Academy

Run a petty cash box

Create a petty cash box, top it up, pay small expenses from it, count the cash and read its statement.

Expenses & Petty Cash 5 steps Expenses - Manager
Draft lesson. The steps are checked against the live system when the video is recorded.
Where to find it ExpensesPetty Cash

How petty cash works

Each petty cash box is a place where cash is kept - head office, the warehouse. Every box gets its own cash account and its own cash journal (PC1, PC2 and so on), so its balance is always visible in the books.

Steps

  1. Open Expenses > Petty Cash and click New Box. Name it and choose who holds it. The account and the journal are created for you.
  2. To add money, enter the amount, choose where it comes from (for example the bank journal) and the date, then click Top up & Post.
  3. To pay an expense from the box, choose Company paid on the expense report and pick the box under Paid from.
  4. To count the cash, enter the amount actually in the box. Any difference is posted to the account you choose and listed under Cash Counts.
  5. Open the Statement to see every top-up and payment with a running balance.

Note

A box cannot pay out more than it holds. Archive a box once it is empty and no longer used.

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