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Level 1

I have cash sales for salon business.. I do not deposit the cash into bank.. I also pay out cash in salary ... how do I record these transactions

 
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QuickBooks Team

I have cash sales for salon business.. I do not deposit the cash into bank.. I also pay out cash in salary ... how do I record these transactions

Hello, @borisinternation.

 

If you don't want to deposit your sales into your real bank account, you can just create a wash or clearing account for you to deposit the sales. Then, use that clearing account when writing a check for the salary.

 

To create a clearing account:

  1. Sign in to your QuickBooks account and go to Accounting on the left-side panel.
  2. Select Chart of Accounts.
  3. On the Chart of Accounts screen, click the New tab.
  4. Choose Bank for the Account Type. You may choose any detail type you want for your clearing account.
  5. Type in the Name for the clearing account.
  6. Make sure you do not type in any amount on the balance before clicking Save and Close.

To record the sales, enter a sales receipt, then deposit it to the clearing account.

 

  1. Tap on Sales Receipt under Customers.
  2. Fill in the necessary information, then select the clearing account created under the Deposit to section.
  3. Click on Save and close.

If you'll record the payout cash for salary, enter a check and select the clearing account where you deposit the sales amount.

 

As always, feel free to read our help articles in case you need tips and related links while working with QuickBooks in the future.

 

Reach out to me if you have any other questions. I'm a post away to help. Have a good day!

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Level 15

I have cash sales for salon business.. I do not deposit the cash into bank.. I also pay out cash in salary ... how do I record these transactions

@borisinternation 

 

Don't name the new bank account clearing, that makes absolutely NO sense at all.

Name it cash, that is what it is, an account to track cash received and spent.

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