Banking > Tracking petty cash expenses
Most businesses keep a small amount of cash handy at the office for miscellaneous expenses—postage, staff amenities and so on. You can track this petty cash amount separately by using a petty cash account and allocating any miscellaneous expenses to that account.
Check your accounts list for an account named ‘Petty Cash’. If it doesn’t exist, you need to create it. For information on creating an account, see Set up accounts.
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In the Transfer Money From field, type or select the account from which the funds will be paid.
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In the Transfer Money To field, type or select the petty cash account.
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In the Amount field, type the amount to be transferred.
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Click Record.
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You can replenish your petty cash account the same way.
Let’s assume you spent $90 on stationery from your petty cash float. You would record this transaction in the following way:
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In the Account field, type or select the petty cash account.
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Enter the date and amount of the expense. Enter the expense as a line item and allocate it to the relevant expense account (in this example, the Office Supplies account).
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Since you do not need to print a cheque for this transaction, select the Cheque Already Printed option.
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Click Record.
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