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a business uses a petty cash account for tracking physical cash used to make small payments. a petty cash log can be taped to the envelope or stored with the cash so that whenever you remove or add cash you can use the form to record the date, payee, purpose, and amount. differences are resolved and a new cash log is created with a new balance for the new reporting period.
the petty cash log provides a physical paper-based record of the cash-in and cash-out. to customize a petty cash form for your business, download the free template below. this printable pdf provides a simple way to keep track of your petty cash with a printable form.
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