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farmgirlkent69
June 19, 2020

Petty Cash Deposit - Cash Only

  • June 19, 2020
  • 2 replies
  • 0 views

Afternoon All.

We are a small charity and I receive weekly small amounts from church services and donations in cash only, which I use to keep petty cash topped up. it never goes into the bank account.  In the past on SAGE i have been able to show this as a cash payment direct to petty cash.  however I am stumped on Quickbooks.  I think where it says transfer from I have to set up a new one.  Would you keep this as cash in hand and bank and just give the name something like service cash?  Hope this makes sense as I am going round in circles trying to work this out. 

    2 replies

    A
    Ashleigh1
    June 19, 2020

    Hello Farmgirlkent69, 

     

    In Quickbooks, you will need to create a dedicated account in the chart of accounts for your petty cash. 

     

    The way to add this account is if you go to the accounting tab, on left-hand side>chart of accounts>new top right> account type leave as cash at bank and in hand - detail type will be cash in hand- name whatever you need to call it like petty cash> save and close. 

     

    Then and transactions you up into Quickbooks like for example man expense and it was suing the petty cash you can now show that the money came from there.  

     

     

     

     

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    farmgirlkent69Author
    June 19, 2020

    Many thanks for this. I’ve already set up petty cash in the chart of accounts with opening balance. I have been using petty cash to post my transactions. What I’m not sure how to do is show money going into petty cash which has not come from the bank account. The money going into petty cash is from donations and keeps petty cash topped up every week. 

    G
    GeorgiaC
    June 22, 2020

    Hi farmgirlkent69, now you have this setup yu can record depositing money into this account using a bank deposit (+ New > Bank deposit).

     

    One the bank deposit, enter the petty cash account under 'Account', select the date this was received, and scroll to 'add funds to this deposit'. On this line, select the account used to track the donation income under 'Account', enter the amount received, and change the 'Amounts are' drop-down to 'No VAT'. Get back to us below if you have any questions on this!

     

    P
    payment after leaving
    June 26, 2024

    Hi KalRe, thanks for reaching out to us here on the Community. Where is the app allocating the payment within QuickBooks?

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