Keep track of petty cash
Description

Your business may have a petty cash account for everyday purchases or costs. This can include office supplies, parking charges and petrol.

Petty cash transactions can often be cash only. You may also use them reimburse employees or to buy items for small amounts.

We recommend that you create a special petty cash bank account to track these payments. This will also help you report and manage how you spend your petty cash.

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What you need to know

Here we will explain how to set up a bank account in Accounting Start to represent your cash expenses. Rather than being an actual bank account, we will set up a special bank account for cash only.

As this is an account for cash only, you can't reconcile the bank account.


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