Petty cash or cash at hand is defined as a small amount of money set aside to cover for minor expenses in the company without having to write a check. The payment can be used to reimburse staff members for small expenditures that don’t exceed $25.00, such as cab fare, office supplies, postage, etc. This saves time from filing and using up checks. Also, some retailers do not accept credit or debit card purchases for payments below a certain amount. …