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Established Community Backer ***

Re: Daily Sales Summary, how to enter on account charges for customers and employees

I explained that there are Two Ways to do this: "it says nothing about on account charges"


Either it's Not being tracked by Names in QB = generically Other Current Asset. Or it is Not included in the Summary, because you need to make individual Invoices.


I stated you flow the data to meet your needs. I don't put Merchant CC settlement to UF or to Checking. I put it into a Bank Type, so that you can then enter the Fee you incurred from them, and the actual settlement to Checking is a Transfer: From Merchant CC Bank in QB, to Actual Operations Checking. And I don't use UF when in reality, the funds are "in the back" because you need to manage the movement of funds in the business during the dates In Between your actual deposits = Cash On Hand or Safe as a Bank type of account in QB.


Let me give you an example from Two Retail establishments I helped. They left funds in UF, and then the Deposits were never that exact amount, and that means UF should not be used, since it expects the same Amount as the transactions In, will be the transactions selected For Deposit; not Partial Amounts. And in the between dates, they used the Cash On Hand to make change, and what do you know? Once we established tracking Cash using a Bank Type of Account for Cash still held on site, Every once in a while, they would be Short by $20. And it was always when a certain person was on duty.


You want to always track all movement of Money, because, well, that is Real Money.

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