Great Benefits of Petty Cash Log
Petty cash is beneficial for items that a company or business has to buy fast to keep their basic operational running. For petty cash log, you can use it for keeping the running total in the balance which can you can record. You can keep the cash in a small safe or locked file cabinet. You can do this so whenever you add and remove cash you can use a form to record it. Actually, there are various templates for this petty cash. You can download it for free online. Most of them come in a Microsoft Word format, where you can make adjustments to the detail of the cash log. Even though you can use petty cash for some purchases in your business, it also plays important role in the balance at the end of the month.
Other than the important role of petty cash, you can get many other advantages in using it. Some of them include buying meeting meal, daily wages, repairing of office furniture, and many more. It will help you to avoid a great mistake in reimbursement of petty cash from the general account. Another benefit is that it will be helpful to spend money on small cost. Using petty cash though, you have to go to proper steps, because if not it will have a great effect on your financial report. Come to think of it, petty cash template contains a lot of information. Some of the format includes date, receipt number, amount of money, description, charged to, received by, and approved section. There is also total, final balance, cash on hand, difference, petty cash reimbursement, and balance forward.
Petty Cash Log Template Word – download