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Petty Cash - replenishment

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Trusted Cover User AWD
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AWD
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Petty Cash - replenishment

I don't have acces to the bank account.  I simply record the financial transactions in Accountright.

A couple of customers pay their bills using cash, whereby they received an invoice including GST (say $55 inc GST).

Can I use the cash provided (e.g. $55) to replenish Petty Cash, if so what process do I use?

 

Regards

Peter

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Ultimate Partner GDay53
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GDay53
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Re: Petty Cash - replenishment

@AWD

 

Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

 

In the Chart of Accounts in the Assets area and useually listed under Current Assets should bea bank type account called Petty Cash 1-1XXX .

 

When you receive the payment from the customer go to Sales Command Centre and open Receive Payments.

At the top the Deposit to Account will need to be changed to the 1-1XXX Petty Cash account.

Enter the customers name and proced to receive the payment as normal.

The money will now be in the Petty Cash account and can be used to pay for any petty cash purchases.

 

If my response to your query and has helped, please mark my post as a solution to help others in the future.
Graeme Day
Registered BAS Agent #24745540
First Class Accounts Clayfield
Mobile: 0402 841 627
gday@firstclassaccounts.com
MYOB Certified Consultant
MYOB Diamond Partner
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