A petty cash log template is a small amount of cash that is kept by a company for paying immediate payments for various small items rather than writing a check and the cash can be kept in a small safe or drawer. Petty cash log is used by the business for tracking physical cash that is used to make small payments. This log will help your business to manage the petty cash perfectly as well as accurately entered into the bookkeeping system. This log is very useful for keeping a running total of the balance left and it is a good way to make sure that the amount of petty cash doesn’t run short of cash. Petty cash log template assists a petty cash manager to keep perfect track of all petty cash transactions in a proper and organized way for record keeping purpose as well as to stay on track while managing petty cash of an organization or a business.
By keeping an accurate petty cash log template is to stay away from the minor mistakes when it comes to compensate the petty cash payments from the general account of the business. Here are some basic benefits of petty cash log such as reduction in numbers of transaction, reduction of errors, check on expenses, keeps on you track, control on petty cash, facility in posting, saving of the time and labor. Creating a log is the requirement of today’s business and it is very important for all activities. It is used to increase the productivity of employees and staff members. Another problem is lack of communication between staff which led to productivity. Once all activities and steps are recorded in log template, therefore the chances of loss and wastage reduced to nominal level. Keeping log helps in managing time and cost. It is very effective tool for time management. It is important to note here that time management is the most important segment of any business. A petty cash log template helps in time management which increases the effectiveness and performance of employees.
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