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Taking Money from Cash register to purchases goods

as10277
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as10277

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Taking Money from Cash register to purchases goods

How do i account for money taken from the cash register in cash and used to pay suppliers. I have never worked with a business who does this on such a large scale.

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MYOB Moderator Neil_M
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Neil_M
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Re: Taking Money from Cash register to purchases goods

Hi @as10277 

 

Although I’d be inclined to have a chat with the accountant over how they want you to handle it, one way to do so would be to try and mimic the real world as much as possible.

 

You could create a new bank account for the cash register and record the cash coming in and out of the cash register, including the invoice payments from the cash register. This would be one way to track those payments in full, and give you a degree of control as at all times the balance of the cash register account should equal the amount of cash in the register

Regards,
Neil

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