Petty Cash Procedure Template Word
The Petty Cash Procedure Template Word is a comprehensive document that outlines the procedures for managing petty cash in an organization. This template is designed to help businesses establish a clear and concise process for handling petty cash transactions, ensuring that all expenses are properly recorded and accounted for.
The Petty Cash Procedure Template Word includes step-by-step instructions for setting up a petty cash fund, including guidelines for determining the amount of cash to be kept on hand and how to replenish the fund when it runs low. The template also provides guidance on how to record petty cash transactions, including the use of receipts and other documentation to support expenses.
With the Petty Cash Procedure Template Word, businesses can ensure that their petty cash transactions are properly managed and accounted for, reducing the risk of errors and fraud. The template is easy to customize to meet the specific needs of your organization, and can be used as a standalone document or as part of a larger financial management system.
Whether you are a small business owner or a financial manager in a larger organization, the Petty Cash Procedure Template Word is an essential tool for ensuring that your petty cash transactions are properly managed and accounted for. With its clear and concise instructions, this template can help you establish a robust petty cash management system that will save you time and money in the long run.
Petty Cash Procedure
The Petty Cash Procedure helps outline the disbursement and reimbursement of petty cash. To facilitate minor business expenses, a petty cash fund will be available to employees. This procedure applies to all employees of the company. (6 pages, 586 words)
The Cashier will maintain control of the cash box, Petty Cash Journal, and all petty cash transactions. At the end of each month, or whenever the Petty Cash fund drops below a balance of $20.00, the Cashier will complete a Check Request for reimbursement of cash. The Controller and Cashier should meet periodically (e.g., quarterly) to review Petty Cash disbursements and reimbursements against planned (budgeted) figures, as well as discuss discrepancies and the reasons for them.
Petty Cash Responsibilities:
The Cashier maintains control of the cash box, petty cash journal, and all petty cash transactions.
The Controller audits the cash box, petty cash journal, and all petty cash transactions paperwork submitted to resolve any discrepancies found.
Petty Cash Procedure Activities
- Petty Cash Fund Control
- Petty Cash Draws
- Petty Cash Replenishment
- Petty Cash Review