How do I account for cash income paid into Petty Cash?

This article explains how to record cash income into a petty cash account within ExpensePlus.

You may receive low-value cash income and choose to pay this into your petty cash tin as opposed to making a bank deposit in your current account. Despite the low value, it is important that this income is recorded correctly. 

Recording petty cash income

Users who have permission to use Petty Cash in ExpensePlus can record income for the following purposes directly into a Petty Cash account of their choosing via the Petty Cash module:

• Named Donations
• GASDS Donations
• Invoice Payments
• Any other income

The screen to record Petty Cash income follows the normal format for recording Mixed Income.

You can tick the box under the date field to provide a file attachment as income documentation. This is optional.

Recording negative petty cash income

On occasion, you may need to record a negative petty cash income transaction. For example, if you have previously recorded petty cash income but have since learned that some of the notes received are counterfeit. You need to record this reduction in petty cash, but this is not expenditure. In which case, you can record this as negative petty cash income. This will need to be recorded as 'Other Income'.

To help you better understand the Petty Cash module as a whole, please visit the module overview page here.