Cash Paid Out

Infrequently, it may be necessary to post expense items that were paid with funds from the cash drawer. This feature gives you the ability to post expense transactions from the cash drawer, a bank account, or a credit card account. It's especially useful for posting and tracking non-supplier expenses.

 

Cash paid out to a vendor does not affect the payable account: When entering a cash-paid-out expense to a vendor, it's important to realize that the amount will not affect the payable account for that vendor (you would post a bill for that purpose).

 

Watch the following video as a supplement to reading this article:

 

Cash Paid Out

 

Process a Payable Quick Payment

Follow these steps to process a payable payment:

 

  1. Click the Utilities button in the Home ribbon, then click Cash Paid Out in the drop-down.

  2. In the drop-down, select or enter a Date for the transaction.

  3. If applicable, choose a Vendor. (See the note above about vendor expenses using this feature).

  4. The Entry Number is automatically generated for you, but you can change it if necessary.

  5. Next, choose the Ledger Account to which you want to post this expense.

  6. Optionally, enter a Description.

  7. Choose the Payment Method for this expense.

  8. In the Total field, enter the amount of the expense. If sales tax is a tax credit in your region, then enter the amount before tax (since it will calculate automatically).

  9. If it's necessary to adjust the tax amount, then click the Tax Adjustment button and enter the correct amount(s) in the pop-up window. Click OK to accept the value(s) and close the popup.

  10. Click the OK button to post the expense.

 

To see the expense item that you've created, do the following:

 

  1. Click the Banking button in the Home ribbon.

  2. In the left panel, click Cash Drawer to display a listing of all cash drawer expenses.

  3. Click on the other categories to see the expenses for those categories.