Petty Cash Log Template | Vencru (2024)

Automatically track cash transactions, and generate cashflow sales reports and other financial statements using Vencru’s bookkeeping software.

A petty cash log is a record-keeping tool used to track small, miscellaneous expenses paid out of a designated petty cash fund. It helps businesses monitor cash disbursem*nts, maintain accurate financial records, and ensure proper allocation of funds.

Suppose a small retail business keeps a petty cash fund for miscellaneous office expenses. At the beginning of the month, the fund is replenished to a set amount, say $100. Here are a few transactions that might be recorded in the petty cash book over the course of a month:

1. Office Supplies: The manager purchases pens and paper for the office costing $15 on the 5th of the month. This transaction is recorded in the petty cash book, noting the date, amount, and nature of the expense.

2. Courier Charges: On the 12th, a parcel needs to be sent to a customer, incurring a courier charge of $10. This expense is also logged in the petty cash book.

3. Refreshments: The business buys coffee and snacks for a staff meeting on the 18th, totaling $20. This is recorded in the petty cash book with all relevant details.

At the end of the month, the remaining cash is counted, and the petty cash book is used to verify that the sum of the remaining cash and the recorded expenditures equals the original amount of $100. The business then replenishes the fund for the next month, based on the expenses logged in the petty cash book, ensuring the fund is back to its original amount.

To post petty cash transactions in your general ledger:

1. Review the petty cash log to ensure all transactions are accurately recorded.
2. Prepare a journal entry to reflect the total petty cash expenditures for the period.
3. Debit the appropriate expense accounts for the total amount of petty cash disbursem*nts.
4. Credit the petty cash account to reduce its balance back to the original amount.

In the example above, at the end of the month, you will

• Debit [Expense Account] $45
• Credit Petty Cash Account $45

Our petty cash log template includes fields to record essential details of each transaction, such as:

• Date: The date the transaction occurred.
• Description: A brief description of the expense.
• Amount: The amount of cash disbursed for the expense.
• Receipt: Whether a receipt or documentation is attached.
• Category: The category or purpose of the expense (e.g., office supplies, postage).
• Initials: Initials of the person responsible for approving the expense.

Using our printable petty cash log template is straightforward:

1. Download the template in your preferred format (Excel, PDF, or Google Docs).
2. Customize the template by adding your business name and logo, if desired.
3. Print multiple copies of the template to keep in your petty cash drawer or store it electronically for digital access.
4. Whenever a petty cash expense occurs, fill out the appropriate fields in the template, including the date, description, amount, receipt status, category, and initials.
5. Periodically reconcile the petty cash log with the remaining cash balance to ensure accuracy and accountability.