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petty cash

sommet_123sommet_123 Member Posts: 1

Hi All,

I would much appreciate if anyone can advise me on my accounting record..

ex:

  1. withraw 100 for patty cash (in what category do i hv to record)
  2. then the expenses from patty cash I keep the receipt as expenses
  3. how to synchronize the account, coz the 1st one patty cash i hv recorded as withrawal.. then the expenses receipt I hv recorded as expenses.. it seem twice record withrawal

thanks

edited July 16, 2019 in Accounting Technical Support

Comments

  • Ellie_Writes_ThingsEllie_Writes_Things Member Posts: 42 ✭✭

    Hey @sommet_123. That's what the "Cash on Hand" account is for. When you take out money to use a petty cash, you make a transfer from your bank account to Cash on Hand.

    You would just record those expenses to Cash on Hand after that.

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