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PETTY CASH FUND RECONCILIATION Department Date of Report Cash On Hand Currency Coin 100 50 Dollar 20 Half Dollar 10 Quarter 5 Dime 2 Nickel 1 Penny Total 0.00 Total 0.00 0.00 Cash Total $ Disbursement

How to fill out petty cash fund reconciliation

How to fill out petty cash fund reconciliation:

1. Gather all petty cash receipts from the designated period.
2. Check each receipt against the corresponding entry in the petty cash register.
3. Verify that all receipts are accurate and properly documented.
4. Calculate the total amount spent from the petty cash fund during the period.
5. Count the remaining cash in the petty cash drawer or box.
6. Calculate the total amount of cash that should have been in the petty cash fund based on the original amount and all the expenditures.
7. Compare the calculated total with the actual amount of cash on hand.
8. Record any discrepancies between the calculated and actual amounts.
9. Prepare a reconciliation statement summarizing the findings.
10. Attach all necessary supporting documentation, such as receipt copies or explanations for any discrepancies.
11. Sign and date the reconciliation statement.
12. Submit the reconciliation statement, along with the supporting documentation, to the appropriate authority for review.

Who needs petty cash fund reconciliation:

1. Businesses that have a petty cash fund to manage day-to-day small expenses.
2. Accountants or financial professionals responsible for overseeing and reconciling petty cash transactions.
3. Supervisors or managers who have authority over the petty cash fund and need to ensure its proper management and documentation.
4. Auditors or internal control personnel who review financial records and processes to ensure compliance and prevent fraud.

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What is petty cash fund reconciliation?

Petty cash fund reconciliation is the process of comparing the recorded balance of the petty cash fund with the actual amount of cash on hand to ensure accuracy.

Who is required to file petty cash fund reconciliation?

Anyone responsible for managing a petty cash fund, such as a designated custodian or finance officer, is typically required to file petty cash fund reconciliation.

How to fill out petty cash fund reconciliation?

To fill out petty cash fund reconciliation, you would need to record all cash transactions, compare them with receipts, and reconcile any discrepancies to ensure the fund is balanced.

What is the purpose of petty cash fund reconciliation?

The purpose of petty cash fund reconciliation is to monitor and track the usage of small amounts of cash for minor expenses, and to ensure that there is proper documentation and control over the fund.

What information must be reported on petty cash fund reconciliation?

Information such as starting balance, cash receipts, cash disbursements, ending balance, and any discrepancies or adjustments must be reported on petty cash fund reconciliation.