Petty cash custodians should reconcile a petty cash fund at least once a month to ensure that the total cash on hand plus total receipts not yet submitted for replenishment, petty cash replenishment requests in process and any uncashed replenishment checks equal the original amount of the petty cash fund. This reconciliation is completed using the Petty Cash Reconciliation Form before requesting a decrease in funds, before and after a temporary custodian manages the fund and any time you need to balance your fund without replenishing it.

You need to have the original amount of the petty cash fund available.

  1. Download Petty Cash Reconciliation Form for Cash Fund
  2. Enter Custodian Name, petty cash Fund #, Department Name and Total Fund Amount (original amount of the petty cash fund available)
  3. Access petty cash lockbox
  4. Count bills and coins on hand
  5. Enter the quantity of bills and coins in the shaded Count column on the left portion of the Form

The total of the bill and coin entries is automatically calculated and displayed in the Summary - Cash on Hand section on the right portion of the Form. 

  1. Enter Receipt Totals not yet submitted
  2. Enter Reimbursement Request(s) in Process
  3. Enter total of Uncashed Replenishment Check(s)
  1. Verify that the fund balances. The Difference field (row G31) should calculate to zero. 

Submit a Support Request for assistance if the reconciliation process ends with an overage or shortfall in the petty cash fund 

  1. Save and print the completed Form
  2. Complete the Custodian Signature and Date fields
  3. Obtain the signature and date of the department manager or the manager’s written designee
    Delegation of approval authority to designee must be in writing.
  4. Retain all completed Petty Cash Reconciliation Forms 

 

What Happens Next?
  • The custodian should reconcile the fund monthly and annually. They must retain completed Petty Cash Reconciliation Forms for their department records and be able to provide copies of these forms in the event of an audit by the Office of the Treasurer.

You will need to have the original amount of the petty cash fund available and the most recent bank statement.

  1. Download Reconcilement of Petty Cash Fund Checking Account Form
  2. Enter petty cash fund number, department name, bank name, month and year of the reconciliation
  3. Enter the amount in the Bank Statement Ending Balance from the bank statement 
  4. Access the transaction register in the petty cash lockbox
     
  1. Enter the amount of deposit that has already been sent to the bank, but has yet to be processed and posted to the bank account in the Deposits in Transit row
  2. Enter the check number and amount of all checks paid by the bank account not yet reimbursed
  3. Enter Bank Service Charges, if any
  1. Enter the Check No., Date and Amount for all outstanding checks
  2. Enter the check number and amount of all checks paid by the bank account not yet reimbursed
  3. Enter Bank Service Charges if any
  4. Describe the reconcilement items
  5. Enter the Amount for each line item

The Petty Cash Fund Balance is automatically calculated and displayed. 

Verify that the fund in the Petty Cash Fund Balance row equals the total fund amount

Submit a Support Request if the reconciliation process ends with an overage or shortfall in the petty cash fund.

  1. Enter your name in the Reviewed by, Printed Name field
  2. Enter the department manager’s name in the Verified by, Printed Name field
  3. Save and print the completed Form
  4. Sign and date the Form
  5. Obtain the signature and date from the department manager
  6. Retain all completed Petty Cash Reconciliation Forms 

 

What Happens Next?
  • The custodian should reconcile the fund monthly and annually. They must retain completed Petty Cash Reconciliation Forms for their department records and be able to provide copies of these forms in the event of an audit by the Office of the Treasurer.

Questions?

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