Petty cash book is a type of cash book that is used to record minor regular expenditures such as. Any cash, which the petty cashier receives, will be recorded on the debit side left cash column of the book and any cash which he pays out will be recorded on the credit side right cash column of the boo k. These petty cash expenses are recorded in the petty cash book. Download petty cash book in excel file in xlsx format. Petty cash kas kecil diartikan sebagai sejumlah uang yang disediakan oleh sebuah perusahaan yang memiliki fungsi untuk membayarkan pengeluaranpengeluaran yang nominalnya tidak terlalu besar dan akan tidak ekonomis jika dibayarkan dengan memakai cek. Imprest system petty cash book is quite helpful when the firm uses analytical petty cash book, wherein the book has one column to track the receipt of the amount, from the chief cashier and several other columns to write down expenses under the specific head.
It relieves the cash book and the chief cashier of the burden of recording tiny and frequent payments. Dalam metode fluktuasi setiap terjadi pengeluaran uang dari petty cash langsung dicatat. The imprest system is an accounting system for paying out and subsequently replenishing petty cash. From the following particulars prepare a petty cash book under imprest system. The first row is for the company name and second for the title of the template. Payments in cash of small amounts like traveling expenses, postage, carriage etc. But the imprest petty cash book having a maintain their petty cash each month opening fund impresetly. The receipt column is used to record the opening balance. Subscribe to our youtube channel so as not to miss a tutorial video. Download petty cash book excel template petty cash book is a readytouse excel template to systematically record and manage your petty or small daily routine payments. The simple petty cash book has only two amount columns. Jul, 2019 the imprest system is an accounting system for paying out and subsequently replenishing petty cash. As we know, petty cash book and imprest system is important for our business.
The additional analysis columns are used to analyze expenditures as they arise. How the imprest system of petty cash book works your business. This system of maintaining petty cash book is called the imprest system. Dec 26, 2017 petty cash book aoc this article covers the terminologies in the petty cash book system of accounting, the definition of terms and the analysis of payments. Also, find out its uses and functions in any contemporary business setup. Mar, 2018 the petty cash book is a formal summarization of petty cash expenditures, sorted by date. Contohnya saja seperti untuk mendanai konsumsi, membayar klien atau sesama rekan kerja di kantor. The cash would normally be drawn from the cash checking account, and the journal to post the imprest petty cash would be as follows. Under this system, the total petty expenses for a particular period are estimated and that amount is advanced by the head cashier to the petty cashier. Petty cash book template excel software accountant. Click here to download all accounting excel templates for rs 199.
First, management has to estimate how many small purchases it will make and much money it will need for these purchases. An imprest system of petty cash means that the general ledger account petty cash will remain dormant at a constant amount. Read on for more information on petty cash book advantages, format, systems, and example. Petty cash book is a kind of cash book which records large number of small payments such as conveyance, cartage, postage, telegrams and other expenses under the imprest system. The various columns are totalled to show the reason for making payments, and then the. Petty cash book aoc this article covers the terminologies in the petty cash book system of accounting, the definition of terms and the analysis of payments. A s the petty cashier has to produce to the chief cashier the petty cash book for inspection, it acts as a healthy check on the petty cashier. The petty cash book is maintained by separate cashier known as petty cashier. Nov 02, 2019 usually, the petty cash book are maintained on the basis of imprest system. The employee will complete a petty cash form and give it to the petty cashier with any receipts as proof. Apr 09, 2020 pengisian saldo dana petty cash berfluktuasi sesuai dengan jumlah pengisian kembali dan pengeluaranpengeluaraan dari petty cash. Read this article to learn about the meaning and preparation of analytical and imprest system of petty cash book. In large business concerns, the petty cash book is maintained in columnar or analytical form, with a separate column for each usual item of expense and a column for.
Petty cash is a small reserve of cash kept onsite at a business location for incidental cash needs. Also included as a part of cash are the balances kept at banking and financial institutions. The second system of petty cash is the imprest system. The balance of the petty cash book will be shown on the asset side of balance sheet as cash in hand at the end of the year. Petty cash book with imprest system simple and tabular. In some cases, a description field is provided to help the petty cashier feed insufficient information about every purchase. Under the system, the petty cash fund balance is always maintained at a fixed amount decided on when the fund is first established during an accounting period petty cash is used to pay cash expenses which are supported by petty cash vouchers. Petty cash book is the cash book which involves small cash payment and receipt during daily business operation. Under this system, total petty expenses for a particular period are estimated and the amount is advanced to the petty cashier. Before the rise in the use of credit cards and charge cards, nearly all companies used petty cash accounts to allow employees responsible for purchasing small supplies to do so with minimal hassle. Under this imprest system of petty cash book, the head cashier provides a fixed amount of money to the petty cashier in advance for meeting expenditure of a particular period. At the end of the period, the petty cashier is reimbursed with the same amount of cash which he reports having spent during that period.
