How to use it
- 1Start with the float you put in the tin, entered as Received with the category Float top-up.
- 2Give every payment a voucher number and write that number on its receipt.
- 3If you're VAT-registered, enter the VAT shown on a valid VAT receipt so it can be reclaimed.
- 4Count the cash against the Balance column at least monthly, and before every top-up.
- 5Top the float back up from the bank and record the top-up in both this log and the cash book.
What each field means
- Voucher number
- A running number that ties the line to its receipt.
- Paid to or received from
- The shop, supplier or person.
- Category
- What the money was spent on, for the expense totals.
- Received
- Cash put into the float.
- Paid out
- Cash taken out of the float, including any VAT.
- VAT included
- The VAT on the receipt, if you're VAT-registered.
- Balance
- What should be in the tin after this line.
- Receipt kept
- Yes when the receipt is filed with the log.
Why the receipts matter
GOV.UK lists receipts, bank statements and sales invoices as the proof behind business records. A petty cash log is the index to that proof: each line points to a numbered receipt, so any cost can be traced if HMRC checks your records.
A limited company has to keep records of all money it spends, petty cash included, for 6 years from the end of the financial year. Sole traders keep theirs for at least 5 years after the 31 January deadline.
Keeping the float honest
Fix the float at an amount that covers a few weeks of small spending, and top it up by the amount spent, so the tin returns to the same figure each time. If the count and the balance differ, find the missing slip before topping up.
Licence and disclaimer
Free to use, copy and adapt for your own business or personal records. Please don't resell it or republish it as your own template.
A template is a starting point, not advice for your circumstances. Check the result against the GOV.UK guidance linked below, or ask an accountant.
Related
What else will you need?
- TemplateCash bookA cash book is a running record of every payment into and out of a business bank account, with the balance after each line.Excel
- TemplateSole trader income and expenses trackerA sole trader income and expenses tracker records every sale and business cost through the tax year, so the self-employment pages of your tax return come straight from the totals.PDFExcel
- ChecklistLimited company year-end checklistAt a limited company's year end, reconcile every bank and loan account, list unpaid invoices and bills, count stock, record asset purchases, review the director's loan account and check dividends were minuted.
Rather we did it?
Countify can handle this for you, for a fixed fee agreed upfront.
Questions
Frequently asked questions.
What if I lose a petty cash receipt?
Note what was bought, when and from whom on a slip with the voucher number. A record without a receipt is weaker evidence, and you can't reclaim VAT without a valid VAT receipt.
Does petty cash go in the cash book?
The top-ups do: each one is money out of the bank. The individual payments go in this log, and their totals feed your expenses.
Can staff use the printable version?
Yes. Keep the printed log in the tin, then type the lines into the spreadsheet when you top up, so the totals and VAT are worked out for you.
Checked against GOV.UK on · Reviewed by Kamran Ishaq FCCA, Founder & CEO, on .
Sources: Business records if you're self-employed: what records to keep (opens in a new tab) (HM Revenue & Customs); Business records if you're self-employed: how long to keep them (opens in a new tab) (HM Revenue & Customs); Running a limited company: company and accounting records (opens in a new tab) (HM Revenue & Customs).