How can I create "Petty Cash Account" in chart of Account?

Hello there, ejaz. I'm here to help you how to set up a Petty Cash account in QuickBooks Online. 

To establish a petty cash account, follow these steps: When transferring funds from your bank account to petty cash, ensure that the transaction is reflected in this account.

Here how:

1. Go to Settings ⚙ and select Chart of Accounts.
2. Select New.
3. From the Account Type dropdown▼, select Cash and Cash Equivalents.
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.

If you need further guidance to use the Perry Cash account, follow the instructions to this page: Set up and use petty cash in QuickBooks Online.

I'm also adding this article for more information about handling your chart of accounts in QuickBooks Online: Learn about the chart of accounts in QuickBooks Online.

Please feel free to return to this forum if you encounter more QuickBooks-related questions or concerns. We're here 24/7 to assist you with any queries you may have. Stay safe!