We allow the managers to have a small petty cash account. Each manager is taught how to track the expenses in this account through Rent Manager and is responsible for inputting journal transactions each time they use the money and uploading the receipt.
The typical items they use this money for are things like paying pest control to do a one time treatment, buying paper and printer cartridges, buying staging materials for showing a home, etc. Mostly things that are less than $100.
For anything else, our approval is required and we handle paying the vendor. At the end of every month, we bring the account balance for the petty cash up to it’s original amount, usually $250-$500.