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ledford
Level 1

What is a cash "bank" account in order to buy change for a till with a check

 
4 Comments 4
AlcaeusF
Moderator

What is a cash "bank" account in order to buy change for a till with a check

Hello there, ledford.

 

I appreciate you for reaching out to the QuickBooks Community. I would love to help you with your bank concern in QuickBooks Online.

 

However, I need additional clarification about what you're trying to achieve concerning the bank account and the check. Any further details will ensure a timely solution.

 

If you need further assistance, I'll be on a lookout for your response in this thread.

ledford
Level 1

What is a cash "bank" account in order to buy change for a till with a check

If I buy change at the bank with a check how do I enter that amount? It its not an expense, its not cash on hand really, most of it goes to paying out waitron tips. So it must need to be entered as something thats not expense and not income. Thanks Tony

ledford
Level 1

What is a cash "bank" account in order to buy change for a till with a check

If I buy change at the bank with a check how do I enter that amount? It its not an expense, its not cash on hand really, most of it goes to paying out waitron tips. So it must need to be entered as something thats not expense and not income. Thanks Tony

 
qbteachmt
Level 15

What is a cash "bank" account in order to buy change for a till with a check

Yes, this is Cash On Hand, because first, you Have it on hand: "its not cash on hand really"

 

Step 1, you show you converted funds in the Bank to funds on hand. That is Transfer from Checking to Cash Bank or Petty Cash.

 

"most of it goes to paying out waitron tips."

That's step 2 = Later. Later, you will show you allowed them an advance against Taxable Tips.

 

"So it must need to be entered as something thats not expense and not income."

 

Transfer. Or, Check from Checking and "expenses details" = Cash On Hand Bank. The point is to manage and enter and track all movement of Cash, because that is real money.

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