A petty cash is the amount of accessible money being stored by a department, an organization, or a company so that they have something to use for payment of small items, reimbursements, and other expenditures that may arise from emergencies and other needs. The entity who uses a petty cash usually selects a custodian to take care of the money so it will be more organized should an employee request for money for a particular purpose.
Before you can make use of the petty cash, you first need to submit a petty cash request form to the custodian so that he/she can check the guidelines given by the company to know whether your request should be approved or not. We can provide you with samples of petty cash request forms so you can familiarize yourself with the items that you should fill if you will be needing to use the petty cash of the entity for future transactions. Moreover, we also have other Sample Forms usable as guides and references for other kinds of forms that you may need to create for other transactions.
Petty Cash Reimbursement Request Form Sample
Petty Cash Request Form in PDF
How Do I Create a Petty Cash Form?
- Define the Purpose: Clearly state the purpose of the petty cash form. This includes managing small expenses that don’t require checks or electronic payments.
- Create a Template: Design a simple form template that can be easily filled out. Include sections for the date, amount, recipient, purpose of the expenditure, and any additional notes.
- Add a Custodian Section: Designate a section for the petty cash custodian who is responsible for managing the petty cash fund. This section should include their name and signature.
- Specify Authorization: Include a section for authorization, where a manager or supervisor approves the petty cash transaction. This helps in maintaining accountability.
- Detail the Transaction: Include fields for detailing the transaction. This should include the date, amount withdrawn, description of the expense, and the person requesting the funds.
- Receipt Attachment: Ensure there is a section or requirement to attach receipts for the expenses. This is crucial for tracking and verifying petty cash expenditures.
- Reimbursement Details: Include a section that indicates when and how the petty cash will be replenished. This typically involves submitting the completed petty cash form along with the corresponding receipts to the finance department.
- Regular Audits: Mention on the form that regular audits will be conducted. This serves as a reminder to maintain accuracy and honesty in reporting petty cash transactions.
Sample Petty Cash/Change Fund Request Form
Petty Cash Float Request Form Example
What is the Rules for Petty Cash?
- Set a Fixed Amount: Determine and maintain a fixed amount for the petty cash fund. This amount should be sufficient to cover small expenses that occur regularly. Once the fund dips below a certain threshold, it should be replenished back to the set amount.
- Designate a Custodian: Assign a responsible employee as the petty cash custodian. This person is in charge of managing the petty cash fund, distributing funds as needed, and ensuring that all transactions are documented accurately.
- Require Receipts for All Expenditures: Insist that for every disbursement made from the petty cash, a receipt must be provided. The receipts should be attached to the petty cash voucher or form, which details the amount, purpose of the expense, and the recipient.
- Regular Reconciliation: Schedule regular intervals (e.g., weekly, monthly) for reconciling the petty cash. The custodian should review the petty cash records, comparing the cash on hand plus receipts to the documented withdrawals to ensure accuracy.
- Limit the Use of Petty Cash: Clearly define what petty cash can and cannot be used for. Typically, it should only be used for minor business expenses. This prevents misuse of the funds for non-approved or personal expenditures.
Petty Cash Box Request Form in Word
Petty Cash Request Form Inclusions
- The name of the person requesting for the use of a particular amount to be taken from the petty cash
- The basic professional information of the petty cash payee or the person who would like to use the petty cash for purposes related to the company’s operations
- The date that the petty cash request form has been filled out
- The requested date of petty cash release
- The reason why the petty cash is needed by the individual
- The exact usage of the petty cash
- The breakdown of the items where the petty cash will be used
- The name of the person who approved the use of the petty cash
Aside from our petty cash request form samples and templates, you may also be interested to browse through and download our samples of Budget Request Forms and Job Request Forms.
Downloadable Petty Cash Request Form
Free Petty Cash Request Form
Petty Cash Establishment/Increase Request Form
Importance of Petty Cash Request Form
- Controlled Disbursements: The form helps ensure that all cash disbursements are controlled and authorized, preventing unauthorized or unnecessary spending.
- Documentation and Record-Keeping: It provides a reliable documentation trail for all transactions, which is essential for accurate record-keeping and financial reporting.
- Simplified Reconciliation: The form makes it easier to reconcile petty cash transactions with the main accounting records, ensuring all cash flows are accounted for properly.
- Transparency: By requiring details of each transaction, the form promotes transparency in how petty cash is used, which can deter misuse of funds.
- Budget Management: Helps in managing the budget allocated to petty cash by keeping track of all expenditures and ensuring they are within the set limits.
- Efficiency in Handling Small Expenses: Streamlines the process of managing small expenses, allowing employees to quickly access funds for minor purchases without going through more complex procurement procedures.
- Audit Trail: Provides an audit trail that can be reviewed by auditors or management to verify the proper use of funds, which is crucial for compliance and governance.
- Prevents Fraud: The structured request and approval process can help prevent fraud and theft, as each transaction requires justifications and approvals before funds are released.
PTA Petty Cash Request Form Example
Downloadable Petty Cash Request Form
Reasons for Petty Cash Request
- There may be an activity that the department needs to do and it is not listed in the items that are included in the funds of the department for a particular period of time.
- The employee has been asked to spend his/her personal money first in providing the needs of a specific business transaction and he/she was advised to just reimburse it from the petty cash.
- There may be an additional item that the department needs to have to continue the processes being done by the department.
- There may be emergencies and instances that may occur where the petty cash will be useful to address the issue.
- Petty cash requests may be used by the department to ask for additional budget for any processes where they may be involved in.
There are still a lot of reasons why a petty cash request form may be filled out. Just make sure that all the items that you will write in there are accurate and that you will use the petty cash accordingly should your request for its usage be approved. Other than our downloadable samples of petty cash request forms, our templates of Transcript Request Forms are also available for download.
How to write a request letter for petty cash?
Address it to the supervisor or finance department, stating the amount needed, purpose, expected purchases, and request for approval, with your contact details.
What are the two types of petty cash?
The fixed system, where a set amount is replenished periodically, and the imprest system, where only spent funds are replenished.
How do you document petty cash?
Record each disbursement on a petty cash voucher, including date, amount, recipient, purpose, and attach relevant receipts for reconciliation.
What is a cash request?
A formal or informal request to obtain funds for business expenses, submitted to a company’s finance department or cash handler.
How do I fill out a petty cash slip?
Write the date, amount disbursed, purpose of the expense, recipient’s name, and have the recipient sign the slip upon receiving the cash.
What can petty cash not be used for?
Not for personal expenses, non-receipted purchases, large amounts, salaries, or entertainment expenses not related to business.
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