Petty cash reconciliation
Reconciling petty cash means checking that the cash in the tin plus the receipts since the last top-up add up to the float. It takes about ten minutes once a week or month.
The rule
Cash counted + receipts and vouchers = float. If both sides match, the tin is reconciled. If not, the difference is what you need to explain.
Five steps
- Count the cash. Count every note and coin. The free cash float calculator adds them up for you.
- Add up the receipts and vouchers taken since the last top-up.
- Compare to the float. Cash plus receipts should equal it exactly.
- Explain any difference. Look for missing receipts, top-ups nobody wrote down, and change not returned. The shortfall finder walks you through it.
- Record it and top up. Post the receipts to your books by category, note any unexplained difference as an adjustment, and top the tin back up to the float.
Worked example
| Item | Amount |
|---|---|
| Float | $200.00 |
| Cash counted in the tin | $142.10 |
| Receipts: milk $4.50, courier $18.00, cleaning $12.95 | $35.45 |
| Cash + receipts | $177.55 |
| Unexplained difference | $22.45 short |
Before writing off $22.45, check for a $20 note taken without a receipt and change not returned from the courier. If it can't be found, record a $22.45 adjustment with a note, then top up $57.90 to bring the tin back to $200.
How often?
Weekly if several people use the tin, monthly if it's one person. Always before the top-up, and always at the end of the financial year.
Make the difference easier to find
Most differences come from cash taken without a note of who took it. Our free petty cash template has a column for that.
Or let the app do the adding up
With the PettyCashing app, staff scan a QR code on the tin, enter what they took and snap the receipt. The app always knows what should be in the tin, so a count shows the difference straight away, with the names of who took cash. 30 days free, then A$9.99 a month.