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arkvalleyinfo
December 11, 2018
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Petty cash record keeping question

  • December 11, 2018
  • 2 replies
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I have a Petty Cash bank account in my Chart of Accounts. When the time comes to record my purchases using my petty cash (which is actually an envelope of cash as these are always small expenses) I do so using my Petty Cash register, which is fine. However, I'd like to attribute these expenses to particular jobs and there doesn't seem to be any way to do that...or am I missing it somewhere?

I had a look at the article that's often referenced with this question, but that doesn't seem to apply.

Thanks.

Best answer by QBsguru

Petty cash should be set up as a bank account in QuickBooks.  The balance remains the same unless you change the amount of the petty cash fund.  You can use the register, but I would recommend that you write a check and include in the expense field the appropriate expense account and include the customer:job in that field as well.  You are simply writing a check from one bank account to replenish the till in petty cash.

2 replies

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QBsguruAnswer
December 11, 2018

Petty cash should be set up as a bank account in QuickBooks.  The balance remains the same unless you change the amount of the petty cash fund.  You can use the register, but I would recommend that you write a check and include in the expense field the appropriate expense account and include the customer:job in that field as well.  You are simply writing a check from one bank account to replenish the till in petty cash.

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    arkvalleyinfoAuthor
    December 11, 2018
    does it have to be in the same year that the expenses where paid, or can I write a check in 2017 for 2016 petty cash expenses?
    S
    SkinnyRaven
    December 11, 2018

    I agree with the guru, write checks is the easiest, if you must use the register use the "splits" tab.

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