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Petty Cash

Petty cash and Paid-Out transactions are usually used when cash is removed from the drawer to pay a non-guest. This could be a vendor collecting a commission or money given to the pizza delivery man for pizza for the office meeting.

Cash is debited (removed) from the drawer and an account is credited (added) to indicate what the money is used for. You may just use one account called Misc Paid Outs/Petty Cash. This is done on a desk folio. One front desk folio is used per month to keep track of all paid outs for the money and then printed at the end of the month for the auditor.

Create the desk folio once a month:

First, create a desk folio each month. The "Folio ID" could be "MAY" or "JUNE" and the Folio Name would be "Paid-Outs for May"

Entering a Paid-Out transaction:

  1. Select the Desk Folio
  2. Add/Insert Transaction
  3. Select Account 299 (Refund/PaidOut)
  4. Enter Amount
  5. Enter voucher reason
  6. Select OK
  7. Add/Insert Transaction
  8. Select Account 500,501,502,etc
  9. Enter same amount
  10. Enter same voucher reason
  11. Select OK

Closing out Desk Folio:

End of month, auditor prints Paid-Out desk folio and attaches to audit