In this article you will learn how to set up a petty cash in Quickbooks Online. To know more call Quickbooks Support.<\/p>\n
A convenient supply of cash that can be used to make payments immediately for goods and services is known as petty cash. To control the petty cash box you should designate one person at your company and keep track of each and every withdrawal.<\/p>\n
How To Set Up A Petty Cash Account<\/strong><\/p>\n Within your Chart of Accounts,you can create a Petty Cash account. This account acts like a bank account with its own register. You will see the deposit in its register when you pull cash from your bank account into Petty Cash.<\/p>\n \u2022 Click on the Gear icon present on the Toolbar.<\/p>\n \u2022 Choose Chart of Accounts under your company.<\/p>\n \u2022 Click on New.<\/p>\n \u2022 Choose Bank (or Cash or Cash equivalents) from the Account type drop-down.<\/p>\n \u2022 Choose Cash on Hand from the Detail type drop-down<\/p>\n \u2022 For the account name, choose Petty Cash.<\/p>\n \u2022 Enter the balance at that particular date. Leave the opening balance at zero if the account is new. (Once you move money from the check account by writing a check or transferring fundsthe opening balance will be created).<\/p>\n \u2022 Click on Save and close.<\/p>\n How to control cash flow?<\/strong><\/p>\n