Petty cash short as cash deposited twice

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Experienced User yoshu
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Petty cash short as cash deposited twice

Hi,

 

I deposited $130.50 from petty cash to our bank account. But Forgot to deposit in MYOB (prepare bank deposit). The next day I went for holiday leaving a temp behind. When I came back today I found the temp had deposited $130.50 from the petty cash to the bank again and cleared it from Prepare bank deposit. Obviously my petty cash is short but also my bank statement wont reconcile. Bank statement shows $261 but MYOB only shows $130.50. How do I fix this?

4 REPLIES 4
MYOB Moderator Tracey_H
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Re: Petty cash short as cash deposited twice

Hi @yoshu 

 

To account for the first deposit so that you can reconcile your bank account you can record a Transfer Money transaction. 

Accounts>Transfer Money

Transfer from account: Petty cash

Transfer to account: Bank account

 

Please let me know if you need further help

Cheers,
Tracey
Previously @bungy15

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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Experienced User yoshu
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Australia
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Re: Petty cash short as cash deposited twice

Hi Tracey,

 

I need to physically put $130.50 in petty cash as well. We maintain a float of certain amount in petty cash? So once I withdraw money from bank account. I do another transfer money transaction from bacnk to petty cash?

This should work. Thanks Tracey.

Let me know if I am wrong please.

 

MYOB Moderator Tracey_H
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Accepted Solution Solved

Re: Petty cash short as cash deposited twice

Hi @yoshu 

 

You are correct that a Transfer Money from the bank account to petty cash will account for you maintaining the float.  Your bank account will show a withdrawal, both on the statement and in MYOB, to account for you adding cash back to the float.

 

Let me know how you get on

 

Cheers,
Tracey
Previously @bungy15

MYOB Community Support

Online Help| Forum Search| my.MYOB| Download Page

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Experienced User yoshu
43 Posts
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Re: Petty cash short as cash deposited twice

Thank you so much Tracey

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