Record Cash Advance in QuickBooks

Let’s start our article about the “Record Cash Advance in QuickBooks“.

Assuming you have already set up your employee in QuickBooks, recording a cash advance is simple.

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To Record Cash Advance in QuickBooks: You would need to follow these steps

  • Login to your account,
  • Open List > Chart of accounts > Accounts tab.
  • Now click on the New option.
  • As your account types, choose others and under the assets, tab chooses current assets.
  • Fill in the details of the account.
  • Click on the Save button when you are done.

Cash advance: Create it in your QuickBooks

  • Start by clicking the gear icon. You can find that on the top right panel of your QuickBooks screen.
  • Click on the Settings and navigate to the Chart of Accounts.
  • Click New,
  • Under the categories tab, click other current assets.
  • Keep prepaid expenses as your detail Type.
  • Name your account as employee Cash Advance, this is basically recommended in QuickBooks. As this makes things easy and keeps them more in sync.
  • Click on the Save button when done.

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