[Revised Oct 2014]
Petty cash for purchase of milk etc, can be handled in a number of ways:
1. Set up a stock card
Set up a stock card called “PETTY CASH PAID OUT”, with 'ask price' ticked. You could give it a hot key too. When this is sold, because it has the words "PAID OUT” in the trade name, it will automatically be a negative (–ve) quantity on the new sale screen (because it’s money going out).
You could also create a product group called Petty Cash and add this stock card to it – so it can then be reported on separately.
Also you can see Paid Out amounts (using this stock card) in Report, Sales Report, EOD Report. See below.
2. Unlisted Item
Use the 'unlisted item' key to 'sell' and item called "$20 taken for stationery" with a 'price' of -$20, and on returning with $5 change put another unlisted item through called "Change on petty cash" with a 'price' of $5. At all times the cash in the till will balance, a full record is available, and any failure to return change will be obvious.
3. Manual Notebook
Keep a tin with the money and a notebook for the items. Top this up when necessary by 'selling' an unlisted item of "$100 Petty cash" or for - $100.
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