Petty Cash Log for Small Business

Petty cash tends to be a helpful way to cover a business’s small expenses. If there is no proper documentation, then the company’s petty cash program may be abused and mismanaged. To be able to manage petty cash properly, one needs to give a petty cash form that is for each use. All transactions also need to be recorded within a petty cash log.

What is a petty cash log template?

This is a document which a company and business can use to record any small amounts of cash which they spend carefully. This includes things like for reimbursing some employee for purchasing office supplies, paying for food, company meetings, as well as other miscellaneous expenses which need payment in cash.

What to Include in the template?

If you need to make a small business petty cash log template, you can consider the below points:

  • Microsoft Excel– Use Microsoft Excel to make this in. This is because it has the necessary details for the petty cash log to be created.
  • Name of the company– Fill in the name of your company at the top. This will let all readers know which company it is for.
  • Heading– After the company name will be the heading “Petty Cash Log.” A heading is a very important part of any document as it lets it look professional. It also allows people to know what the document is for.
  • Dates for when the petty cash log is for– This is a necessary detail as it needs to be known for when the document is for. Fill in from which date till which date it is for.
  • Balance– After this will be the “Balance” heading. This will have your balance stated in numbers.
  • Date– In the given table, the first column will be for filling in the date that the petty cash transaction occurred.
  • Receipt Number– It is important to note the receipt number as well.
  • Description– To let you know what the petty cash was used for, there will be a description column. Here you will briefly state what the money was for, like “Burgers for overtime workers” etc. Make this short.
  • Amount Deposited and Amount Withdrawn– These will be the next two columns. State the figures carefully.
  • Charged to– This will be the next column. It will include whether it was charged as petty cash, morale account, etc.
  • It is received by– State the person’s name who it was received by, here.
  • Approved by– Here, you will also type the person’s name.
  • Total– At the bottom will be the total of figures at the top that need calculating.

Advantages of the template:

The advantages of a small business petty cash log template are:

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  • Allows a company to have valid information on where petty cash was used.
  • Helps mismanagement to be reduced when it comes to petty cash employment.

Final Words:

A small business petty cash log template is important for a small business if they do not want their petty cash use to be abused.

Preview

Petty cash log template for small business

Format: MS Excel 2007/+
File Size: 80 KB

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