Recording Petty Cash Transactions

Petty cash refers to small amounts of cash that is kept aside for operational expenses or logistics. Petty cash can be used to pay for small purchases which require cash, such as payment for office lunch, coffee supplies, or for parking.

Every transaction including addition of money to your petty cash register or a purchase made using petty cash must be recorded in the same way as other business income and expenses. Entering petty cash transactions in Zenoti help track these expenses, so they can be used to offset income for business tax purposes.

In this article you will learn to record the following petty cash transactions:

  • Expense: To record a petty cash expense transaction (any amount that you have spent).
  • Receipt: To record any money that is added to your petty cash register.
Note: To record a petty cash transaction, you must have View permission enabled for PettyCash for your role at the Organization level (ADMIN >  SECURITY ROLES > Role Name > PERMISSIONS > ADMINISTRATOR.

To record a petty cash transaction, do the following:

      1. In the Appointment Book, click an open slot and click Petty Cash.
        The Petty Cash Ledger opens.
      2. Make an entry for petty cash expense transaction as follows:

        1. Entry Type: Based on the type of transaction, select one of the following options:

          • Expenses: Select this option to record a petty cash expense transaction (for example, cash spent for staff lunch).

          • Receipts: Select this option to record any money that is added to your petty cash register (for example, if you are transferring Business cash to petty cash).

        2. Source: This option is available only when you select Entry Type as Receipts
          You can use this option to specify the source of money for petty cash. You can select one of the following options:

          • Business Cash: Select this option if you are going to add some money from the cash register (business cash) towards petty cash balance.

          • Other: Select this option if you are adding funds from any other source (other than business cash).
            Example: If you or any of your co-workers have paid with your own money, you can select this option.

        3. Category: Every purchase made using petty cash must be recorded against a category for better tracking of expenses. Select an appropriate category from the list to record petty cash expense or addition of funds (receipts). For information on how to create petty cash categories, see Creating Petty Cash Categories.

        4. Description: Enter a short description for the expense or receipt.
          Example: Payment for coffee supplies.

        5. Amount: Enter the amount that you wish to give account for as an expense or receipt.

      3. Click Add.
        The petty cash expense or receipt is added and the current balance that is next to the Amount field is updated.
      4. Click Save.
        The petty cash transaction is saved in Zenoti.

See Also

 

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