Petty cash short as cash deposited twice
Hi, I deposited $130.50 from petty cash to our bank account. But Forgot to deposit in MYOB (prepare bank deposit). The next day I went for holiday leaving a temp behind. When I came back today I ...
Forum Discussion
Hi yoshu
To account for the first deposit so that you can reconcile your bank account you can record a Transfer Money transaction.
Accounts>Transfer Money
Transfer from account: Petty cash
Transfer to account: Bank account
Please let me know if you need further help
Hi Tracey,
I need to physically put $130.50 in petty cash as well. We maintain a float of certain amount in petty cash? So once I withdraw money from bank account. I do another transfer money transaction from bacnk to petty cash?
This should work. Thanks Tracey.
Let me know if I am wrong please.
Hi yoshu
You are correct that a Transfer Money from the bank account to petty cash will account for you maintaining the float. Your bank account will show a withdrawal, both on the statement and in MYOB, to account for you adding cash back to the float.
Let me know how you get on
Thank you so much Tracey
