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Enter for ending balance the amount of real cash remaining. From the Cash on Hand Bank Register, click Reconcile in the upper right.

When you get low on funds and need to write a new check to cash first reconcile the Cash on Hand Bank account. If your initial check to cash was for $100, at all times you should have either real cash or receipts totaling $100. This time when asked for a Category under the Category Details section enter a specific expense account (e.g., office supplies or meals). When selecting Payment Account select the Cash on Hand Bank and fill out the rest of the expense form as normal. Click the “+NEW” button and then Expense.

The receipts are entered into QBO as expenses against the Cash on Hand Bank account. The receipts can then be routed to the person entering data into QBO. When expenses are incurred and cash is spent it is a good idea to obtain a receipt from the vendor or a signed receipt from the employee receiving the cash. Your check to cash should mirror the sample image above. This will debit the cash on hand account, increasing its balance. Select the “+NEW” button in the upper-left portion of QBO and then click “Check.” Instead of selecting an expense account when asked for the Category under the Category Details section, select the name of your Cash on Hand Bank. To start this process, within QBO use the check-writing screen just as you would if paying a vendor.

To fund your petty cash box you will likely withdraw money from your checking account. Select “Bank” for Account Type, “Cash on Hand” for Detail Type, and click Save and Close. To set this up in QBO, click the gear icon in the upper right of the screen and then Chart of Accounts. While not a real bank, that is the account type that must be selected in QBO. We've also added a video below in addition to other visual steps below it. Getting cash is as simple as writing a check to cash, but how do you record the individual cash transactions? QBO makes this and reconciling your cash account easy. For those small dollar amount purchases, it is often common to use cash, whether the cash is used to reimburse employees or to pay for the expense directly.