Running a business: Keeping records
Petty cash books
Keep a petty cash book to record how the cash available for day-to-day expenses are spent, eg milk, tea, postage and taxi fares.
When setting up a petty cash book you'll need:
- a petty cash tin or purse to keep the money in
- a petty cash book to record expenses.
Illustration of a petty cash book
| 2002 Petty cash book | |||
|---|---|---|---|
| Date | Purchase | Amount | Balance |
| 4/4 | Opening balance | $100.00 | |
| 4/4 | Milk | $2.60 | $97.40 |
| 8/4 | Taxi | $22.50 | $74.90 |
| 8/4 | Coffee | $10.95 | $63.95 |
| 8/4 | Tea | $3.75 | $60.20 |
| 10/4 | Stationery | $15.00 | $45.20 |
| 11/4 | Milk | $2.60 | $42.60 |
| 11/4 | Tea | $5.35 | $37.25 |
| 15/4 | Cheque from bank account | ($62.75) | $100.00 |
| 15/4 | Taxi | $22.50 | $77.50 |
| 16/4 | Drinks | $35.00 | $42.50 |
| 15/4 | Afternoon tea | $25.00 | $17.50 |
| 17/4 | Milk | $2.50 | $15.00 |
| 22/4 | Cheque from bank account | ($85.00) | $100.00 |
Date published: 18 Jan 2005
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