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.
You can even give us a call at our QuickBooks Consultant number and talk to our Experts now.
