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 choose 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. This 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 keep them more in sync.
- Click on the Save button when done.