- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Have a question. I am by no means an accountant and this is certainly not my strong suite but here goes. Our organization (non-profit) held an event where we received and made deposits to our checking account. however in order to cover our silent auction we withdrew cash from the account over the counter at the bank. Question is how do we record this transaction in QB? I looked at some QB videos stating to create a cash bank account or petty cash and use that. Ex. $900 was deposited in the account then $300 was withdrawn. How is this recorded? Any assistance is appreciated!
Solved!Go to Solution.
Solved
Labels:
Best answer April 05, 2020
Solved
Best Answers
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
How to record cash withdrawals in QB 2019
Thanks for giving me the opportunity to help you today,fordacf.
To handle this, you can create a Petty Cash Account or Cash BankAccountand write a check using the said account to record your cash withdrawalsin QuckBooks Desktop.
Here's how to create a Petty Cash Account or Cash BankAccount in QuickBooks:
- Go toListsand chooseChart of Accounts.
- Click theAccountbutton below and selectNew.
- Choose Bank as the account type.
- Click Continue.
- Enter your preferred Account Name (Example: Petty Cash or Cash Bank Account).
- Fill in other necessary information an click Save & Close.
For more insights about managing accounts in QuickBooks Desktop, you can refer to this article:Create, edit, or delete account in QuickBooks Desktop.
Then, you can create a check and make sure to use the Petty Cash as your Bank Account.
Here's how:
- Go toBanking.
- ClickWrite Checks.
- In theBank Accountsection, choose theCash Account.
- Fill in the information.
- ClickSave & CloseorSave & New.
You can read through this article to learn more about managing checks in QuickBooks Desktop:Create, modify, and print checks.
If there's anything else that you need help with, just let me know. I'd be more than happy to assist you further. Take care and have a great day a head.
2 Comments 2
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
How to record cash withdrawals in QB 2019
Thanks for giving me the opportunity to help you today,fordacf.
To handle this, you can create a Petty Cash Account or Cash BankAccountand write a check using the said account to record your cash withdrawalsin QuckBooks Desktop.
Here's how to create a Petty Cash Account or Cash BankAccount in QuickBooks:
- Go toListsand chooseChart of Accounts.
- Click theAccountbutton below and selectNew.
- Choose Bank as the account type.
- Click Continue.
- Enter your preferred Account Name (Example: Petty Cash or Cash Bank Account).
- Fill in other necessary information an click Save & Close.
For more insights about managing accounts in QuickBooks Desktop, you can refer to this article:Create, edit, or delete account in QuickBooks Desktop.
Then, you can create a check and make sure to use the Petty Cash as your Bank Account.
Here's how:
- Go toBanking.
- ClickWrite Checks.
- In theBank Accountsection, choose theCash Account.
- Fill in the information.
- ClickSave & CloseorSave & New.
You can read through this article to learn more about managing checks in QuickBooks Desktop:Create, modify, and print checks.
If there's anything else that you need help with, just let me know. I'd be more than happy to assist you further. Take care and have a great day a head.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
How to record cash withdrawals in QB 2019
Thank you! This resolved this issue! Much appreciated!