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fordacf
April 5, 2020
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How to record cash withdrawals in QB 2019

  • April 5, 2020
  • 1 reply
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Have a question. I am by no means an accountant and this is certainly not my strong suite but here goes. Our organization (non-profit) held an event where we received and made deposits to our checking account. however in order to cover our silent auction we withdrew cash from the account over the counter at the bank. Question is how do we record this transaction in QB? I looked at some QB videos stating to create a cash bank account or petty cash and use that. Ex. $900 was deposited in the account then $300 was withdrawn. How is this recorded? Any assistance is appreciated!

    Best answer by Charies_M

    Thanks for giving me the opportunity to help you today, fordacf.

     

    To handle this, you can create a Petty Cash Account or Cash Bank Account and write a check using the said account to record your cash withdrawals in QuckBooks Desktop.

     

    Here's how to create a Petty Cash Account or Cash Bank Account in QuickBooks:

     

    1. Go to Lists and choose Chart of Accounts.
    2. Click the Account button below and select New.
    3. Choose Bank as the account type.
    4. Click Continue.
    5. Enter your preferred Account Name (Example: Petty Cash or Cash Bank Account).
    6. Fill in other necessary information an click Save & Close.

     

    For more insights about managing accounts in QuickBooks Desktop, you can refer to this article: Create, edit, or delete account in QuickBooks Desktop.

     

    Then, you can create a check and make sure to use the Petty Cash as your Bank Account.

     

    Here's how:

     

    1. Go to Banking.
    2. Click Write Checks.
    3. In the Bank Account section, choose the Cash Account.
    4. Fill in the information.
    5. Click Save & Close or Save & New.

    You can read through this article to learn more about managing checks in QuickBooks Desktop: Create, modify, and print checks.

     

    If there's anything else that you need help with, just let me know. I'd be more than happy to assist you further. Take care and have a great day a head.

    1 reply

    C
    Charies_MAnswer
    April 5, 2020

    Thanks for giving me the opportunity to help you today, fordacf.

     

    To handle this, you can create a Petty Cash Account or Cash Bank Account and write a check using the said account to record your cash withdrawals in QuckBooks Desktop.

     

    Here's how to create a Petty Cash Account or Cash Bank Account in QuickBooks:

     

    1. Go to Lists and choose Chart of Accounts.
    2. Click the Account button below and select New.
    3. Choose Bank as the account type.
    4. Click Continue.
    5. Enter your preferred Account Name (Example: Petty Cash or Cash Bank Account).
    6. Fill in other necessary information an click Save & Close.

     

    For more insights about managing accounts in QuickBooks Desktop, you can refer to this article: Create, edit, or delete account in QuickBooks Desktop.

     

    Then, you can create a check and make sure to use the Petty Cash as your Bank Account.

     

    Here's how:

     

    1. Go to Banking.
    2. Click Write Checks.
    3. In the Bank Account section, choose the Cash Account.
    4. Fill in the information.
    5. Click Save & Close or Save & New.

    You can read through this article to learn more about managing checks in QuickBooks Desktop: Create, modify, and print checks.

     

    If there's anything else that you need help with, just let me know. I'd be more than happy to assist you further. Take care and have a great day a head.

    F
    fordacfAuthor
    April 8, 2020

    Thank you! This resolved this issue! Much appreciated!

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