Create a petty cash bank account

If your business has petty cash, we recommend creating a specific bank account to record petty cash transactions.

1. Go to Bank and select Add A New Bank Account.

   

2. Create a new bank account with a suitable Name, such as Petty Cash. This account represents the amount of cash in your petty cash float.

3. The Account Code is the code that will be used on your chart of accounts. This is generated for you, but you can enter a different code.

4. The Reconcile Date should be a date before the first transaction. The Start Balance should be zero.

   If you have any existing cash balance, you can record an opening balance using a journal.

5. The remaining fields can be left at their defaults. Select Save.