Imprest system petty cash book is quite helpful when the firm uses analytical petty cash book, wherein the book has one column to track the receipt of the amount, from the chief cashier and several other columns to write down expenses under the. It is recorded in a separated chart account which enables to reconcile daily between accounting record and logbook. The cash allocated for petty expenditures for a specific period is entered on the credit side of general cash book and on the debit side of petty cash book. The cash is given to the petty cashier either on ordinary system or imprest system which are briefly explained below. Petty cash is the small cash reserves that businesses keep on the. There are two primary types of entries in the petty cash b.
This period could be a week, a month or even sometimes a day. During the period he makes payment out of this money. Petty cash book is a type of cash book, which use to record small amount of receipts and payment. The extreme left column of the petty cash book is to record the receipts of cash, then in the date column.
A petty cash book is an accounting book used for recording expenses which are small. The imprest system reduces the chances of misuse of cash because the float can be immediately reduced if it is found to be more than adequate for the agreed period. The imprest system of petty cash is used by most of the companies because of the following advantages. The imprest system is used for petty cash book maintenance. The imprest petty cash system is a method of accounting for petty cash expenses. Petty cash book with imprest system simple and tabular forms. Define 15 exps head as per user s need auto balance c f b f filter on date get total of your filter data only you can print voucher also in advance version from this data. Petty cash book is an accounting book used for recording expenses which are small and of little value, for example, stamps, postage and handling, stationery, carriage, daily wages, etc these are expenses which are incurred day after day. The firm may adopt imprest system of maintaining petty cash. The total of various columns are posted to the wain cash book. Cash includes currency and coins, although most businesses do not keep much of this type of cash around. Manage your business expenses anytime, anywhere with debitoor invoicing software. Usually, the petty cash book are maintained on the basis of imprest system. The main advantages of imprest system of petty cash are as follows.
Under the system, the petty cash fund balance is always maintained at a fixed amount decided on when the fund is first established. The image above is a sample of petty cash book and imprest system. Petty cash book 2019, imprest system of petty cash advantages. Petty cash book is the accounting book that is used for the purpose of recording the petty cash expenditure i. Petty cash book explanation, format, example, ordinary and. Under the petty cash imprest system, the head cashier provides a fixed feasible amount depending on previous spend history to the petty cashier for a given period. Under this imprest system of petty cash book, the head cashier provides a fixed amount of money to the. Petty cash book may be maintained by the ordinary system or by imprest. Understand how the imprest system works in the petty cash book.
Definition of petty cash petty cash refers to a small amount of currency and coins that a company uses to pay small amounts without writing a check. An imprest system is a method to account for petty cash by maintaining a balance in a fund that equals petty cash receipts plus additional cash in the fund. It is the most scientific method to maintain petty cash. A petty cash book takes in relevant details concerning purchases. Typically, it may also contain the so many expense columns in the credit side of the cash book to record expenses. The imprest system is an accounting system designed to track and document how cash is being spent. Suppose a business wants to implement an imprest petty cash system and establish a fixed petty cash fund of 100 at the start of an accounting period. The difference between the total of the debit items and that of the total column on the credit represents the balance of the petty cash in hand. Petty cash book definition, types, format, examples. Fixed amount is paid to the petty cashier along with the imprest system. Pengisian saldo dana petty cash berfluktuasi sesuai dengan jumlah pengisian kembali dan pengeluaranpengeluaraan dari petty cash. The most common example of an imprest system is the petty cash system. A petty cash book can either be a simple petty cash book or an analytical petty cash book.
Petty cash book explanation, format, example, ordinary. Here the petty cashier is given a lump sum amount of money at the beginning of the accounting period. The imprest system is a form of financial accounting system. Beside petty expenses, receipts from main cash are recorded. Petty cash book explanation, format, example, ordinary and imprest system accounting for management petty cash book explanation, format, example, ordinary and imprest system cleaning materials accounting personality management gallery books cleaning supplies roof rack livres. Petty cash refers to a small amount of currency and coins that a company uses to pay small amounts without writing a check.
Under this time period, the cashier has to run the petty cash account under the given budget. The imprest system the petty cashier will keep a certain amount with her for expenses 1. Petty cash book explanation, format, example, ordinary and imprest system accounting for management. Petty cash book definition, types, format, examples imprest and. At the end of the period a petty cash reconciliation is carried out. Petty cash book explanation, format, example, ordinary and imprest. An imprest system is used to run and manage a petty cash fund. Commission of fraud is reduced as the chief cashier verifies petty cash book alongwith vouchers and the petty cashier is more responsible. Under the imprest petty cash system, the petty cashier amount is fixed for a given time period under which is usually under a month or a week.
