Petty Cash Deposit - Cash Only

farmgirlkent69 · ‎June 19, 2020

Afternoon All.

We are a small charity and I receive weekly small amounts from church services and donations in cash only, which I use to keep petty cash topped up. it never goes into the bank account. In the past on SAGE i have been able to show this as a cash payment direct to petty cash. however I am stumped on Quickbooks. I think where it says transfer from I have to set up a new one. Would you keep this as cash in hand and bank and just give the name something like service cash? Hope this makes sense as I am going round in circles trying to work this out.

GeorgiaC · ‎June 22, 2020

Hi farmgirlkent69, now you have this setup yu can record depositing money into this account using a bank deposit (+ New > Bank deposit).

One the bank deposit, enter the petty cash account under 'Account', select the date this was received, and scroll to 'add funds to this deposit'. On this line, select the account used to track the donation income under 'Account', enter the amount received, and change the 'Amounts are' drop-down to 'No VAT'. Get back to us below if you have any questions on this!

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Ashleigh1 · ‎June 19, 2020

Hello Farmgirlkent69,

In Quickbooks, you will need to create a dedicated account in the chart of accounts for your petty cash.

The way to add this account is if you go to the accounting tab, on left-hand side>chart of accounts>new top right> account type leave as cash at bank and in hand - detail type will be cash in hand- name whatever you need to call it like petty cash> save and close.

Then and transactions you up into Quickbooks like for example man expense and it was suing the petty cash you can now show that the money came from there.

farmgirlkent69 · ‎June 19, 2020

Many thanks for this. I’ve already set up petty cash in the chart of accounts with opening balance. I have been using petty cash to post my transactions. What I’m not sure how to do is show money going into petty cash which has not come from the bank account. The money going into petty cash is from donations and keeps petty cash topped up every week.

GeorgiaC · ‎June 22, 2020

Hi farmgirlkent69, now you have this setup yu can record depositing money into this account using a bank deposit (+ New > Bank deposit).

One the bank deposit, enter the petty cash account under 'Account', select the date this was received, and scroll to 'add funds to this deposit'. On this line, select the account used to track the donation income under 'Account', enter the amount received, and change the 'Amounts are' drop-down to 'No VAT'. Get back to us below if you have any questions on this!

LenComm · ‎May 12, 2023

How is it that people can't write sentences that make sense? What are you trying to say??

KalRe · ‎June 03, 2024

I use an external app that send payment. But for payment method: cash, can not be automatically deposited into the petty cash account.

Is there a set up how to make quickbook recognizes the payment method of cash and use the petty cash account automatically. ?

If i use bank rule , will it recognize it .. or the bank rule is only for adding new transactions automatically and not to categorize them only .

John C · ‎June 26, 2024

Hi KalRe, thanks for reaching out to us here on the Community. Where is the app allocating the payment within QuickBooks?

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Petty Cash Deposit - Cash Only