In this Post you will know about petty cash template excel.When a person as a business to care of, I’m sure there are many major aspects that have to be dealt with precisely to avoid any complications in the future, but that does not mean that you have to ignore the small things that go into a business. The small details are just as important as the major ones.
One of those small details to take care of is the petty cash. And as I said before, minor details are very important, so to keep track of all the petty cash, you would require a receipt. And instead of making that receipt all by yourself, we offer you this petty cash template excel that you are going to appreciate very much.
But before we go into detail about the template I would like to explain a bit more about pretty cash.
What is Petty Cash?
Petty cash, just as the name suggests, is the small amount of money kept aside on hand to pay for the expenses that are way too minor to have a proper check be written for them. These include small supplies, relatively inexpensive material, and money you can use for reimbursements.
Petty cash is actually very convenient when you cannot be bothered to write a proper check, because it is usually associated with the small transactions. It would not be very efficient and sensible to write up a check for a small transaction because of the inconveniences such as writing it down, the cost that comes with it, signing it, and then cashing the check you have written, not to mention the amount of time that would be wasted doing all of that. You may also like Cash Payment Receipt Template.
Petty Cash Template Excel
The cash that companies consider petty or small is different for them. It varies from $30 to $500. This is just an approximation, it can get amount larger or smaller than the said number. Template for Petty Cash Log can be used for office supplies, small decoration material, food, reimbursing an employee etc. You may Also Like Cash Flow Forecast Template.
Template for Petty Cash Log
So to summarize it, petty cash is a small reserve of money kept on hand to do the smaller task that require small amount of cash.
But in addition to all of that, we must not forget that it is still part of a business, so everything has to preferably be set down in writing. Including the petty cash. That is exactly why you require a receipt. That is where the Petty Cash Reconciliation Template comes in.
Petty Cash Reconciliation Template
What this Petty Cash Template Excel Offers
You have to keep track of the money taken out of the petty cash reserve, it inevitably requires a receipt. To make that easier, appoint someone as the petty cash custodian, and make sure this person gives receipts to everyone who has taken money out form the petty cash reserve, which will allow the person in charge to make sure the money, is used only when necessary. you may also like Deposit Slip Template for Quickbooks.
Making receipt for such a particular purpose is a relatively hard task, so to help you with that we are offering you here a petty cash excel template. This template holds everything you require; the amount of money you have, the name of the person using the money etc. And it is absolutely free! You may also like Projected Income Statement