In order to process petty cash, you first need to set up your RetailManager with a new payment type and export banking group. Then you can record the transaction and account for the expenses when cashing up.
UI Expand
title
1. Set up your RetailManager
Set up a new payment type
Go to the Setupmenu and choose Optionsthen click Paymenttypes.
Click Addand type Petty Cash. See our example below. Image Modified
Set the rounding to your preference, then click OK.
Click Applythen click OK.
A message may appear informing you that the changes you made will only take place when you next open a Sales Screen. Click OK.
If the Sales screen was open, close it and re-open it.
Task 2 -
Set up an export banking group
Note:
UI Text Box
type
note
If you do not use the Accounting Export utility in RetailManager please skip this task.
Go to the Setupmenu and choose Optionsthen click Accounting.
Click the Banking Export tab.
Click Createand name the Export Group PettyCash.
Enter an account number from your Accounts List in your MYOB Accounting software then click OK. See our example below. Note: If you do not have an account number set up in your Accounting software, you may have to create one. It is suggested you link this payment type to an asset account set up as Petty Cash Holding. The money you spend as petty cash will accumulate in this asset account and periodically you should use the Spend Money or Write Cheques feature of your MYOB Accounting package to transfer this money to the appropriate expense accounts. Image Modified
On the right side of the screen under Available Payment Typesclick PettyCash.
Click on the arrow pointing to the left to move PettyCashinto the Associated Payment Typessection.
Click Applythen click OK.
A message may appear telling you that export groups without associated payment types will not be saved. Click OK.
Task 3 - Record the Petty Cash
UI Expand
title
2. Record the petty cash transaction
Go to the Transaction menu and choose Sales.
Enter your Staff number.
Do not enter a Customer or any stock items - go straight to the PaymentDetailsarea.
Enter a negative dollar amount next to the Cashpayment type, for example if you were taking $50 out of the till, enter -$50.
Click Addor press the ENTERkey.
Press F3to type in a comment as to why petty cash is being taken out then press F3again. Image Modified
Scroll through the list of payment types until you find PettyCash then click to select it.It will automatically place $50 into the Paying field.
Click Addor press the ENTERkey.
Click Yesor press ENTERto commit the transaction. See our example below. Image Modified
Task 4 -
UI Expand
title
3. Account for these expenses when cashing up
When cash-up/end of day is performed, you will need to enter the total dollar amounts for Petty Cash recorded in the session. Enter these amounts next to their relevant payment type as shown in the following example.
Image Modified
Note:
UI Text Box
type
note
Further information regarding setting up different payment types and export groups can be found in the RetailManager User Guide.
