Petty cash log: Petty Cash Log Template Printable Petty Cash Form
According to cashier.rice.edu, petty cash funds help pay for the little expenses that are not necessarily part of the initial budget that the company has proposed for things like toiletries and office supplies. When recording petty cash expenses, you must have the petty cash log be balanced. The balancing of the petty cash computations must be done at the end of every month. A Petty Cash Log Sheet template is an important document for anyone who needs to record their financial information. It is widely used in business when you need to track the money paid for some small services or goods. You can use a Petty Cash Log free template to keep track of a little sum of money you keep on the premises in the container.
The document allows listing all the cash you receive from clients if you work without an electronic register. You might need to use the template to calculate the money if you work on different fairs and don’t have enough time to go back to your office. Another option is to check your employees and ask them to provide this list for the store and fill it out every day with the cash that clients paid with.
Step 3: Prioritize Balancing the Petty Cash Computations
To learn more about how to use a petty cash fund, check out the Accounting Coach website. Public collections can be seen by the public, including other shoppers, and may show up in recommendations and other places. The form is provided in a Microsoft Excel and automatically calculates the balance for you.
- There are instances when cashier uses petty cash as a change for customers who pay money, and the money that the customer paid to the cashier instantly goes into the petty cash funds.
- This type must have a debit and credit side like all other petty cash logs.
- A business uses a petty cash account for tracking physical cash used to make small payments.
- You can use a Petty Cash Log free template to keep track of a little sum of money you keep on the premises in the container.
The spreadsheet includes areas to document cash withdrawals, checks written from the account, purpose of the expense and deposit information. Free printable petty cash register is a Microsoft Excel XLS spreadsheet that is designed to be printed out or used as a template electronically. You must never forget to save a copy on your desktop as a backup in case something terrible happens to the printed petty cash logs.
FREE 9+ Petty Cash Log Samples in PDF MS Word Excel
In this type, the head cashier would provide a specific amount of money to the petty cashier to cover any expenses that will soon be incurred by the company. When the costs have been committed, the petty cashier will list them all and submit an itemized summary of the costs to the head cashier. The total amount of costs incurred must never exceed the total amount given by the head cashier. This type is the most basic type of petty cash log among all the other types. In a simple petty cash log, you only have to create a column for the amount and another column for the date.
When the day has ended, the cashier may calculate and compute the remaining money. At the end of the reporting period or when the petty cash log is filled up, the custodian in charge of the cash will count the money and compare to the ending balance on the form. Differences are resolved and a new cash log is created with a new balance for the new reporting period. The custodian will likely be entering transactions into whatever accounting software he/she is using, and may require an employee to complete a voucher and submit receipts. The petty cash log provides a physical paper-based record of the cash-in and cash-out. To customize a petty cash form for your business, download the free template below.
What Do I Need the Petty Cash Log Template For?
If you want to customize a form, you can download the Excel template listed above. Once you are finished with balancing, you must review the petty cash log computation again. The petty cash log might be balanced, and you might just have thought it was balanced. Here are a few tips on how to do petty cash documentation so you can properly manage the funds and the expenses well. This form can be used electronically or printed off to be filled out by hand.
- This form can be used electronically or printed off to be filled out by hand.
- The document allows listing all the cash you receive from clients if you work without an electronic register.
- You might need to use the template to calculate the money if you work on different fairs and don’t have enough time to go back to your office.
Many business owners keep the register of money the company receives in cash. Moreover, you can easily track withdrawals, deposits, and even receipts from the services provided. This type of petty cash log dedicates a column for every heading in your credit side of the form while on the debit side of the file, you must only dedicate one column, which is the cash received from the cashier. There are additional columns to include a check amount and check number for recording deposits into the petty cash account. This petty cash log form in Microsoft Excel format can be used to track deposits and withdrawals from a basic petty cash account. The petty cash template provides columns for tracking cash amounts, check numbers, purpose, deposit and balance.
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A business uses a petty cash account for tracking physical cash used to make small payments. The cash can be kept in a small safe or locked file cabinet, perhaps in an manila envelope. Petty cash is often used for meeting refreshments, reimbursing an employee for office supplies she purchased, or other miscellaneous expenses that require payments in cash or coin. A petty cash log can be taped to the envelope or stored with the cash so that whenever you remove or add cash you can use the form to record the date, payee, purpose, and amount. As there are various uses for petty cash funds, there are also different types of balance sheets that log in petty cash transactions. Presented below are the four main types of petty cash log forms that accountants primarily use when recording petty cash transactions.
Companies and organizations use petty cash for things like office supplies, toiletries, condiments, coffee, and sugar. There are instances when cashier uses petty cash as a change for customers who pay money, and the money that the customer paid to the cashier instantly goes into the petty cash funds. Petty cash is a small number of funds that the company keeps in a safe location.
Petty Cash Sample Log
Out of three petty cash logs that we have presented above, you must choose only one. You must select one that you deem is easy to understand but also detailed when summarizing the expenses incurred. Make a procedure and policy regarding the management of the petty cash funds. Determine how much you will allot for the petty cash funds, and you must tell the one in charge that he must give receipts for every transaction. This printable PDF provides a simple way to keep track of your petty cash with a printable form.
Petty Cash Log Sample Form
This type of petty cash log contains various columns for amounts of money that you must keep track of daily. This type must have a debit and credit side like all other petty cash logs. On the debit side, the amount of money received from the cashier will be placed here. The company’s sample expenses must be categorized in chronological order. At the end of the log, you must add the total amount of the expenses incurred with the use of the petty cash funds. This type of petty cash log is similar to a columnar petty cash log, where it also has a lot of columns on the credit part and only one column in the debit side.