QuickBooks Online Petty Cash

Activate Petty Cash in QuickBooks Online

If you run a small business, you may have been using QuickBooks to manage your petty cash. Petty cash is a fund that you use to cover short-term expenses. You can use QuickBooks Online to create and manage your petty cash account and read how to activate petty cash in QuickBooks Online.

With QuickBooks, you can complete all your accounting work like payment of liabilities, real-time tracking of inventories, and recording of daily financial transactions all with ease. The software has the full potential to tackle all kinds of financial activities and also provides a concise view of the business’s current status in the market through the swift and automatic generation of year-end reports.

How to Activate Petty Cash in QuickBooks Online

  • Login to your QuickBooks accounts and locate the Gear icon.
  • Choose the Chart of Accounts tab.
  • Click on the New tab, now you can find that in the top right corner of the screen.
  • This will open up a different window,
  • Choose your type of account. It can be either bank or cash.
  • Now you would need to select Cash on Hand as your Detail Type.
  • Now name your account Petty Cash.
  • Enter the amount and the date you want to register in your records. You can even leave your account as NIL, it is a new account and you don’t have any cash in hand.
  • Click on the Finish tab.

If you feel that the above steps are still not enough to resolve your query Petty Cash in QuickBooks then you can get all the help right on a chat. You can talk to our QuickBooks specialists and expect all the help throughout the day.

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