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.

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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