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.
Reconcile a Petty Cash - Cash Fund
Before You Start
You need to have the original amount of the petty cash fund available.
- Download Petty Cash Reconciliation Form for Cash Fund
- Enter custodian name, department name, month and year of the reconciliation, petty cash account number and original petty cash amount
- Access petty cash lockbox
- Count bills and coins on hand
- 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 - Total cash on hand section on the right portion of the Form.
- Enter total amount of receipts not yet submitted for reimbursement
- Enter total amount of reimbursement request(s) in process
- Enter total amount of uncashed reimbursement check(s)
- Verify that the total amount in the petty cash account row equals the original petty cash amount. The Difference field (row P22) 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
- Enter your name in the Reviewed by, Printed Name field
- Enter the department manager’s name in the Verified by, Printed Name field
- Print to Adobe PDF
- Sign and date the Form
- Obtain the signature and date from the department manager
- Retain all completed Petty Cash Reconciliation Forms in a shared department drive
Delegation of approval authority to designee must be in writing
- See below for an example of a completed reconciliation form for petty cash.
- 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.
Reconcile a Petty Cash - Checking Account
Before You Start
You will need to have the original amount of the petty cash fund available and the most recent bank statement.
- Download Petty Cash Fund Checking Account Reconciliation Form
- Enter custodian name, department name, petty cash fund number, month and year of the reconciliation, bank name, checking account number and allocated fund amount
- Enter the amount in the Bank Statement Ending Balance from the bank statement
- Access the transaction register in the petty cash lockbox
- Enter the amount of reimbursement requests in process that have yet to be processed and posted to the bank account in the Reimbursement request(s) in process row
- Enter the date, check number, payee and amount of all checks paid by the bank account not yet reimbursed
- Enter the date, check number, payee and amount for all outstanding checks
- Enter Bank Service Charges if any, along with other transactions that do not fall into the above categories in the Other Reconciling Items line, describe the item and enter the amount
The Petty Cash Fund Balance is automatically calculated and displayed.
Verify that the fund in the Total Petty Cash Fund Balance row equals the Allocated Account Amount. The Difference field (row O25) should calculate to zero.
Submit a Support Request if the reconciliation process ends with an overage or shortfall in the petty cash fund.
- Enter your name in the Reviewed by, Printed Name field
- Enter the department manager’s name in the Verified by, Printed Name field
- Print to Adobe PDF
- Sign and date the Form
- Obtain the signature and date from the department manager
- Retain all completed Petty Cash Reconciliation Forms in a shared department drive
- Submit signed reconciliation form by the 15th of the subsequent reconciling month to the Petty Cash Administrator via a Support Request
- The custodian should reconcile the fund monthly. 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.