What is the main purpose of maintaining petty cash in a business?

Maintaining petty cash in a business primarily serves the purpose of covering small, miscellaneous expenses that arise in day-to-day operations. These expenses can include items like office supplies, small travel costs, or minor repairs that are not significant enough to justify writing a check or using a credit card.

Having petty cash readily available allows for quick and easy access to funds without the formality of a more extensive approval process, which is particularly beneficial for immediate needs or unforeseen costs. This convenience enhances operational efficiency and helps keep business running smoothly without unnecessary delays.

The other options mentioned do not align with the core function of petty cash; for example, large purchases typically require more formal payment methods and documentation. Payroll expenses involve systematic processing through accounting systems, while storing emergency funds relates to financial reserves rather than petty cash management.