Petty cash or petty flow of cash is a small quantity of cash that is spent without issuing any checks. The petty cash amount varies from company to company. It includes the general ledger of the current assets. And the current asset comprises cash, cash equivalent, account receivable, stock inventory, etc. This flow of cash is controlled by the petty cash voucher for each payment that is made. The cash amount shall be recorded in the company’s general account.
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5-Steps to Create the Petty Cash Register
Step 1: To Create a Petty Cash Account
Firstly, you should create a petty cash account which is more like the bank account. In order to set up the petty cash account, you should navigate the chart of the accounts that is available online. It includes the account type, detail type, name, description, etc
Step 2: To Record the Petty Cash
You should record the petty cash flow amount in the register or journal that you have made to do the entries every time you make any kind of transactions. Enter the date, payee, expense category, memo, payment, etc.
Step 3: To Replenish the Petty Cash Account
In order to replenish the petty cash account, you must show and record the transaction between your business account and the petty cash account.
Step 4: Create the Journal Entries to Record All the Cash Transaction
You must enter all the transaction entries like the cash withdrawal and the deposit into the account so that you can keep the check on it and use it in the annual account calculation.
Step 5: Enter the Detail of How the Cash Fund was Spent
You have to put every detail of how you utilized the cash in the journal entry. Because you should take care of the cash outflow. As you have to answer the officials regarding the cash spent.
5+ Petty Cash Register Templates in PDF | XLS
1. Petty Cash Register Template
In a particular company or organization, there are many big and small expenses. Out of which the petty cash is the small amount spent on the company stuff. This cash outflow should be registered in the official journal or the register which shall be used later in the annual accounting and so for this, you shall download the template of the petty cash register for the proper entry of your company’s cash outflow detail. It is the document template that is available in excel sheet format which will be easy to make entries on it
2. Petty Cash Fund Register Template
When you are engaged with a company or an organization there are few small expenses that you do for the company itself. And these expenses should be kept a record of it for the annual accounting and tax valuation. The petty cash fund register template should be downloaded by you to keep the track record of the cash outflow or the amount that is spent from the petty cash account. When you download it, it will act as the petty cash receipt for you. Download it now!
3. Simple Petty Cash Register Template
Reconciliation of the petty cash would verify that the balance of the fund is correct. When the balance of the account is less than the predicted balance than there is a shortage of cash. How can you know about the petty cash account balance? It shall be known to you when you download the Simple petty cash register where you can record the petty cash transaction on it and it records the break down of the cash spent. It is the kind of cash invoice for the further record of your company.
4. Petty Cash Transaction Register Template
When you spent money from the company’s account you have to be more conscious of recording the details appropriately in the register so that when you will be asked then you can show them the documents. The petty cash form or register shall add on the details along with the small breakdowns of the amount spent. The cash transaction will be added in the template which you shall download for your convenience and ease in doing accounts.
5. Petty Cash Register Change Form Template
When you think of the small amount of money which can be issued without writing a check, then it is called the petty check which is usually used by the organization or company. This cash is used to make small spending on the company itself. Hence, you will need a register to insert the details such as the name, the amount paid, the amount received, signature, etc. These details are available in the petty cash receipt register form template. So without wasting your time, you must download this form.
6. Petty Cash Register Example
When you conduct any event then you make a budget for everything but sometimes the expenses get out of the budget and the extra amount is spent from your pocket. And for this situation, you need a template of the petty cash register and cash voucher in which you write the expenses in detail. You should immediately download it keeping in mind the benefits that it shall give you. A lot of positive sides can be seen in this template of the petty cash register.