Who should have custody of petty cash in company?

Custody of petty cash in a company should ideally be assigned to a trusted employee, typically in the finance or administrative department, who is responsible for managing and tracking the funds. This individual should have clear guidelines for usage, along with a system for documenting transactions to ensure accountability. Regular audits and reconciliations should be conducted to prevent misuse and maintain financial integrity. It's also advisable to have a secondary approval process for larger petty cash disbursements.