"Petty Cash Reconciliation Form"

What Is a Petty Cash Reconciliation Form?

A Petty Cash Reconciliation Form is an internal inspection of all petty cash transactions that allows the business to find the difference between the declared amount in the petty cash fund and the actual amount of all retained vouchers.

All business-related expenses must be considered, authorized, and properly managed with the help of the Petty Cash Reconciliation spreadsheet to avoid any irregularities in your records. Perform a petty cash reconciliation regularly to detect missed operations and transactions and make sure you always have petty cash for employees who have to pay for the taxi, bus fares, coffees, and parking tickets.

You can download a Petty Cash Reconciliation template through the link below. Whether your business is small or you handle petty cash for a large company, you will also benefit from these forms:

  • Petty Cash Policy. Create a rulebook for the petty cash fund custodian and employees who will request disbursement after spending money for company-related expenditures - this document will establish requirements for the withdrawals and subsequent petty cash reconciliation;
  • Petty Cash Voucher. This simple receipt must be filled out every time the employee withdraws money from the petty cash fund to pay for small operations on behalf of the entity.
ADVERTISEMENT

How to Do Petty Cash Reconciliation?

To reconcile petty cash, you should take the following steps:

  1. Count the amount of cash you have at your disposal at the end of the reporting period - this will be the ending balance for your petty cash fund.
  2. Review all vouchers you have collected from employees. You must confirm all documentation is complete. Without accurate records, it will be challenging to remember every cash withdrawal you made, especially if you compose monthly reports and reconcile cash infrequently.
  3. Log every receipt that represents a withdrawal from the fund. The balance has to be equal to the amount at the beginning of the reporting period minus the sum of all withdrawals.
  4. Once you have tracked and documented all withdrawals and the balance checks out, you can restore the cash fund to the level established by the internal policy. Do not forget to record where that money came from and certainly do not refill the fund from your own pocket.
  5. If you see a discrepancy or error, even if it seems incidental or insignificant, you need to investigate it. Examine all vouchers again and question every employee who had access to the fund. Look over the calendar entries and remember your recent interactions to figure out where you have made the mistake. See if any vouchers are missing and talk to employees to try to find undocumented reimbursements.
  6. If you discovered fraudulent actions, you will have to take major steps to prevent it from occurring in the future.
ADVERTISEMENT

Download "Petty Cash Reconciliation Form"

416 times
Rate (4.3 / 5) 21 votes
Petty Cash Reconciliation Form
_______________________________________
_______________________________________
Department
Month
Description
Quantity
Amount
Total Petty Cash Counted:
Paid Vouchers Counted:
Total Petty Cash and Paid Vouchers:
Total Authorized Petty Cash Float:
Difference:
Comments
_______________________________________
_______________________________________
Prepared By
Date
© ​
T EMPLATEROLLER.COM
Petty Cash Reconciliation Form
_______________________________________
_______________________________________
Department
Month
Description
Quantity
Amount
Total Petty Cash Counted:
Paid Vouchers Counted:
Total Petty Cash and Paid Vouchers:
Total Authorized Petty Cash Float:
Difference:
Comments
_______________________________________
_______________________________________
Prepared By
Date
© ​
T EMPLATEROLLER.COM