Making sure you enter your cash receipts in properly is very important because as business owners and bookkeepers, we want to make sure we don’t miss any write-offs right?!?

In this video, I’ll be sharing with you a few ways to enter your petty cash/cash draw transactions including how to add deposits and enter your expenses.

I’ll also cover how to enter expenses the owner gives you whether they/you want to add them as owner contributions or if they want to be reimbursed through a check.

Are you ready to jump in… don’t forget to grab a pen and paper to take notes 📝.

Let me walk you through it step-by-step so that you’re confident entering cash expenses in QuickBooks.

If you’re looking for the Desktop version of this video click here

**Grab your Receipts

Setting up Petty Cash Account in Chart of Accounts

  • Go to Accounting
  • Chart of Accounts
  • Click New
  • Choose banks
  • Save Account under – Bank Accounts
  • Tax Form Section
  • Cash on Hand
  • Account Name
  • Description
  • Click Save

Entering Transactions

  • You can go straight to the Register from the Chart of Accounts
  • Add details
    • Date
    • Account
    • Payment amount
    • Account (Sub-account)
  • Click Save

Or

  • Go up to +New and enter Expenses

 

Putting Money in Petty Cash Account

  • In the Register, choose add deposit
  • Add details
    • Date
    • Account
    • Deposit amount
    • Account (Sub-account)
  • Click Save

Entering Expenses (Journal Entry)

  • Go up to +New and choose Journal Entry
  • Add Accounts, Debit and Credit side amounts
  • Click Save

Add New Entering Check back

  • Go up to +New and choose Check
  • Add details
    • Payee
    • Bank Account
    • Payment Date
    • Category
    • Amount
  • Click Save and Close

______________________

Have you been using QuickBooks for a while, but when you pull a report you just don’t understand what it’s saying?

Does the idea of going to see your tax professional sound a little stressful and maybe cause you to feel like you want to pull your hair out?

I would love for you to join me on my customizing QuickBooks workshop.

I’ll be sharing:

  • The most efficient way to track your Income and Expenses.
  • How to create accurate reports in order to view how your business is actually doing and stop second-guessing yourself.
  • Where to get the data you need to make the best decisions to grow your business.

And the #1 SECRET to feeling confident at your next tax appointment.

I’m excited to see you on the workshop!

Click here to save your seat  → Join My Free Workshop!

 

🙋🏻‍♀️ I’d love to connect with you on Instagram or Facebook

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