Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowI have employees who took a trip recently. We withdrew 1500 cash from checking. They just returned with approximately 1100. I entered manual expenses from receipts but I'm not sure I'm doing it correctly. When I deposit the remaining 1100 it will show a difference of 400 from the initial withdrawal and if i add the individual expenses that will add another 400 debt. What is the best way to log all this?
Solved! Go to Solution.
@Nsfd601 wrote:
I have employees who took a trip recently. We withdrew 1500 cash from checking. They just returned with approximately 1100. I entered manual expenses from receipts but I'm not sure I'm doing it correctly. When I deposit the remaining 1100 it will show a difference of 400 from the initial withdrawal and if i add the individual expenses that will add another 400 debt. What is the best way to log all this?
Create a cash type bank account in the chart of accounts, transfer the original amount to the cash account
write checks, do not print, on the cash account for the expenses
transfer the balance in the cash account back into the bank account
done
There are two ways on how we can record this, Nsfd601.
We can either record it as an expense transaction and then we'll add the $400 as another line item.
Just a heads up, I'd suggest reaching out to your accountant to help you decide on what's the best account to use.
Then, here's how to record the expenses:
I've also added an article for more information when recording an expense transaction: Enter, edit, or delete expenses.
Please let me know if there's anything else you need. Thanks for dropping by and stay safe!
@Nsfd601 wrote:
I have employees who took a trip recently. We withdrew 1500 cash from checking. They just returned with approximately 1100. I entered manual expenses from receipts but I'm not sure I'm doing it correctly. When I deposit the remaining 1100 it will show a difference of 400 from the initial withdrawal and if i add the individual expenses that will add another 400 debt. What is the best way to log all this?
Create a cash type bank account in the chart of accounts, transfer the original amount to the cash account
write checks, do not print, on the cash account for the expenses
transfer the balance in the cash account back into the bank account
done
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.