What is petty cash?
The accessible money that is used by an organization for making payments of small and usual purchases, reimbursements, and expenditures is known as petty cash. The petty cash is generally stored by a specific department of the company.
The company also chooses a custodian who is responsible for taking care of petty cash. The job of the custodian is to keep the petty cash more organized so that it can be availed whenever it is needed. When an employee makes a request to use the petty cash, the organization issues it for a particular purpose.
Petty cash is a few specific funds in the form of cash utilized for various expenses because of many reasons, such as inconvenience and cost of writing, signing, etc.
What is petty cash request slip?
In order to get the petty cash, an employee is required to submit the request to the custodian. There is a specific criterion for requesting for the petty cash. Therefore, not every employee gets access to the petty cash. The custodian receives the request and then reads it carefully to decide whether or not he should accept the request.
It is a common way of accounting for the petty expenses. To create initial funds for the needs of business, a check is issued for the desired amount. Usually, an amount of $100/- to $200/- is sufficient for the business needs and small expenses. The initial fund for the petty cash is entered in the financial books as petty cash debit and bank account credit. After making an expense, the custodian of the fund reimburses the employees and receives a voucher for petty cash in return.
Uses of petty cash request slip:
If you want petty cash, then you have to use a petty cash request slip that is designed for your help. The employee can fill it and make a request for the petty cash for the small expenses of the business.
The petty cash request slip template is designed according to the accounting standards; therefore you can use it to get petty cash. There is no need to pay any cost because you can download it with the help of given below link.
It is easy to use and you can modify it according to your needs. Feel free to make some amendments in it as it is designed in a user-friendly format.
You can write the date, cash limit, description of need, account number and different other contents according to your needs.
Preview and details of the template
File: Excel (.xls) 2007+ and iPad Size 52 Kb | Download
File: OpenOffice (.ods) Spreadsheet [Calc] Size 17 Kb | Download
License: ENERGY (Personal use only)
(Distribution) by Kate Elizabeth(CEO)
Petty cash request slip template:
An employee is required to submit the request effectively so that his request can be accepted. If the employee does not know how to write the request, the petty cash request template can be used that will definitely help the employee know how to submit the request.
The petty cash request slip contains various empty fields to be filled by the user. By filling these details, the user provides almost all the details needed by the custodian to obtain. The benefit of using the template is that it doesn’t let the employee skip any important detail.
What should be included in the petty cash request slip?
- Name of the person making the request
- The basic details of the request.
- Reason for requesting the petty cash
- Date of petty cash request slip submission
- Total amount needed
- Name of the person who has to approve or disapprove the request
The information to be provided in the slip should be correct so that the custodian can trust you and approve your request.