The following are the types of petty cash book
1. Simple Petty Cash Book
A simple petty cash book is one in which there is only one amount column on its both sides with common date and particular column. The debit column is used for entering the balance of cash in the hand of petty cashier at the beginning of the period and the amount received from the head cashier. The credit amount column is used for entering the petty payments in order of date. It is balanced like a ledger account.
2. Analytical Petty Cash Book
An analytical petty cash book is one in which there is one amount column in its debit side and a number of columns on its credit side for different heads of expenses. Since the petty cash book analysis the expenses into a number of heads of expenses, the name given to it is analytical petty cash book. Each payment is recorded on it twice, one on total amount column and next on individual expense column. In fact, it is an extension of simple petty cash book. The total amount column is balanced and individual expense columns are totaled.
1. Simple Petty Cash Book
A simple petty cash book is one in which there is only one amount column on its both sides with common date and particular column. The debit column is used for entering the balance of cash in the hand of petty cashier at the beginning of the period and the amount received from the head cashier. The credit amount column is used for entering the petty payments in order of date. It is balanced like a ledger account.
2. Analytical Petty Cash Book
An analytical petty cash book is one in which there is one amount column in its debit side and a number of columns on its credit side for different heads of expenses. Since the petty cash book analysis the expenses into a number of heads of expenses, the name given to it is analytical petty cash book. Each payment is recorded on it twice, one on total amount column and next on individual expense column. In fact, it is an extension of simple petty cash book. The total amount column is balanced and individual expense columns are totaled.