1. Go to the Accounts command centre and click Accounts List. 
2. Click the Asset tab. 
3. Click New.
4. Select Bank in Account Type drop-down menu. In BusinessBasics, select the Detail Account (Postable) option.
5. Give the account a unique number that suits your account list.
6. Name the account Petty Cash
7. Click OK.

The window below shows the setup of an example Petty Cash account

If you are setting up a new company file and you are currently using a physical 'petty cash tin', enter the opening balance as follows:

1. Go to the Setup menu and choose Balances.
2. Click Account Opening Balances.
3. Locate the Petty Cash account and enter its Opening Balance.

Note: For detailed information on entering cheque account Opening Balances, please refer to our page on your first bank reconciliation.

If you're using an existing company file, petty cash is usually started with money withdrawn from the cheque account. To reflect this in your company file, follow these steps:

1. Go to the Banking command centre and click Spend Money. In BusinessBasics, go to the Command Centres menu and choose Banking then choose Spend Money.
2. Click the Pay From Account option and select your cheque account in the adjacent field.
3. Enter details such as Date, Amount, Cheque No and Memo.
4. In the Acct# field in the lower portion of the window, select your Petty Cash account.
5. Make sure you select N-T in the Tax column.
6. Click Record. See our example below.
    

Click Reimburse to see a list of all the job purchases and expenses you have assigned a job number to, that can now be reimbursed on the sale.

You should enter the credit limit you've assigned in each customer's card. If you want to stop sales from being recorded for customers who have exceeded their credit limit, you can place them on hold.