What Is a Petty Cash Voucher or Slip?

A petty cash fund is a small fund whose purpose is to make small disbursements of cash. 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. Fortunately, it doesn’t take an Excel master to create a good petty cash receipt. There are plenty of printable or PDF downloadable documents online to nab. A petty cash voucher is usually filled out before purchase, so an employee can be credited with the exact cash amount to go and buy what they need.

• Find petty cash voucher template online and keep record of all your petty cash expenses.
• A petty cash voucher is a form used to document a disbursement (payment) from a petty cash fund.
• Every receipt must contain the voucher number that is very helpful in maintaining a proper and sequenced record of the expenditures.
• Some organizations use a separate cash register for the petty cash, and others just track the transactions on ordinary receipts or invoices.
• In the case of Word, you can simply frame the template with underlines or insert a table to complete the template.
• Petty cash vouchers are also referred to as petty cash receipts and can be purchased from office supply stores.

Petty Cash Voucher Template

With the help of these voucher templates, one can record petty cash expenses very easily. With a petty cash fund in place, you can pay for small expenses like postage stamps, office supplies, office food and petty cash voucher drinks, fuel expenses, parking tickets, and other unpredictable expenses. Any expense that’s too small to write a check for can be paid with cash from the petty cash fund. Note that it’s a good idea to set a maximum dollar amount for allowable expenses. Notice that the appropriate expense accounts are debited and that cash is credited. There is no need to make an entry to the petty cash account because it still shows a balance of $100.

Sample Accounting

All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. Here you will see the Name and Designation of the Person receiving cash payment. It is also wise to record his/her contact and address information as well. Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own.

• To accomplish the reimbursement, the treasurer’s office provides the requested amount (by check or currency) to the custodian.
• The entry to record the reimbursement would debit the expense accounts reported by the custodian.
• This cash can be used to buy office stationery, pay for travel expenses, or just pay for pizza when the office staff is staying late for work.
• She also regularly writes about business for various consumer publications.
• 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.

Related forms

However, the petty cash custodian may perform weekly or daily reconciliation to keep track of the fund balance. Using a cash count sheet can be used to document the cash count, but it’s optional. The petty cash custodian also must ensure that there is a petty cash voucher for every expense paid from the petty cash fund.

The petty cash voucher template that specifies details about the petty cash expenditures can be drafted in word doc or PDF or on Excel. While you draft the voucher on Excel, you will be filling in all the details into rows and columns. In the case of Word, you can simply frame the template with underlines or insert a table to complete the template.

Accounting for Petty Cash Vouchers

So, while the slip itself isn’t a receipt, it is typically accompanied by one. A petty cash fund is established by transferring a specified amount of cash from the general checking account to a person who is given custodial responsibility for the fund. Most companies maintain a petty cash fund balance of anywhere from $100 to $500, but the amount will depend on your petty cash needs. Our policy states that petty cash reimbursements shouldn’t exceed 10% of the fund balance. The petty cash custodian is charged with distributing the cash and collecting receipts for all purchases or any uses of the funds.

How much are you saving for retirement each month?

The journal entry for giving the custodian more cash is a debit to the petty cash fund and a credit to cash. A petty cash fund is a small amount of cash kept on hand to pay for minor expenses, such as office supplies or reimbursements. A petty cash fund will undergo periodic reconciliations, with transactions also recorded on the financial statements. Petty cash funds are the funds assigned in businesses for miscellaneous expenses of the organization. As funds are assigned for these expenses so it becomes important to document all the expenses. So petty cash voucher templates are utilized to record or document all these expenses on petty cash funds.

The voucher also serves as a receipt for the withdrawal, providing a record of the transaction. 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 cash voucher is a document used to record small cash disbursements from a petty cash fund. By completing this information, the voucher provides a clear record of the petty cash transaction for accounting, reconciliation, and auditing purposes.