Maintaining a cash book under the stated system is called an imprest petty cash book. As the petty cashier has to account for his expenses, before he can draw further sums, the petty cash book remains up to date. How the imprest system of petty cash book works your. Petty cash book is maintained to record small expenses such as postage, stationery, telegram. Like columnar petty cash book, it also contains many money columns in the credit side and one money column in the debit side and a particular column and a date column are also similar to that of the columnar or analytical petty cash book.
Large businesses maintain petty cash book to reduce the burden of main cash book. Suppose as an example, there are two expenses during the period. Download petty cash book excel template exceldatapro. A separate column is allotted for each type of expenditure.
Kalau dalam sistem imprest pencatatan terhadap pengeluaranpengeluaran petty cash baru dilakukan pada saat pengisian kembali. Jan 24, 2019 besides maintaining a main or general cash book, many companies also maintain a small cash book known as petty cash book to record small day to day expenditures of the business. Click here to download simple cash book excel template. The base characteristic of an imprest system is that a fixed amount is reserved, which after a certain period of time or when circumstances require, because money was spent, it. For this purpose, a petty cashier is appointed by the firm, to pay for small payments usually below rs. Nov 27, 2019 the imprest petty cash fund is established.
Any new organization operator really should know the importance of knowing the best way to get ready a blank bill template as this is actually the first step to receiving compensated. The chief cashier is relieved from the cumbersome work of petty cash disbursement. In large business concerns, the petty cash book is maintained in columnar or analytical form, with a separate column for each usual item of expense and a column for total. The petty cashier spends the money under the given budget. The imprest system is designed to provide a rudimentary manual method for tracking petty cash balances and how cash is being used. It can be either a week or a month depending on the volume of transactions. The petty cash book is ruled in the form of the single column cash book with an amount column and addition oat columns for the more usual classes of expenditure. In most cases, the petty cash book is an actual ledger book, rather than a computer record. Under imprest system, a fixed amount of money known as float is given to the petty cashier to meet petty expenditures for an agreed period which usually consists. Second, a check is written for this amount, and the cash is given to the cashier in charge of the petty cash fund. It may be maintained by ordinary or by the imprest system. Nov 23, 2015 understand how the imprest system works in the petty cash book.
The receipt column is used to record the opening balance and the amount received from the head cashier. Petty cash book format example definition explanation. Ordinary system imprest system in this system petty cashier is given appropriate amount of cash after spending the whole of that amount the submits the account to the head cashier this is the system of paying advance in the beginning and reimbursing the amount system of petty cash book 7. The petty cashier is given a sum of money in the beginning of the period. Imprest systems is a system by which a refund is made of the total paid a worked example of a petty cash book. Kumpulan contoh soal kas kecil metode imprest dan fluktuasi. In an imprest petty cash system the petty cash fund is maintained at a fixed sum. The amount of petty cash also known as the petty cash fund varies by company or organization. This type of book is maintained just like a cash book.
By watching this video you will understand how to record all the entries in the petty cash voucherreceipt book. At the end of the period, the petty cashier submits to the head cashier a statement of expenditures incurred by him. What is imprest system in maintain petty cash book. The base characteristic of an imprest system is that a fixed amount is reserved, which after a certain period of time or when circumstances require, because money was spent, it will be replenished. The balance of the petty cash book will be shown on the asset side of balance sheet as. Petty cash book is the book which is used for the purpose of recording expenses involving small amounts. In a imprest system, a cashier is provided a small amount to meet the petty expenses of a given period and is authorized to make such payments. The advantages of petty cash system enumerated are as follows. An imprest system will be adopted for the petty cash book.
The balance left in the petty cash book indicates the amount remaining with the petty cashier. The most common imprest system is the petty cash system. Most companies set up a special fund called a petty cash fund for small purchases and office expenditures. Under this system a fixed sum of money is given to the petty cashier to cover the petty expenses for the month. The petty cash book is a formal summarization of petty cash expenditures, sorted by date. The petty cash book is not part of the double entry bookkeeping system. Petty cash book is maintained by petty cashier and acts as the petty cash account. Petty cash book 2019, imprest system of petty cash.
Thus, the book is part of a manual recordkeeping system. Totals are carried forward from page to page until the end of the periods. Below is a breakdown of all columns and information contained in a petty cash book. The more scientific method of maintaining petty cash so for introduced into practice is the imprest system.
461 1069 181 1211 1352 22 150 373 1603 81 16 1128 476 1297 1046 1573 581 1549 1068 486 496 910 1494 221 1128 1368 729 803 179 208 650