How to Make Petty Cash Payment Voucher Format in Excel

They must be present in whichever format one chooses for the cash voucher. The purpose of a petty cash fund is to provide business units with sufficient cash to cover minor expenditures. The intent is to simplify the reimbursement of staff members and visitors for small expenses that generally do not Exceed $25.00, such as taxi fares, postage, office supplies, etc. Petty cash is a nominal sum which is preserved in hand to cover minor expenses, such as reimbursements or other office-related expenses.

There are plenty of printable or PDF downloadable documents online to nab. These vouchers are not standalone; they fit into a wider ecosystem of procedure around the petty cash. Since it can be easy to ‘leak’ money through petty cash, most companies set rules around access and acceptable spending reasons. This also helps in optimising your  business’ expense management overall. But petty cash vouchers can help alleviate some of the stress that comes with having a cash system for business expenses.

• Petty Cash is a small amount of cash, small enough to be kept in a petty cash drawer or safe, used to conduct “small” transactions within the scope of your company’s activity.
• In this article, we have created a petty cash voucher template and petty cash log, free for download.
• Read our petty cash guide if you need more advice on setting up a comprehensive petty cash management system.
• There are several petty cash management solutions, like the one offered by Happay.
• If you use accrual accounting, the top-up may be credited from accounts payable instead of cash.

Receipts or other documentation justifying the disbursement should be attached to the petty cash voucher. A petty cash system is a way for businesses to pay for small, everyday expenses. This system involves setting aside a small amount of money from the company’s bank account to cover costs like coffee, postage stamps, or stationery. Petty Cash voucher templates are available in various formats and types.

You need to make a quick cash purchase for your organization but don’t have the time or resources to go through the standard expense reporting process. Petty cash is a small amount of money organizations keep for minor expenses like office supplies. However, petty cash can quickly become a hassle without proper management, leading to financial mismanagement. A petty cashier might be assigned to issue the check to fund the petty cash drawer and make the appropriate accounting entries.

Understanding Petty Cash

But it can be helpful to keep paper slips too, along with receipts from the purchases or payments (if possible). Typically, petty cash accounts are reimbursed at a fixed time period. Many small businesses will do this monthly, which ensures that the expenses are recognized within the proper accounting period. In the event that all of the cash in the account is used before the end of the established time period, it can be replenished in the same way at any time more cash is needed. If the petty cash account often needs to be replenished before the end of the accounting period, management may decide to increase the cash balance in the account.

• They must be present in whichever format one chooses for the cash voucher.
• Once you set the conditions for your subscription, you can choose one of Jotform’s PDF receipt templates to attach to your payment form and customize it to meet your needs.
• Metrics refer to the type of information collected for each transaction.

By subtracting the original amount by the total of all petty cash receipts, you should have the same amount of cash as what is left in your fund. This should work whether your business operates with an open, fixed or imprest system for petty cash. In the general accounting practice, petty cash vouchers are used to verify whether the amount of money in the petty cash tin is correct. With tons of petty cash voucher examples online, you can make them as simple or complex as you need. For example, some petty cash vouchers involve bank account details (such as an account number) when petty cash is not in a physical cash state. Fortunately, it doesn’t take an Excel master to create a good petty cash receipt.

Petty Cash Accounting Records

In other words, petty cash funds are readily available but not usually accessible. Recording cash transactions and maintaining Petty Cash is definitely a vital task for every organization no matter how big or small they are in volume. Usually, small to medium scale businesses required it more crucially than the large businesses that already have most of their transactions on record (bank or journal). Here is a good quality Petty Cash Voucher Template that can help anyone to quickly creative an effective means to receive cash from different sources. This Petty Cash Voucher Template is prepared in MS Excel so that anyone can easily use it and even fill it up while opened in MS Excel and then send directly for printing. This includes cash sales, receipt of funds from a bank loan, payments from customer accounts, and the sale of assets.

Related Documents

To maintain internal controls, managers can use a petty cash receipt (Figure 8.5), which tracks the use of the cash and requires a signature from the manager. If you are recording money withdrawn from the bank, you will need to reduce the bank balance and increase your petty cash balance. These transactions will automatically be completed for you with some good bookkeeping software. It is important to regularly reconcile the petty cash box to ensure that no money is missing and that all vouchers are correct. Business owners should have procedures to ensure employees know how to handle small expenses.

What Is A Petty Cash Voucher? With Pictures (

For this reason, companies typically establish a petty cash fund that needs to be replenished every two to four weeks. When an employee withdraws cash from the petty cash fund to make a purchase or cover an is there a difference between ein and tax id number expense, they typically provide a petty cash receipt to document the transaction. It indicates the date of issue, the employee’s or recipient’s name, amount, type of purchase, and the custodian’s signature.

Other details such as the name of the recipient, designation and phone number of the recipient are also mentioned. ExcelDemy is a place where you can learn Excel, and get solutions to your Excel & Excel VBA-related problems, Data Analysis with Excel, etc. We provide tips, how to guide, provide online training, and also provide Excel solutions to your business problems. A voucher is a bond of the redeemable transaction type which is worth a certain monetary value and which may be spent only for specific reasons or on specific goods. Allocate enough space for describing the purpose of the expense and any additional details. Most businesses aren’t quite ready to completely give up cash, and that’s OK.

This cash can be used for buying office stationary, paying for travelling expense or just to pay for the pizza when the office staff is staying late in for work. When someone in the office is paid with the petty cash, they are asked to give a slip as a proof of receiving the cash and this slip is called the Petty Cash Voucher. When there’s a discrepancy between the amount inside the petty cash fund and the total amount listed on petty cash slips, it’s clear that there has been an error somewhere along the way. This way you can still operate a petty cash fund even when your team is remote or you work with an automated spend management system. Yes, Jotform has over 30 receipt templates to choose from — and many of them are industry- specific. Simply choose a template that aligns with your requirements and personalize it to suit your needs.

Depending on the organization, other senior-level staff members may also be involved in the process. The individual responsible for approving vouchers must be familiar with the organization’s petty cash policies and procedures to replenish new funds. They eliminate discrepancies and enable easy and accurate reconciliation of petty cash funds. A petty cash voucher typically includes details like the date, the amount of money spent, the reason for the expenditure, and the signature of the person authorizing the expenditure. The English word “petty” derives from the French petit, which means “small” or “little.” Likewise, “petty” means minor or insignificant. On the downside, the convenience of petty cash can also make it a problem, and a risk.

A restaurant receipt is a document that shows the food and drink that was ordered in an organized manner.Use this Free Restaurant Receipt Template if you own or manage a restaurant, diner, and bar. This stylish receipt template has the customer information, receipt number, date, time, ordered items, and the total amount of payment. A good Hotel Receipt displays the hotel information and the hotel services purchased by the customer. The receipt number is generated automatically by the Unique ID widget.