Petty Cash Reimbursement Form Template

Introduction

Managing petty cash is an essential task for businesses, regardless of their size. Petty cash is a small amount of money that is kept on hand to cover small expenses such as office supplies, transportation costs, and other miscellaneous expenses. To ensure proper management and accountability of petty cash, businesses often use a petty cash reimbursement form. In this article, we will provide a sample petty cash reimbursement form template, along with some frequently asked questions about it.

Sample Petty Cash Reimbursement Form Template

Here is a sample template for a petty cash reimbursement form:

[Company Name]

Petty Cash Reimbursement Form

Date: [Date of reimbursement]

Petty Cash Custodian: [Name of person responsible for petty cash]

Department: [Department or division name]

Expense Details

Date: [Date of expense]

Amount: [Amount spent]

Description: [Description of expense]

Receipt Attached: [Yes/No]

[Add more rows for additional expenses, if necessary]

Summary

Total Reimbursement Amount: [Total amount to be reimbursed]

Approved by: [Name of approving authority]

Date: [Date of approval]

Once the form is completed, it should be submitted to the petty cash custodian for review and approval. After approval, the custodian will process the reimbursement and provide the necessary funds.

Frequently Asked Questions (FAQ) about Petty Cash Reimbursement Form Template

1. Why is a petty cash reimbursement form important?

A petty cash reimbursement form helps businesses maintain proper documentation and accountability for petty cash expenses. It ensures that all expenses are properly authorized and recorded.

2. Can I customize the sample petty cash reimbursement form template?

Yes, you can customize the template to fit the specific needs of your business. You can add or remove fields as necessary.

3. How often should I submit a petty cash reimbursement form?

The frequency of submitting petty cash reimbursement forms depends on the volume of petty cash expenses. Some businesses submit the form on a weekly or monthly basis, while others may do it on a per expense basis.

4. Should I attach receipts to the reimbursement form?

It is highly recommended to attach receipts to the reimbursement form to support the validity of the expenses. This helps in proper documentation and auditing purposes.

5. Who should approve the petty cash reimbursement form?

The approving authority may vary depending on the organization’s structure. It can be a manager, supervisor, or someone designated by the company. The approval ensures that the expenses are in line with company policies and budgets.

6. Can I use digital forms for petty cash reimbursement?

Yes, many businesses now use digital forms for petty cash reimbursement. This allows for easier submission, tracking, and approval of expenses.

7. What happens if there is a discrepancy in the reimbursement amount?

If there is a discrepancy in the reimbursement amount, it should be resolved with the petty cash custodian or the person responsible for managing the petty cash. Proper documentation and communication are crucial in such situations.

8. How long should I keep petty cash reimbursement forms?

It is recommended to keep petty cash reimbursement forms for a certain period, typically as per the company’s record retention policy. This allows for future reference and auditing purposes.

9. Can I use the petty cash reimbursement form for non-business-related expenses?

No, the petty cash reimbursement form should only be used for business-related expenses. Personal expenses should not be claimed through petty cash.

10. Is there any software available for managing petty cash reimbursements?

Yes, there are various accounting and expense management software available that can help businesses streamline and automate the petty cash reimbursement process. These software solutions provide additional features like expense tracking, reporting, and integration with other financial systems.

Tags:

Petty cash, reimbursement form, template, business expenses, documentation, accountability, customization, receipts, approval, digital forms, discrepancy, record retention, non-business expenses, software solutions