Revenue Management
Petty Cash Purchases
Match petty cash taken from a till or cash account against what was bought, using cash purchases.
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About
Petty cash purchases let you match petty cash taken from a till drawer or cash account against what was bought, using cash purchases.
There are three ways to set it up, depending on where petty cash comes from and what your POS can do. Each one fills in the right cash purchase settings by default, so recording a cash purchase works the same way whichever you use.
Related
Ready to start?
Go to the Configuration tab and choose your method.
Configuration
Choose the method that matches how your sites handle petty cash, then set it up. After that, record each purchase as a cash purchase, matched against petty cash purchase items.
Where does petty cash come from?
A cash account
Use this when
Petty cash is taken from the safe float, or another cash account set aside for petty cash. Don't use it if petty cash comes from the till drawer.
How it works
Take the cash
From the safe float or petty cash account.
Record it
A cash purchase matches the amount against what was bought.
Configuration
Uses an existing cash account
This method uses a cash account the site already has. If you need a new one, create a site account.
1
Open the site setup
Log in to the site and go to Company Settings > Site Setup > Site. See site setup.
2
Set the cash purchase settings
On the Revenue Management tab, in the Cash Purchases section, set:
The site account petty cash is paid from.
Turned off.
Turned on.
3
Save
Select SAVE SITE. Repeat for each site using this method.
Cash purchases at this site are paid from the cash account by default. Record each one as a cash purchase.
The till, recorded on the POS
Use this when
Petty cash is taken from the till drawer and recorded on the POS.
How it works
Take the cash
From the till, recorded on the POS.
Record it
A cash purchase matches the amount against what was bought.
Cash up
The petty cash is entered when you complete the cash up.
Configuration
This method needs a Control type site account and a petty cash denomination, then the site's cash purchase settings.
1
Create the control account
Create a chart account with these settings:
A code for the account.
Petty Cash Control
2
Create the site accounts
Create a site account from it for every site using this method.
3
Create the denomination
Create a denomination called "Petty Cash", or similar. Give it the same media type as your Paid Out media, or whichever media you use for petty cash.
4
Add it to the count template
Update the cash count template to add a petty cash line, using the "Petty Cash" denomination and the "Petty Cash Control" site account.
5
Open the site setup
Log in to the site and go to Company Settings > Site Setup > Site. See site setup.
6
Set the cash purchase settings
On the Revenue Management tab, in the Cash Purchases section, set:
The "Petty Cash Control" account.
Turned off.
Turned on.
7
Save
Select SAVE SITE. Repeat for each site using this method.
This method is set up. Record each purchase as a cash purchase, and count the petty cash in the cash up.
The till, not recorded on the POS
Use this when
Petty cash is taken from the till drawer, but it can't be recorded on the POS, or your POS integration doesn't support petty cash.
How it works
Take the cash
From the till.
Record it
A cash purchase against that till matches the amount against what was bought.
Cash up
The petty cash is entered when you complete the cash up.
Configuration
This method needs the media type turned on for cash purchases, a Bank type site account for petty cash to be deposited against, a petty cash denomination, then the site's cash purchase settings.
1
Turn on the media type
Edit the media type used for petty cash, usually Cash, and turn on Cash Purchase Enabled.
2
Create the control account
Create a chart account with these settings:
A code for the account.
Petty Cash Control
3
Create the site accounts
Create a site account from it for every site using this method.
4
Create the denomination
Create a denomination called "Petty Cash", or similar. Give it the same media type as your Paid Out media, or whichever media you use for petty cash.
5
Add it to the count template
Update the cash count template to add a petty cash line, using the "Petty Cash" denomination and the "Petty Cash Control" site account.
6
Open the site setup
Log in to the site and go to Company Settings > Site Setup > Site. See site setup.
7
Set the cash purchase settings
On the Revenue Management tab, in the Cash Purchases section, set:
Leave blank.
Turned on.
Turned off.
The till petty cash is usually taken from. Leave blank to let users choose the till each time.
The payment media used for petty cash, usually Cash.
8
Save
Select SAVE SITE. Repeat for each site using this method.
This method is set up. Record each purchase as a cash purchase against the till, and count the petty cash in the cash up.