Petty cash is a small amount of money that is used in business for small payments. A petty cash template is used to track the important transaction of your organization. You can load a Soldo card with as much or as little cash as you want, just as you would with a petty cash box. The difference is that you can set up an automatic top up. And, because there’s no physical cash involved, it’s safer, more practical, and healthier too. An imprest Petty cash log allows you to keep your petty cash at a fixed level.
You may also see printable mileage log examples. If you are running a business that has employees, you will have to decide who will have access to your petty cash and be responsible for keeping the log. If more than one person will have access, you will need a system for recording who is responsible for which transaction. You can keep a record of this by adding a column to your log for the employee’s name. A petty cash log significantly reduces the risk of fraud. It makes it easy to track who took the cash and for what purpose.
It covers all your basic needs and even if you want to add something, you can customize them also. If you are worried about making a petty cash log that is going to take a lot of time and effort, no need to worry anymore. Let us take care of it with this printable petty cash log template. This particular printable template is completely editable and the best thing is that you can print this document anywhere and anytime without any issues. So get it now before its too late and start editing the content as per your wishes. You can also see more on Cash Flow Analysis in PDF Format.
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.
Petty Cash Log Template
There are additional columns to include a check amount and check number for recording deposits into the petty cash account. A manual log is a simple paper-based record of petty cash transactions. This type of log is suitable for small organizations with a limited number of transactions. The petty cash float is just a fancy name for the amount of money you choose to put inside your cash box.
The spreadsheet includes areas to document cash withdrawals, checks written from the account, purpose of the expense and deposit information. This petty cash log form in Microsoft Excel format can be used to track deposits and withdrawals from a basic petty cash account. This type of petty cash log only records small amounts. Having too much might also make your members too lavish in their spending, you don’t want that added hassle to think about. So settle on a cash float that you think is sufficient for your periodical expenses and leave a little allowance for unexpected payments. You might be interested in reference sheet examples.
Importance of Having a Petty Cash Log
The total amount of costs incurred must never exceed the total amount given by the head cashier. Since you now know the preparations needed to be done in acquiring a cash log account, let’s proceed to discussing what you need to do to maintain it. Even if it only holds a small amount of money, petty cash logs still need to be updated on a regular basis, especially if it has been used on that day. This is probably one of the most important aspects of having a petty cash account that you should see to. You can use a small book you can personalize for it, or download any of the templates we have attached along with this article.
By following these steps, you can ensure that your petty cash is well-organized and accounted for, and that you have a clear and accurate record of all petty cash expenses. Use pre-numbered receipts for all petty cash transactions to provide a clear and auditable trail of all expenditures. Limit access to the petty cash fund to authorized personnel to reduce the risk of theft, fraud, or mismanagement. Determine the appropriate amount of petty cash to set aside based on the frequency and size of the expenses that will be incurred. Be mindful of the need to keep the fund balanced, so that there is enough cash on hand to cover expenses as they arise.
Prayer Log Template
So, that’s where the Petty Cash Log templates, Travel Log Template come in and save your energy and time. Downloading these is a huge relief for all small bookkeepers. Petty Cash is a relatively minute amount of cash kept at hand in a company to resolve immediate expenses of a lesser amount. Are you finding it difficult to keep track of your petty cash transactions? This Petty Cash Log Layout Template will assist you in the proper management of your petty cash. All you have to do is hit the download button and this ready made general template will help you in sorting the difficulties you have been facing all along.
Here are even more reasons why it’s important and how to keep track of petty cash. When you need to keep a petty cash log, it is important to understand that you do have choices when it comes to creating it. You can use a written log, a computer software program specifically designed for recording petty cash transactions, or even just a computer spreadsheet to create your log. If you decide to use a computer option for recording petty cash, however, it is typically critical that you back up your files on a regular basis. If you do not remember to do this, you might have a difficult time figuring out how you spent petty cash and proving your expenditures if your computer system crashes.
Our Petty Cash Log To Record Small Office Expenses are topically designed to provide an attractive backdrop to any subject. Etsy is no longer supporting older versions of your web browser in order to ensure that user data remains secure. With this in mind, you’ll want to keep it in a locked cupboard or drawer. And make sure the person in charge of the box keeps the key safe.
Steps to Make a Petty Cash Log
Each time the cash register is finished, the capable individual will compute the money and ensure it coordinates the last balance in the report. If you go with the second option, make sure the person assigned is available to every individual who might need to use the petty cash. A formal review of the petty Cash Funds is considered to be a petty cash reconciliation.
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. Keeping track of petty cash transactions is essential for ensuring the proper management of financial resources, maintaining accountability and preventing fraud or mismanagement.
What Do I Need the Petty Cash Log Template For?
Do you need them with sharp edges or adjusted corners to abstain from harming yourself? There are additional boxes as books to bamboozle any potential criminal. You can likewise observe instances of the preparation for the petty cash log sheet. Here we share a list of petty cash logs which is printable and downloadable too. The lowdown on how to manage your petty cash and keep an accurate petty cash log, plus a free petty cash template to get you started.
- This person can act as gatekeeper and make sure the log is up-to-date and accurate.
- You may also see printable mileage log examples.
- In every business, there exists a petty cash account that tracks physical cash to make small payments.
- Petty cash vouchers are basically a printed template that you can fill out with the details of your petty cash account.
- Petty Cash Log Templates assist in tracking cash inflows and outflows, maintaining proper documentation, and facilitating the reconciliation of petty cash balances.
It will help you to analyze your business and improve its productivity. Need to customize this Petty Cash Log template? Jotform Tables’ user-friendly interface makes it easy to add preset column types, use formulas to instantly calculate totals, or change row names and color-coded labels for a personalized touch.