HELP ON PETTY CASH PLEASE
I am am recently 'qualified' book keepr in my first post and have constant headaches!
I have transfered monies from main bank account to petty cash account. (new business so starting from scratch)
I need to know what to do next.
Do I wait til end of month and post at this time.
In plain english please:
1/ I've transferred £200 from main bank account to petty cash and withdrawn £200 by cheque from main account and put in petty cash tin. I now have, for example, £6.00 stamps, £5.00 petrol and £10.00 stationary, how do I post now.
I presume petty cash - supplier payment to correct nominal codes (which takes the monies from petty cash and allocates to correct nominal codes but is that it? i am used to doing manually and always thinking about double entry and surely there must be another entry?
Sorry if I sound a bit thick but really trying to learn as quick as possible
Thank you in advance for your replies
- How to complete annual VAT return online? 51 2
- Private Residence Election for CGT purposes 31 2
- Standard 'email' template system 367 7
- VAT relief eligibilty for charity buying minibus 141 1
- I had a baby! Small practice recruitment - where would you look? 570 7
- Travel expenses 438 16
- Any Scottish members out there? 4,475 142
- Reclaim vat on invoice 175 3
- What's your best practice shortcut or 'hack'? 1,115 29
- Shadow director or alternative? 265 3
- Computerised Accountancy Software 282 1
- FRS VAT bad debt relief? 496 13
- Bankruptcy 431 10
- P11d Van - no private use 442 12
- Expanding To UK From USA 152 2
- How do I account for trees?! 294 1
- Foreign Dividends - tax repayment claim 504 17
- German VAT charged by US Supplier 241 5
- Abbreviated Accounts 354 4
- Accountancy fee tax return 586 6
- Raiders of the Lost Tax File 990
- Employment related securities question 504
- Looking for a qualified accountant 329
- Chartered Accountant in County Down N.Ireland 309
- IPP (International Pension Plan) income 277
- National Insurance 214
- valuation of intangible asset FRS10 and FRS20 205
- Joint construction arrangement CIS and VAT 195
- Cass 5 FCA Client Money Software recomendation 191
- Payments on account coded out?? 152