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Cash or cheque receipts and payments

If you pay a supplier or a customer pays you in cash or by cheque you can easily record these transactions in your cash account. When you’re ready to take the money to the bank, you can record this as a bank deposit and move the money to your usual bank account.

Create a new cash account

By default, there’s a cash in hand account already set up for you when you first sign up. However, if you take regular cash payments, for example, because you have a cash register, or till, you might want to create a new account to keep these receipts separate from your normal cash in hand account.

  • 1. Go to Banking, then click New then Bank Account.
  • 2. In the Account Type list, click Cash in Hand.
  • 3. Enter an account name, for example, Cash register.
  • 4. Click Save.

To record cash or cheque receipts

If you don’t create invoices, you can record cash and cheques as bank receipts into your cash account.

  • 1. Go to Banking, then click your cash account.
  • 2. Click New Entry then Money In.
  • 3. If applicable, choose a contact.
  • 4. In the Method list, click the payment method. For example, cash or cheque.
  • 5. Enter the date, reference and amount received.
  • 6. If you need to, amend the details of the receipt, then click Save.

To deposit money into your bank account

  • 1. Go to Banking, then click your cash account.
  • 2. Click New Entry then Bank Deposit.
  • 3. Enter the following information:
Paying in Reference * Enter a reference for the deposit.
Bank Account * Choose the bank account you want to deposit the money into.
Date *  Enter the date of the deposit.
Cash Enter the amount of cash you want to deposit.
Cheques Click Select, then select the cheques you want to deposit and click Save.

* These details are compulsory.

The Cash in Hand Remaining shows the remaining balance in this account.

  • 4. Click Save.

The amount is deposited into the account you specified and the bank balances are adjusted accordingly.

If you delete the bank deposit from either the bank or cash account, the balances on both accounts are adjusted accordingly.

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