Petty cash, like the name suggests, is a minor sum of money, which is kept close at hand for the daily transactions and expenses by some business or organization. As far as small transactions are concerned, businesses personnel find it more easy and comfortable paying readily with cash, rather than writing and giving a cheque.
Many businesses have petty cash on hand for different minimal expenditures that require immediate reimbursement. It is handy, and it can be a deductible business expenses. In cases where unplanned and unexpected expenses arise, the amount of money set aside for similar purposes becomes quite useful.
Companies are also advised to keep a detailed record of all the petty cash amount that is spent here and there, because in the end, all the amount adds up to a considerable sum of money. Therefore, it is important to keep track of it through commonly used petty cash records. These form act as receipts for keeping testimony of small transactions involving petty cash, and will allow you to keep track of important information including the dollar amount, the person involved and the date. All business expense receipts are recorded in the proper manner in the accounts department, to be recalled whenever required.
For this purpose, we have this petty cash template shown below. You can easily manage your company’s petty cash using this template. It includes different fields like date, receipt, description, deposits, and withdrawals. Our petty cash template will make it easier to record transactions, which can then be added to your accounts.
Here is the preview of this Free Petty Cash Template,
Here is the preview of Free Petty Cash Receipt Template,