In all kinds of businesses, employees would have to handle petty cash at one time or another and it would be very useful to record everything in a petty cash log. It helps in keeping records of cash transactions current and up-to-date because the task of actually recording the transactions is divided, thus made a lot easier. Petty cash book is a type of cash book that is used to record minor regular expenditures such as office teas, bus fares, fuel, newspapers, cleaning, pins, and causal labor etc. The intent of this action is to check if there are any undocumented disbursements. Whether you decide to make a petty cash form or an actual book, the steps would be the same and the outcome would result in how well you manage the whole system. Person completing the form and requesting the petty cash for the Payee. This is because it would only include major transactions so it would be a lot cleaner, clearer and possibly more detailed. Once you have started using the fund, make sure you replenish the cash regularly or as needed. Otherwise you can print out a couple of these forms and bind them to have a physical log of all your transactions. At all times the total of the receipts plus the cash must equal the fund balance. The debit part of your log would only include one column, which would be the cash received from the cashier. Fill in the fields for cash on hand plus vouchers and receipts and subtract the total amount of the petty cash fund to reconcile account. This template includes date, receipt, description, deposits, and withdrawals. Forms & Templates; Sample Letters; Type of Business; Articles; Search; Free Petty Cash Requisition Template: Use this template to create a petty cash requisition the next time you need one. You can place it in a drawer, out of sight but easy for the assigned person to get to. da form 1994, aug 2010. previous editions are obsolete. Petty expenses can also include advance payments to be able to purchase something which is needed immediately. Once you’ve ironed out all the details of the fun, the box and the log, you can start using the money. Any tax paid with these funds will be collected from the payee in a … The petty cash receipt forms are very useful for the organizations, schools, colleges etc. Typically this kind of book or log is created for small payments or transactions which involve small amounts so that everything is recorded, no matter how small. Just because the transactions involved in this system are small, your employees might forget to record them or consciously neglect writing them down, especially if the amount is insignificant. TemplateLab is not a law firm or a substitute for an attorney or law firm. Find a good place to keep your box wherein it is accessible to your staff but your customers cannot see it. I started my career as professional writer about sever and half years ago with an legal consultant firm. Even if you have an office full of trusted employees, leaving any kind of cash out in the open may tempt anyone, whether it’s one of your employees or maybe one of your customers. When your organization has an actual book for petty expenses, all your cashier would have to do is list down everything right after every transaction. File Format. 3. Now that you know the different types of logs and systems which you can employ, you can decide which one would be ideal for your business. After spending value life period, I finally decided to start my own blog where I can post all those forms which you can use in your routine life. Think about starting this system in your own business then you can start creating your own log which will be used by the persons you will assign on a day to day basis. It lessens the amount of work of the head cashier in the business as he/she would not have to be the one to handle the smaller transactions. A petty cash form can be created in your computer and the columns can be filled out there as well. Presented below are the four main types of petty cash log forms that accountants primarily use when recording petty cash transactions. We tried our level best to provide you ready to use and turnkey Petty Cash Forms that you can utilize spontaneously upon downloaded. Also when you do this regularly, you will be able to spot any discrepancies, errors or concerns which you can deal with earlier rather than later. Require Your Employees to Record Everything. However if you find that the amount is not enough for the average daily expenditures, you may have to add the amount each time you replenish your fund. Having this kind of log book would aid in making your main cash book a lot more informative. “On File” is not an acceptable response, even if the payee has been used in the past. In this regard petty cash form is best because it helps you to understand how to prepare a record list for petty cash expenses. Having huge denominations might cause trouble or confusion. The columns in your spreadsheet can include, but won’t necessarily be limited to: A petty cash form can be created in your computer and the columns can be filled out there as well. The head cashier then verifies the statement and pays the total amount based on the receipts of the expenditures to the petty cashier to fill up the amount lost from the fund. The Petty Cash form is used for reimbursements from JHU, depending on the type of reimbursement the form must be sent to the Accounts Payable Shared Service Center or the JHU Treasury Office.