Liquidating petty cash expenses
This type of log would contain a lot of columns for amounts of money so you can record daily expenses and it should have a debit and credit side.
Then at the end of the day, you can compute the total funds you have left in your box.
With this type of log, you’d have to create a separate column for each of the headings of expenses in the credit part of your log.
Following are the typical transactions connected to petty cash fund.
In all kinds of businesses, employees would have to handle petty cash at one time or another and it would be very useful to record everything in a petty cash log.
In all kinds of businesses, it would be very important to have your own petty cash log to monitor and record all your transactions.