Every cent must be accounted for in a business. There is always a need to have some cash on hand for some emergencies or small transactions which require cash payment only. For example, getting a cup of coffee or purchasing some small quantum of stationery.
Hence, a petty cash is made available in an organization where cash can be given to the staff to make small purchases or payment. It can also be utilized in a home environment. There must be a petty cash receipt given to the recipient of the cash received. This is for accountability purposes.
A petty cash receipt is proof that cash taken from the cash box with a record of purpose and recipient, unless both parties share the intention to abuse the funds and no records of cash taken are made. But there is always a person in charge who is held accountable for the balance of funds in the cash box. A wrongful account can lead to dismissal or legal action against the employee.
Hence, a petty cash receipt template usually registers:
* Receipt number
* Date of transaction
* Received amount
* Received from
* Received by
* For (description of purpose)
A petty cash receipt can also be issued in duplicates for accountability and tracking purposes. One copy is given to the recipient while the duplicate copy is kept by the administrator who can track the balance of the cash daily.
Consider the attached sample template for your convenience.