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February 8, 2023
Question

I have a taxi service that is an all cash business. My drivers are contractors. at the end of the shift we split the cash, How do I enter this cash transactions?

  • February 8, 2023
  • 1 reply
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1 reply

February 9, 2023

Hello there, @jcgill.

 

You can record your total daily sales using a single sales receipt and pay your contractors their share so you can enter your cash transactions in QuickBooks Online (QBO). I'll gladly show you how.

 

You can enter a single sales receipt to report the total daily sales if you don't invoice customers to keep your income reports accurate in QBO. To do this, you'll have to create a customer and name it "Daily Sales," and set up accounts and items for daily sales. 

 

To create a customer for your daily sales, here's how:

 

  1. Go to Get paid & pay or Sales, then select Customers.
  2. Select New customer.
  3. Enter "Daily Sales".
  4. Select Save.

 

Next, set up accounts for daily sales so you can have accurate income reporting. To do this, here's how:

 

  1. Select the Gear icon on the Toolbar.
  2. Under Your Company, choose Chart of Accounts.
  3. Select New at the top right.
  4. Set up accounts for income, cash and cash equivalents, and expense.

 

Then, set up a daily sales category to keep your items organized. For the complete guide, please see this article: Record your total daily sales in QuickBooks Online.

 

Once you're done, add the drivers as contractors to track their share or the payments you make to them. For the step-by-step guide, please see this article: Set up contractors and track them for 1099s.

 

When everything is all set, you may also want to check out one of our Help pages as your reference to guide you in managing your business growth and transactions using QBO: QuickBooks Learn and Support. It includes help articles, Community discussions with other users, and video tutorials, to name a few. 

 

Please feel free to leave a comment below if you have other concerns about managing cash transactions in QBO. I'm always ready to help. Take care, and I wish you continued success, @jcgill.