*This post is locked for comments
Hi Frank,
I'm trying to setup the same system and have a question for you:
I want the transaction that moves cash from our checking account to petty cash to be saved in a batch. Bank Transfers won't let me save to a batch, Bank Transaction Entry won't let me save to a batch.
Do you have any advice?
Perhaps this is why everyone is using a placeholder vendor called "Petty Cash" and using Payables Transaction Entry?
Thanks!
Alicia
That makes sense Philip. I didn't realize you're in the UK. The Checkbook is a good idea.
Dear Frank
Thanks for the suggestion which I have just tested. The only shortcoming for UK purposes is that the value of purchases and VAT need to be recorded for the VAT return and I don't think that this process does this - but VAT is another challenge!
Have also found an alternative solution on 'eggheadcafe' which was to create a Checkbook linked to the petty cash account in the GL. Enter a Payables Transaction for a vendor called Petty Cash and enter a cash amount for the Petty Cash Checkbook. (Appears to work except that I have mislaid the transactions between Purchases and GL!)
Thanks for your advice - greatly appreciated.
Regards
Philip
You can handle this with a Bank Transaction (Transactions>Financial>Bank Transactions). Use the 'Withdrawal' transaction Type.
Hope this helps,
Hi from a new boy on the block.
Did you ever get a response to your enquiry or how have you resolved your dilemma since I am setting up GPat present and have the same query?
Thanks
Philip
André Arnaud de Cal...
292,031
Super User 2025 Season 1
Martin Dráb
230,868
Most Valuable Professional
nmaenpaa
101,156