Receiving or Dispensing Cash

As you hand out or receive cash, you have to update the paper ledger AND record the transaction in QuickBooks.

Follow these steps:

1. Retrieve the cash bag.

2. Record the transaction on the paper ledger in the cash bag. If you need to, print another Petty Cash Ledger.

3. If dispensing cash: 

   • browse to the Expenditure page in QuickBooks

   • click on "New Transaction" and select "Expense"

   • record the expense making sure that you specify "10900 Petty Cash" as the Payment Account

   • click on "Save and close"

4. If receiving cash:

   • browse to the Sales Receipt page in QuickBooks

   • record the receipt making sure that you specify "10900 Petty Cash" as the Deposit To account.

   • click on "Save and close"

5. Return the cash bag.