Hello Bruce
I have introduced a petty cash system to the office whereby there is a receipt book.
I have transferred £100.00 from the bank account 1200 to the petty cash account 1230.
Items bought with petty cash are entered from the petty cash account using the correct nominal codes for whatever they are ie milk goes to 8205 Refreshments. Am I right just moving the imprest amount each month from the main bank account to bring the petty cash balance to £100.00.
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Need integration?
- - - - - - - - - - - - - - - - - - with your shipping system - website - invoicing system - crm - cms - manufacturing - order import - back to back orders..
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Petty Cash transactions
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brucedenney
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- Joined: 28 Feb 2006, 09:56
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If that is what you do in real life then yes, that is what you do in Sage.
You do not have to bring petty cash back to the exact £100 float all the time(it is a pain, getting change etc). You can just top it up with £50 every time is goes below £50.
The only thing you need to do is check that what is in the "tin" adds up to the same balance that is in Sage.
You do not have to bring petty cash back to the exact £100 float all the time(it is a pain, getting change etc). You can just top it up with £50 every time is goes below £50.
The only thing you need to do is check that what is in the "tin" adds up to the same balance that is in Sage.
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