On 9/3/2019 3:08 PM, Roderick Anderson wrote:
I am looking for suggestions on how to account for cash pulled from the checking account to be used for making change for our fund raising event and then redeposited into checking.
Rod, I have an asset account called 'Petty Cash'. Most of the time it has a zero balance but when I need to fuel my diesel pickup truck (which I drive to/from client sites) I'll withdraw cash from the checking account and enter it in the books as a transfer from checking (credit, withdrawal) into petty cash (debit, addition). When I fill the tanks I'll enter that transaction as a credit (withdrawal) from petty cash and a debit (addition) to the vehicle fuel account. If I were using petty cash to make change what I'd probably do is add all the cash received and add that to the remaining petty cash in the Income 'fund raising event' account. Then when I deposit the cash in the checking account I do the reverse account transfer from one asset account to another asset account. I also do account transfers between the business checking and business savings accounts when I move funds from one to the other. Transfer accounts are your friend for moving amounts between accounts in the same parent account type. Regards, Rich _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
