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Information on the "Petty Cash Purchases" feature.

Dan Belfield
  • Updated

Introduction

The Petty Cash Purchases feature can be used for reconciling petty cash taken from a till drawer or float account against Petty Cash Purchase Items.

This feature utilises the Cash Purchases feature. For details on cash purchases, see: 

There are several methods of handling petty cash via Cash Purchases. This depends on how you handle this operationally, and what options are available at the POS. Each of the method are typically configured to populate cash purchases with the relevant settings by default, thus making the cash purchase process the same regardless of which method is required. The methods are as follows: 

 

Petty Cash Purchase Methods

Method One: Petty Cash Via An Account

Operational Process

This option should be used when petty cash is taken the safe float or other designated cash account for petty cash. This option should not be used if petty cash is taken from the till drawer. 

The operational process that this method applies for is as follows: 

  • Petty Cash is physically taken from the safe float or other cash account for petty cash.
  • The Petty Cash value is declared using a Cash Purchase to reconcile the petty cash value against purchase items. 

 

Configuration

There are two elements to configuring this option: 

Cash Account Configuration

It is assumed that the cash account already exists within the site.

If a new site account is required, Click Here.  

Site Configuration 

To configure the default options against each site: 

  • Log into the required site. 
  • Head to the Site Setup section via Company Settings > Site Setup > Site. 
  • Select the Revenue Management tab. 

Within the Cash Purchases section: 

  • Default Pay From Account: Select the site account that petty cash is paid from. 
  • Cash Purchase Account: Select "Cash Purchases". 
  • Allow Cash Purchase From Till: Ensure that this is disabled.
  • Allow Cash Purchase From Back Office: Ensure that this is enabled. 

Select [SAVE SITE]. 

 

Method Two: Petty Cash Via The POS (Declared)

Operational Process

This option should be used when petty cash is taken from the till drawer and declared via the POS system.

The operational process that this method applies for is as follows: 

  • Petty Cash is physically taken from the till drawer and the value is declared via the POS system.
  • The Petty Cash value is declared using a Cash Purchase to reconcile the petty cash value against purchase items. 
  • The Petty Cash value is declared when completing the Cash Up. 

 

Configuration

There are two elements to configuring this option: 

Cash Up Configuration

A Control type site account is required for this method: 

  • Create A New Chart Account, specifically with these settings: 
    • Chart Code: Enter a code for the account. 
    • Name: Enter the account name as "Petty Cash Control". 
    • Type: Select Control.
    • Group: Select Current Assets.
  • Next, Create A Site Account for all sites using this feature. 

A denomination is also required for this method: 

  • Create A New Denomination called "Petty Cash" (or similar). 
  • The denomination must be assigned to the same Media Type as the Paid Out media (or other media used for petty cash.)

Within the cash up count template:

  • Update The Cash Count Template to add a line for petty cash to be entered against. Specifically: 
    • Select the "Petty Cash" denomination created above.
    • Select the "Petty Cash Control" site account created above.  

Site Configuration

To configure the default options against each site: 

  • Log into the required site. 
  • Head to the Site Setup section via Company Settings > Site Setup > Site. 
  • Select the Revenue Management tab. 

Within the Cash Purchases section: 

  • Default Pay From Account: Select the "Petty Cash Control" account created above. 
  • Cash Purchase Account: Select "Cash Purchases". 
  • Allow Cash Purchase From Till: Ensure that this is disabled.
  • Allow Cash Purchase From Back Office: Ensure that this is enabled. 

Select [SAVE SITE]. 

 

Method Three: Petty Cash Via The POS (Not Declared)

Operational Process

This option should be used when petty cash is taken from the till drawer, but it is not possible to declare this via the POS system or the POS integration does not support petty cash.

The operational process that this method applies for is as follows: 

  • Petty Cash is physically taken from the till drawer. 
  • The Petty Cash value is declared using a Cash Purchase against a selected till, to reconcile the petty cash value against purchase items. 
  • The Petty Cash value is declared when completing the Cash Up.. 

 

Configuration

There are three elements to configuring this option: 

Payment Media Type Configuration

The payment media type that is used for petty cash (usually the "Cash" media type) needs to be enabled for cash purchases: 

Cash Up Configuration

A Bank type site account is required for petty cash amounts to deposit against: 

  • Create A New Chart Account, specifically with these settings: 
    • Chart Code: Enter a code for the account. 
    • Name: Enter the account name as "Petty Cash Control". 
    • Type: Select Bank.
    • Group: Select Current Assets.
  • Next, Create A Site Account for all sites using this feature. 

A denomination is also required for this method: 

  • Create A New Denomination called "Petty Cash" (or similar). 
  • The denomination must be assigned to the same Media Type as the Paid Out media (or other media used for petty cash.)

Within the cash up count template:

  • Update The Cash Count Template to add a line for petty cash to be entered against. Specifically: 
    • Select the "Petty Cash" denomination created above.
    • Select the "Petty Cash Control" site account created above.  

Site Configuration

To configure the default options against each site: 

  • Log into the required site. 
  • Head to the Site Setup section via Company Settings > Site Setup > Site. 
  • Select the Revenue Management tab. 

Within the Cash Purchases section: 

  • Default Pay From Account: Leave this blank. 
  • Cash Purchase Account: Select "Cash Purchases". 
  • Allow Cash Purchase From Till: Ensure that this is enabled.
  • Allow Cash Purchase From Back Office: Ensure that this is disabled.
  • Default Cash Purchase Till: Select the till that petty cash is typically taken from. (Leave this blank if you want users to select the till when declaring the cash purchase.)
  • Default Cash Purchase Payment Type: Select the payment media used to purchase petty cash items with. (Usually this is 'Cash'.) 

Select [SAVE SITE]. 

 

 

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