The Petty Cash module in TakeSheet allows your team to capture and record petty cash expenses individually, with full line item detail. Each entry flows directly into the banking module and is posted to the relevant GL account — making accurate data entry in this module essential for the integrity of your venue's financial records.
Creating a New Petty Cash Entry
To record a petty cash expense, click New Supplier Invoice in the Petty Cash module. This opens a new entry with the following fields:
Supplier Name — The name of the supplier or vendor the expense relates to
Invoice or Document ID — The invoice number or reference document identifier
Date — The date of the expense
Line Items
Each supplier invoice can contain multiple line items, providing full flexibility to break down an expense across different categories. For each line item, enter the following:
Description — A brief description of the expense
Total — The amount of the line item
GST Treatment — Select from the dropdown whether the amount is GST inclusive, GST exclusive or GST exempt
GL Account — Select the appropriate General Ledger account from the dropdown list. GL accounts are pre-configured during onboarding and determine where the expense will be posted in your accounting system.
Why GL Account Allocation Matters
The GL account assigned to each line item determines how the expense is categorised and posted when the data flows into the banking module. Selecting the wrong GL account will result in the expense being posted to the incorrect account in your accounting system. If you are unsure which GL account to assign to a particular expense, contact your Manager or Admin before saving the entry.
Module Flexibility
The Petty Cash module operates independently from the other reconciliation modules. The individual float modules — such as Safe Holdings, Cash Desk and others — allow each float to be reconciled from whichever cash source the petty cash funds were paid from. This flexibility means your team can accurately reflect petty cash payments regardless of which float or cash area they were drawn from.
Tip: Entering petty cash receipts as they occur throughout the trading period is always preferable to entering them all at close. It keeps the information fresh and reduces the risk of receipts being lost or details being forgotten by the end of the shift.