"Less Cash Received" question

Discussion in 'Business Operations' started by qualitycut, Feb 23, 2008.

  1. qualitycut

    qualitycut LawnSite Member
    Posts: 102

    How would I record in my accounting for "less cash received" Ex. check was for 2038.00 and I deposited the 2000.00 and got 38.00 back in cash. When you make a deposit in quick books you can send "less cash received" to an account.
    Any suggestions?
     
  2. maybe try cash withdrawal?
     
  3. qualitycut

    qualitycut LawnSite Member
    Posts: 102

    Is there anyway to make it as reimbursement? I have plenty of receipts for things I have purchased with cash.
     
  4. rmmllc

    rmmllc LawnSite Member
    Posts: 222

    Send it to a "cash" account, then expense it from that account as a reimbursement.
     
  5. LB1234

    LB1234 LawnSite Gold Member
    Posts: 3,210

    my accountant gets a call for questions like these. He is VERY familiar with QBs. Ask yours.
     
  6. DuallyVette

    DuallyVette LawnSite Gold Member
    Posts: 3,308

    I set up a pretend checking account and named it CASH. then I write pretend "checks" on the CASH account for misc. business expenses.
     
  7. rmmllc

    rmmllc LawnSite Member
    Posts: 222

    That's what I meant, but you said it better. Thanks
     
  8. DuallyVette

    DuallyVette LawnSite Gold Member
    Posts: 3,308

    Maybe not better , but in simple terms so that I can understand it. Your terminology sounded more like the QB owners manual.:)
     
  9. rmmllc

    rmmllc LawnSite Member
    Posts: 222

    It took a year or more before I could do more than "write checks" and make deposits with QB. It really helped to sit down with my accountant and have him help me understand it better. My local vocational school offers a class in QB, I almost took it last year, but didn't. You could search Amazon.com or half.com and find a text book about QB- if you get it used it would be cheaper and is probably laid out in a more understandable fashion than the QB manual. I really should do the same. It is a great tool to learn, just like any other tool. It helps you analyze your financial performance and see where you can improve to make more money.
     
  10. DuallyVette

    DuallyVette LawnSite Gold Member
    Posts: 3,308

    I just felt around and figured it out myself. I probably waste a lot of the functions available. A course would be benificial.
     

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