Petty cash form

Your petty cash form should include the date, expense amount, purpose, recipient name, authorizing signature, receipt number, and expense category. Including these details creates a proper audit trail and helps with expense categorization during reconciliation. For maximum accountability, also document the opening balance, closing balance, and replenishment amounts.

Start by determining an appropriate float amount based on your weekly needs—typically $100-300 for small businesses. Withdraw this amount from your main account, complete the “opening balance” section of the form, and store the cash securely with the form. Also, assign a trusted custodian responsible for disbursements and documentation using the template for each transaction.

Reconcile your petty cash at least weekly, before replenishing the fund, or when cash reaches about 20% of your starting balance. Regular reconciliation helps identify discrepancies early, ensures accurate financial records, and maintains accountability. The template makes this process straightforward by tracking running balances that should match your physical cash count.

Create a simple process where employees must complete the form and attach receipts before receiving cash. Train staff on proper documentation requirements and why they matter. The template’s structured format guides users through required information, reducing errors. Consider implementing a policy where incomplete documentation results in delayed reimbursement until proper records are provided.