Setting Up Petty Cash
Petty Cash requires you to define a cash account. You should create a separate cash account for each currency for which you keep petty cash, and you update the accounts using allocated banking entries. To set up Petty Cash:
1 Create a GL account of type Cash Account for each currency in which you keep petty cash.
2 Create cash in and cash out daybooks and profiles. You define these on the Cash tab of GL Account Create. See
Using Daybooks and
Cash Tab.
3 Optionally, set up all employees who use petty cash as suppliers for petty cash advances and receipts.