How to enter petty cash in bank account

Basically, you would create a new account in your Chart of Accounts using Bank as the account type, and calling the account Petty Cash.

Then in your check register, enter the date you are transferring funds from your checking account into the Petty Cash fund. Leave the check number field blank, and you can leave the Payee field blank (or use an Other Name called Cash). In the Payment field, enter the amount you are putting in the Petty Cash fund to start it. In the Account field, enter Petty Cash. In the memo field, enter something like "To establish petty cash fund". Click Record. This transaction will show the funds taken from the checking account, and if you open the Petty Cash register, you will see the funds entered as a deposit to the petty cash account.

For more information on utilizing the petty cash account in QuickBooks, click on Help on the menu bar in QuickBooks, and click on QuickBooks Help. Click on the Search tab, and in the search field, enter Petty Cash. Click the arrow to the right of the search field, and QuickBooks will display the topics concerning petty cash.

Does this help you?

Andrea

One thing you forgot to mention is that when you create the Petty Cash account as a bank, you must leave the routing number and account number blank.

Since the petty cash is not a "true" bank account, but only specified as a bank account type, there wouldn't be any reason to fill in a routing number and account number.

Andrea