I have applied multiple petty cash buys as ‘cash on hand’, which shows the cash on hand account as a negative, I then applied a deposit as ‘cash on hand’ but this hasn’t credited the cash on hand account and is still showing the cash on hand account as being negative when I thought the deposit would then take the account into a positive. What am I doing wrong?
You're not doing anything wrong, @neesatesandletti. I can assist you in ensuring that the cash on hand is positive in QuickBooks Online (QBO).
The balance may still be negative because the amount of money going out is greater than the deposit coming in. You can make a bank deposit to ensure a positive cash flow. I'll guide you on how to do that:
However, if you confirm that the deposit is larger than the negative balance, you should double-check the deposit, review its details, and ensure it has been posted to the correct account.
For more information, you can visit this article: Record and make bank deposits in QuickBooks Online.
Nevertheless, you might also consider referring to this article in the future for assistance with categorising transactions uploaded to QuickBooks Online: Categorise online bank transactions in QuickBooks Online.
Feel free to contact me if you have any questions about managing your bank. I'm always here to help.
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