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04/28/11 6:27pm PDT

petty cash

what is the best way to keep track of petty cash?

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You may already have a Petty Cash account.

Click Ctrl+A>see if you have one set up.  If not, right click any account and choose New>choose Bank as the type and treat this account as you would any bank account

If you get the petty cash from your bank account you can go to Banking>Transfer funds to transfer funds from the bank to the petty cash or write a check.

When you spend the petty cash enter the expens by going to Banking>Write checks>choose the petty cash account and enter whatever you wish for the check number.

Enter the proper expense in the drop down on the Expense tab.

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