DR all expenses (Postage expense,Misc. expense,John Smith, drawing,Telephone expense.
CR Cash
Debit petty cashCredit cash / bank
receipts 80 Cash Short(Over) 2 Cash 82
Dr Bank Account Cr Petty Cash Account
[Debit] Petty Cash account [Credit] Cash account
Dr. Various expense accounts Cr. Cash (in bank)
Debit petty cashCredit cash / bank
Dr Bank Account Cr Petty Cash Account
Dr Bank Account Cr Petty Cash Account
receipts 80 Cash Short(Over) 2 Cash 82
[Debit] Petty Cash account [Credit] Cash account
[Debit] Petty Cash account [Credit] Cash account
Dr. Various expense accounts Cr. Cash (in bank)
A company check in the amount of $219 would replenish the funds.
establishment of fund: petty cash fund xx cash in bank xx payment of expenses out of the petty cash fund: expenses xx petty cash fund xx
cash book, petty cash book, returns inwards journal, returns outwards journal, yes
Assuming you are asking about an "Imprest" Petty Cash account with a nominal balance of $174, an actual cash content of $25, and receipts representing $137 in legitimate purchases, the entry would be something like the following: Debit Expense Accounts (itemized according to nature of receipts): $137Debit Expense Account "Petty Cash Shrinkage" (or whatever it is called in your system): $12Credit Petty Cash: $149Note: Recognize Petty Cash Expense Debit Petty Cash: $149Credit Checking (or wherever you get the cash from): $149Note: Restore Petty Cash to Imprest level ($174) OR the composite equivalent entry: Debit Expense Accounts (itemized according to nature of receipts): $137Debit Expense Account "Petty Cash Shrinkage": $12Credit Checking: $149 Hope this helps
You can do this through Excel. Just put in the petty cash information how it is and the button will help take care of the rest.