The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Petty Cash Query (Sage)
Post Info TOPIC: Petty Cash Query (Sage)
Rainoo


Veteran Member

Status: Offline
Posts: 45
Date:
Petty Cash Query (Sage)
Permalink Closed

Hi there,

I have a question regarding petty cash.  If I want to show cash going into petty cash from the business owner, I was going to use Bank Receipts to record the funds.  If I do this, which general ledger do I use to record this?  I was going to use the drawings nominal code 3050 for this, but I am not sure even if Bank Receipts is the correct way to do this?

Many thanks if you are able to help with this!

Rainoo :)



__________________
RobH


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

That would work but I personally prefer to set up an account called 'capital introduced' rather than having a credit balance going into drawings, though many do this. Using the bank receipt is just like posting a journal, dr bank, cr capital introduced...

__________________
Rob
www.accounts-solutions.com
Rainoo


Veteran Member

Status: Offline
Posts: 45
Date:
Permalink Closed

Hi Rob,

Thank you for your reply, I will set up a capital introduced ledger and use this for these funds.

Thank you for your help!

Rainoo :)

__________________
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Petty Cash Query (Sage)
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About