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Eceipts PETTY CASH JOURNAL ENTRY Date: Date: Date: Loose Coins Total Cash on Hand Amount Requested .

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Petty cash custodians should reconcile a petty cash fund at least once a month to ensure that the total cash on hand plus total receipts not yet submitted for replenishment, petty cash replenishment requests in process and any uncashed replenishment checks equal the original amount of the petty cash fund.

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.

The petty cash reconciliation process starts by counting up the amount of cash on hand at the end of the financial period and using this as the ending balance for the petty cash account. Next, receipts are reviewed and verified as appropriate and complete.

How to reconcile petty cash Ascertain the float. ... Count the cash. ... Add up the recorded transactions (via vouchers and the log). ... Categorize disbursements. ... Identify and investigate the differences between vouchers and the expected balance. ... Record transactions in your general ledger. ... Replenish the float for next month.

In accounting, cash reconciliation is the process of matching internal ledger entries to bank statements. The main goal of reconciling your cash is to ensure that the recorded balance of your business and the recorded balance of the bank statement match up.

Investigate any differences between the stated amount of the petty cash fund and the actual total of cash and vouchers. If the difference is unexplained, complete a voucher stating the unexplained amount, and charge it to a predetermined departmental account in the general ledger.

What is Petty Cash Reconciliation? Petty cash reconciliation is the process of verifying transactions involving petty cash funds. Its purpose is to ensure that funds are being used appropriately. It is an important internal control for fraud prevention.

How to reconcile petty cash Find out the float amount. The first step is to find out the original float amount. ... Count the remaining cash. ... Calculate transaction total. ... Petty cash calculation. ... Investigate any discrepancies. ... Categorise payments in the log book. ... Record expenses in the general ledger. ... Replenish that float.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232