Petty Cash Book Types Example Format

petty cash book format

The petty cashier of John and James Company paid cash for the following expenditures during March 2018. The preservation of this book results in a separate and overall reduction in various petty expenses. Petty cashier encashes the cheque and keeps this money in a box under lock and key termed as a petty cash box.

petty cash book format

For all money transfers in a firm, larger and smaller businesses keep two distinct types of petty cash books. Time wastage minimization under this columnar imprest petty cash book petty expenses are not needed to be posted in the relevant ledger account again and again. Under ordinary system, a lump sum amount of cash is given to the petty cashier. When the whole amount is spent, the petty cashier submits the details of petty expenditures recorded in the petty cash book to the head or chief cashier for review. The particulars column is used to write the details of cash receipts and expenses, while another column is used to write the dates of all debit and credit transactions. The petty cash book is a cash book that records the sum of petty cash receipts from the chief cashier as well as the specifics of petty cash payments made by the petty cashier.

Protect the worksheet

The chief cashier issues a check to the petty bookkeeper when they require cash. They document this cheque in the primary Cash Book’s transactions section. The petty bookkeeper collects money in exchange for the bank’s check and enters the check-in the PCB’s payments column.

  • Like in this petty cashbook, we can

    give a particular color to the cells that do not require a user input (i.e.

    cells with formulas).

  • This is necessary to prevent users from

    deleting or making unnecessary changes to formulas, mistakenly messing with

    formatting, and many more.

  • At the end of the defined period, the cash book is reconciled and petty cash is replenished.
  • Under imprest system, a fixed amount of money known as float is given to the petty cashier to meet petty expenditures for an agreed period which usually consists of a week or month.
  • This way, the head cashier will know where the money is and have better control over all those expenses.

At the end of the reporting period or when the petty cash log is filled up, the custodian in charge of the cash will count the money and compare to the ending balance on the form. Differences are resolved and a new cash log is created how to prepare and analyze a balance sheet with a new balance for the new reporting period. The custodian will likely be entering transactions into whatever accounting software he/she is using, and may require an employee to complete a voucher and submit receipts.

Petty cash systems

But creating the excel template with the required formats can be a complicated task for someone who isn’t used to excel. This article will show you the step-by-step procedures to create a Petty Cash Book Format in Excel. Imprest systemThe word “imprest” means – A fund that a business uses for small expenditures and usually restores to a fixed amount after a period of time. Imprest system refers to paying an advance at the start and reimbursing the amount spent from time to time.

  • On the credit side, a separate column is given for each petty expense.
  • Similar to the Simple Petty Cash Book, the Imprest Cash Book also consists of Petty Cash Summary.
  • To combat this, several businesses are abandoning the outdated bookkeeping methodology.
  • The date, along with the particulars of the item is recorded in chronological order.
  • In addition to this, if the chief cashier has to maintain the sundry expenses in his book, his work increases and becomes hectic.

The petty cash fund reduces for every petty cash receipt kept in the petty cash box. Separate columns are used for each expense in ‘Analytical petty cash book’. The chief cashier records petty cash advances to the petty cashier on the credit side of the cash book as “By Petty Cash A/c”.

Simple Petty Cash Book Format

Petty teller of the John and James Company completes paying the payments of Mar- 2018. In some cases, the amount of expenditure is so small that issuing a cheque for it is quite inconvenient and unnecessary. From now on, I will be working with Microsoft Excel and other useful software, and I’ll upload articles related to them. My current goal is to write technical contents for anybody and everybody that will make the learning process of new software and features a happy journey.

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After exhausting the amount, the petty cash cashier will submit the account for the money and will be given money for the next period. We can perform numerous operations on our datasets using excel tools and features. There are many default Excel Functions that we can use to create formulas. Many educational institutions and business companies use excel files to store valuable data. Almost all business organizations keep their monetary transaction records in excel worksheets.

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