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May 15, 2024
Question

How do I add cash on QuickBooks. So I have been given cash as payment for services but I haven’t deposited it in my account

  • May 15, 2024
  • 1 reply
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1 reply

May 15, 2024

Hello Mrsfreeman83hot, welcome to the QuickBooks Community! There are a few ways to add cash. The most common way is to set up a petty cash account in the chart of accounts. You can do this as shown below.

 

  1. Go to Settings ⚙ and select Chart of accounts.
  2. Select New.
  3. From the Account Type dropdown▼, select Cash at bank and in hand.
  4. From the Detail Type dropdown▼, select Cash on hand.
  5. Enter Petty Cash in the Name field.
  6. The opening balance will be created when you move money from the current account by writing a cheque or transferring funds. If you already have money to use for petty cash, enter the amount in the Balance field and select the as of date.
  7. Select Save and Close..

So, in this case you could add the opening balance as the amount of cash you have and in future if you received cash, you could use the bank deposit option (under the + new on the top left of QB) and deposit it to the petty cash account. You can then transfer(+ new and transfer) from that account to the bank account if you do put it in your bank or if you use the cash to pay for business expenses and then you can record the expense and select the petty cash as the account paid from. Any questions let us know. We've included an article on the subject here that may be useful as well.