Reply
This thread is now archived and closed to new comments.
If you have a question please post a new topic.
Cover User
criscaro
Posts: 1
Registered: ‎23-07-2012
Australia
0 Kudos

Entering transactions through a cash register

Hi

 

We have a new retail business with cash sales and payments. I have used MYOB for a not for profit organisation, but not for a shop. Could someone please explain how to record cash in and out and also taking amounts out to bank, without incorrectly doubling our income totals? I have googled and looked for the answer, but keep seeing the answer that we no longer need the cash drawer and to use undeposited funds, But this does not help, when we pay some suppliers cash and are on a cash accounting system.

 

C

Please use plain text.
MYOB Moderator
Barry_C
Posts: 2,946
Registered: ‎09-06-2011
Australia
0 Kudos

Re: Entering transactions through a cash register

Hi Criscaro,

 

If you are paying some suppliers in cash, and others from your bank account, you will need to setup a petty cash account.  This means when you're paying bills, you could select if it comes from your main account or petty cash. 

 

The below support note will assist you with setting up a Petty Cash Account, and also includes how to add cash in and out.

 

Setting up Petty Cash

 

Regarding being on a Cash Accounting system, you can run your profit and loss on a cash basis.  You can find the Profit and Loss cash report through your reports area >> Accounts >> Small Business entity.

Kind Regards

Barry
MYOB Client Support

Want to recognise a useful post?
Click the star to give Kudos

Please use plain text.