Md. Shamim Reza
This article illustrates how to make a Petty Cash Balance Sheet in Excel. A petty cash balance sheet usually contains minor small payments. It is very important, especially for big companies, to have petty cash balance sheets. Fortunately, you can easily create such balance sheets in Excel or use free templates as required.
Download Petty Cash Balance Sheet Free Template
You can download the petty cash balance sheet free template from the download button below.
What Is a Petty Cash Balance Sheet?
Petty means trivial or of less importance. An actual balance sheet contains all the important transactions that occur within a company. So petty or small amounts can easily go unnoticed. Moreover, it is an extra hassle for the chief cashier to keep track of these petty transactions while also managing the larger amounts which may even be in billions. Therefore, an assistant cashier keeps track of all minor transactions like stationary, beverages, cartage, etc in a separate balance sheet called the petty cash balance sheet or petty cash log.
Petty Cash Balance Sheets have a few types or categories as follows. These types are based on the amount of information recorded and the formatting of the balance sheet.
- Simple
- Analytical
- Columnar
- Imprest
It is very important for big companies to have a petty cash balance sheet. This makes the main balance sheet look more neat and informative as small payments become excluded. It is also helpful for managing petty transactions more efficiently.
Steps to Make a Petty Cash Balance Sheet in Excel
Step 1: Create a Header
- First, create a header for the balance sheet along with the company logo as shown below.
Read More: Balance Sheet Format in Excel with Formulas (Create with Easy Steps)
Step 2: Add Summary Row
- Then, add a summary row showing the cashier’s name, beginning, and current balances for a quick overview.
Step 3: Create Labels
- Next, create labels to record the petty cash balances (for example, dates, deposits, expenses, etc).
Read More: How to Create Vertical Balance Sheet Format in Excel
Step 4: Enter Data
- Now start entering data as shown in the picture below.
Read More: Balance Sheet Format of a Company in Excel (Download Free Template)
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Step 5: Apply Formulas
- Then, enter the following formula in cell C38 and drag the fill handle icon to the right.
=SUM(C7:C37)
- Next, apply the following formula in cell K7 and drag the fill handle icon to the cells below.
=SUM(E7:J7)
- After that, enter the following formula in cell K4 to get the current balance.
=SUM(H4,C38,-K38)
Read More: How to Create Common Size Balance Sheet in Excel
Step 6: Finalize Petty Cash Balance Sheet
- Finally, select the ranges for data entry and apply the Accounting Number Format. After that, the petty cash balance sheet format will look as follows.
Read More: How to Create a Balance Sheet for Small Business in Excel
Things to Remember
- You can insert rows between rows 7:37 and columns between columns E:J if needed.
- You can search for online templates in Excel using the keyword “Petty Cash” before creating a new workbook. You will find some simple petty cash balance sheet templates to work with.
Conclusion
Now you know how to make a petty cash balance sheet in Excel. Do you have any further queries or suggestions? Please let us know in the comment section below. You can also visit our ExcelDemy blog to explore more about Excel. Stay with us and keep learning.
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