Paying with cash


show more Paying with cash provides you with in-depth training on Business. Taught by Bonnie Biafore as part of the QuickBooks Pro 2010 Essential Training show less
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Paying with cash

Petty cash is company cash you use for the occasional purchase you make with cold hard cash. Some companies keep money in a drawer in the office. When employees need cash for a purchase, the person in charge of petty cash doles it out. If you are a company of one person, you might carry some company cash around in your wallet. Either way, you have to record transactions for putting money into the petty cash kitty and then other transactions for what you spend petty cash on. If you don't have an account set up for petty cash, create a bank account in QuickBooks for it.

You've learned how to create accounts in the chapter Setting Up a Chart of Accounts. That way it appears at the top of your Chart of Accounts with other asset accounts, like the Petty Cash account here. When you put money into your petty cash account, you usually take money out of your checking account. Because of that, a transfer is the easiest way to record the transaction. On the Banking menu, choose Transfer Funds....

Paying with cash
Video duration: 2m 53s 3h 45m Beginner

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Paying with cash provides you with in-depth training on Business. Taught by Bonnie Biafore as part of the QuickBooks Pro 2010 Essential Training

Subject:
Business
Software:
QuickBooks
Author:
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