Petty Cash Log 40+ Free Templates & Guidelines

Posted February 16, 2024

In the analytical petty cash book, the debit side of the log has only one column whereas all the others are shifted to the right side of the petty cash book. It therefore helps curb wastage of money and ensuring all expenses are accounted for at the close of every accounting period. Such templates for expenditures are used by small enterprises, shops, and even offices to effectively document all expenses incurred while alleviating the burden of financial audits. You will require more columns on the credit side to record all payments and receipts alongside their dates. A debit balance is essential to record the difference of money in the receipts and payments.

student activity funds petty cash log template

Petty cash is a small amount of cash that is used to direct small payments. This Petty Cash Simple Receipt Log Template is ready made and at your disposal. Another voucher is used with a petty cash form template to request the replenishment of petty cash funds.

FREE 8+ Sample Petty Cash Log Templates in PDF MS Word

The record of petty expenses in the petty cash log template and forms has reasons and advantages.
Petty cash logs offer a simple and efficient way to handle minor business expenses.
It helps ensure that all expenses are accurately recorded and tracked.
Petty cash refers to a small amount of money set aside by a business or organization for minor expenses that require immediate payment.

So, the person who looks after the petty cash should be someone everyone trusts. Make sure that the column is enough to mention the date along with the month and year. This way, every time you need to record new data, you will remember to mention when the recording happens. Here is our selection of hand-picked Petty Cash Log templates to assist you in creating your own cash log easily. Before setting up cash logs, it is important to understand the types of cash logs.

Petty cash has several different functions in a business and is primarily used for tracking and monitoring smaller cash expenses. These dates are important because they serve as primary data in recording cash flow. Also, it is helpful if the recorded description of the transaction explains what it was used for, for example office supplies, travel, or repairs. Ideally, petty cash funds are reserved to cover small expenses that will be time-consuming while undergoing the normal disbursement process. Your employees may have the tendency to start spending for the office as this fund is readily available but not relevant to your business.

So a business must successfully create a petty cash system, so the methodologies operate in a specific method and the money is spent on the required items and not on random stuff. Generally, it has two sides, of which the left side is used to record the cash receipt from the main cashier. The right side of the analytical petty cash log is used to record the petty payments. As a rule, we all know that an audit cannot be performed without a petty cash log. Even the smallest businesses usually have such logs for operational monies in constant use, since these documents help keep control over the money spent and do not violate spending limits.

A petty cash log is a well-organized manner to track a small amount of money that is used to purchase small items in a business. The purpose of a petty cash log is to ensure that all petty cash expenses are accurately recorded and tracked. In general, the template of the free petty cash log template is in the form of columns that you can make by using Microsoft Excel. Of course, it is possible also to create it via Word, but it means you need help to calculate it.

Petty Cash Log Templates assist in tracking cash inflows and outflows, maintaining proper documentation, and facilitating the reconciliation of petty cash balances. The simple petty cash log format is identical to the cash book. It is of the same format maintained while recording the cash transactions. Business of all types uses petty cash logs in order to keep proper track of their tiny expenses. It keeps a company or business organization away from nonproductive costs.

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In this article, we will explore what a petty cash log is, why it is important, how to create one, and provide some tips for successful petty cash management. These are the types of petty cash logs used in different cases. Download this editable petty cash log template in MS Word format from the link below. A formal review of the petty Cash Funds is considered to be a petty cash reconciliation. This action aims to check whether there have been any undocumented distributions. Such distributions are a general issue in petty cash, where there is a high chance of misrepresentation.

Many people get confused about the amount of their petty cash float. Having too many can make you excessively rich, you don’t need this additional issue to trouble you. In this way, settle in cash that you can use easily for your common costs and leave a little arrangement for upcoming installments. There are tons of these templates that you can use for daily matters, and you can choose the template that works best for you.

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FREE Petty Cash Log Templates EXCEL & WORD

This system allows only the replenishment of the spending made. State in your petty cash logs any transactions that have occurred and are connected to the petty cash. It’s up to you whether to update your log every week or printable petty cash log template after every transaction so that you don’t forget any detail. Also, it becomes easier for you to match up both documents at the end of every period. Do you need them with sharp edges or adjusted corners to abstain from harming yourself?

One tool that can be used to achieve this is a petty cash log. You will need separate columns assigned to expenses on the credit side in an analytical entry. 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 templates will help you in sorting the difficulties you have been facing all along.

All you have to do is hit the download button and this ready made general templates will help you in sorting the difficulties you have been facing all along.
Some organizations make sure that they have receipts with each petty cash transaction and petty cash log as well.
There are more to this category that will be discovered later in the content.

It includes expenditures such as conveyance, cartage, postage and courier, stationery, general expenses, repair, traveling expenses, Telegram expenses, etc. Initially, petty cash account expenses are insignificant, but the cumulative amount is substantial over time, say a year. Inaccurate accounting of petty cash funds poses a major threat to the company’s financial health.

Make business transactions easier and simpler with professional invoices generated through Vencru. Say goodbye to calculators and get automated updates on paid invoices, pending and overdue. You have the decision between advanced locks battery and biometric locks, yet they will be somewhat more costly. Once you are finished with balancing, you must review the petty cash log computation again.

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a. Setting up a fixed amount of cash for petty items.

Since these columns deal with numbers, they don’t need to be too big. The last two columns are about the amount for the deposited and withdrawn money. Since the columns are related to numbers, it is okay if they are not too big or wide. However, the column should be enlarged if the cash log is less petty than it seems. For the petty cash reconciliation template, the number of columns is added to make anything clearer.

The person responsible for maintaining the petty cash log should request additional funds from the organization’s finance department as needed. The person responsible for maintaining the petty cash log will vary depending on the size and structure of the organization. It may be a designated staff member, an accounting team, or an external bookkeeper. The important thing is to have one person or team who is responsible for maintaining the log and reconciling the petty cash account on a regular basis.