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1/ I've transferred £200 from main bank account to petty cash and withdrawn £200 by cheque from main account and put in petty cash tin.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
- Where has Portia gone? 485 21
- Associated disposals - Entrepreneur's relief 76 1
- HMRC Scam 146 1
- Partial Exemption relating to a multi academy trust 58 1
- Is it possible to have an excel link to a different dated excel file 425 9
- Taxation of serviced offices 100 2
- AIA - new period 202 1
- Getting fees, getting harder? 3,478 69
- Self assessment question 1,131 48
- Major Works Invoice to Rental Property 353 9
- What is the base cost of this asset for CGT? 254 3
- New Client wants an Income Certificate for a Mortgage 829 20
- Is it worth being a limited company if already a higher rate taxpayer? 122 1
- Dividend Tax Rate 425 8
- Ex Wives Club 526 13
- Sage line 50 payment before invoice date 116 10
- Best Tax / Accounts Production software 152 2
- Career advice for ex HMRC Inspector 1,657 31
- Rogue Accountant 2,733 42
- Vat 268 4
- Services via intermediaries and new HMRC reporting requirements 766
- RTI - duplicate employee record 497
- Pensions Regulator 435
- How hard is it to reduce a code? 391
- Sanzar 293
- Sage Vat return box 2 293
- Digital marketing focus group 263
- How do you do it 259
- Report old income 221
- Kashflow balance sheet difference 219