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Count petty cash and review the cash book

Select the company cash account and count date. Obtain physical denominations/count and identify all cash documents for the period.

Start at Treasury > Petty cash audits.

Procedure​

  1. Create a petty cash audit for the company/cash account. Fill book balance for the intended date and confirm that preceding cash documents are posted.
  2. Count actual cash and enter actual balance in the correct currency. Compare the calculated surplus or shortage with the physical count.
  3. Investigate missing, duplicated or incorrectly dated cash documents before recognizing a genuine discrepancy.
  4. For an approved discrepancy choose the relevant cash-flow and income/expense analytics. Record responsibility only under an established company decision, not automatically against the cashier.
  5. Complete the cash audit and its required correction, then check the cash balance. Open the cash book linked to the account if the company uses it.
  6. For each day compare opening balance, incoming cash, outgoing cash and closing balance. Review document sequence and print the applicable period only after reconciliation.

Check the result​

Counted cash and ledger cash reconcile, and the cash book contains the intended account/currency and all period documents.

If the result differs​

Book balance differs from cash: check missing/duplicate transactions before recognizing a discrepancy. Cash book is incomplete: verify account linkage, dates and posted documents.