When you spend petty cash, record it in your cash account. This keeps your balances accurate and helps at tax year end. By default Sage Sole Trader provides a cash account for you in Banking. When you're processing these cash transactions, select the source as Cash account. If you take petty cash for personal use, don't record it as a business expense. Categorise the transaction as Non-business money out. For more information, see Owner drawings. Related articles |