HOW TO ANALYZE PETTY CASH TRANSACTIONS USING EXCEL



DO YOU RUN A BUSINESS? DO YOU KEEP A PETTY CASH BOOK? HOW DO YOU KEEP YOUR PETTY CASH BOOK? Here, I will just show you a simple way to keep a Petty Cash Book using an Excel Template. You can design your own Template on Excel to enable you maintain a simple Petty Cash Book. Even if you do not know how to set up a Template from a new excel Worksheet, you can still Keep your Petty Cash Record. Before we proceed you need to to open a new Excel Sheet and enter the following;

1. On Cell F1 type in ACCOUNT CODE
2. On Cell G1 type in ACCOUNT NAME
3. On Cell H1 type in ACCOUNT SUB CLASS

ACCOUNT NAMES are just the Names you call your Different Transactions. For example, all transport expenses within the City of Business Location call be called LOCAL TRANSPORT. Thus LOCAL TRANSPORT is an ACCOUNT NAME/HEAD where all transport expenses within the City are recorded. You call also have another ACCOUNT NAME called TRAVELLING EXPENSES which is an ACCOUNT HEAD for all Transport Expenses outside the City of Business Location. 

ACCOUNT CODES are the numbers assigned to the ACCOUNT NAMES for identification. Let say we assign 83004 to LOCAL TRANSPORT and 83010 to TRAVELLING EXPENSES. 

You may not have to do all these if you already have a CHART OF ACCOUNTS in your business. If you already have a CHART OF ACCOUNTS then all you need to do is copy the ACCOUNT CODES and PASTE under the F Column under F1, Copy the ACCOUNT NAMES and PASTE under the G Column under G1 and if your existing CHART OF ACCOUNTS has an ACCOUNT SUB CLASS groupings then your Copy them and PASTE under the H column under H1. If you existing CHART OF ACCOUNTS do not have the Account Sub Class then you with ignore it or you set it up.

ACCOUNT SUB CLASS are Account group heads used to group a set of ACCOUNT NAMES/HEAD they are similar in nature of reporting. Below are some examples of ACCOUNT SUB CLASS;

a. Property, Plant & Equipment (PPE) aka Fixed Assets
b. Direct Cost
c. Banks
d. Marketing Cost
e. Transport Cost
d. Income

Local Transport and Traveling Expenses can be Grouped under the ACCOUNT SUB CLASS called "Transport Cost". Computer Equipment, Generator, Office Equipment, Furniture & Fittings and Motor Vehicles can be grouped under PPE. 




After you have set up your ACCOUNT NAMES, ACCOUNT CODES and ACCOUNT SUB CLASS (if necessary) then you can set up your Excel Template for Petty Cash Book. If you don't know how to start one then you don't need to worry.  

Here is what you will do; Get our  PETTY CASH SYSTEM TEMPLATE-1 on ITEM NUMBER 2 from our Free Template Page. After you download this EXCEL FILE, then you watch the Video Tutorials (Part 1 and Part 2) below to enable you use the Template Properly.

GET THE PART 1 VIDEO TUTORIALS HERE

GET THE PART 2 VIDEO TUTORIALS HERE

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