24 hours a day. Unless you hire a petty cash drawer security guard, but that would be silly.
  3. Inefficient -  Not only do your employees have to take time out of their daily tasks to manage the petty cash drawer but it also become extremely inefficient if you have to make to large purchases, which would then takes time out of your day.

Now that you are convinced your petty cash drawer has got to go, let’s take a look at an alternative - purchasing cards.

Purchasing cards, or P-cards, are a type of credit card that allow employees to make controlled purchases of goods and services on behalf of the company. So instead of a drawer full of dollar bills and quarters, you can have a single card that you authorize your staff to make purchases on.

Plus, purchasing cards can be setup to determine when, where and how much the card is used, greatly reducing the risk of fraud and theft. So when your employees goes out to buy extra milk for the chocolate cake special you’re serving tonight, the card will only work at the grocery store and will only be authorized for the $50 maximum limit you set.

What’s even better, at the end of the month you’ll get access to detailed expense reporting making it simple to code and allocate expenses. You’ll finally get better insight into where your spending happens and why. No more headaches from the errors in reconciliation! You are welcome.

To learn more about how purchasing cards can help your restaurant, fill out a contact form and one of our specialists would be happy to walk you through it.