How to enter cash receipts into QuickBooks. Steps you need to follow.

How to enter cash receipts into QuickBooks. Steps you need to follow.

How to enter cash receipts into QuickBooks.

QuickBooks financial management software has multiple ways to enter, track and record cash payments for the business purchases.  It is not possible always to make payment for purchases with a check or credit card. Usually, when you make any purchase using petty cash then expenses are still counted or recorded within your statement. This only helps match income or expenses with their accounts.

Are you a Quickbooks user?

When you set up a petty cash account, entering cash receipts is quick and simple. But to know “How to enter cash receipts into QuickBooks” is that we are here to learn. Thus wasting no time further, let’s find how to enter cash receipts in QuickBooks.

Steps to enter cash receipts into Quickbooks…

  • Go to and select the Lists -> Choose Chart of Accounts -> Click the Account drop down -> Click New. Select -> Bank -> Click continue.
  • Enter a name for the account into the Account field like -> Petty Cash or Cash Drawer. Choose 0 as the opening balance -> Select the current date in the As of field. Click -> Save & Close.
  • Select -> Lists menu -> Choose Chart of Accounts. Choose the petty cash account that you created.
  • Then enter a payee, (optional) else leave the field blank that makes easy to track this information for you if you require. Enter the receipt amount in the Payment column and move on to the next line.
  • Select the Account drop down -> Choose the expense account with which you want to associate the purchase. Click -> Splits if you need to split the amount between accounts. Click -> Record.

Enter purchase information:

While entering the cash receipts in the petty cash account you need to fill up the following purchase information before saving the account:

  • Reference #: It is optional. You are supposed to mention the identifying number from the purchase receipt.
  • Date: The QuickBooks Online Simple Start version automatically inserts the current date. You can amend it to the actual purchase date.
  • Purchased Form: You can enter a vendor (optional). If your transaction covers multiple petty cash expenses you can leave it empty.
  • Amount: The total amount of the purchase made. You can enter a calculation.
  • Memo: It is optional. The memo appears in the register and on reports that include this purchase.
  • Account: Here you need to specify the account should and the also the purchases if made for multiple expenses.
  • Customer: You can enter a customer name or leave it blank.
  • Billable: Providing the information about the bills is optional. You have to choose this box if you want to bill this purchase to the customer chosen at the left. If you don’t see a Billable column, billable expense tracking isn’t set up.
  • Mark up: This is again optional as you really can’t view it.
  • Tax: This tax column appears only if a Billable column appears and if sales tax is turned on.
  • Class: Choosing a Class is optional as you don’t see Class, class tracking is turned off.

Hope your query regarding “How to enter cash receipts into QuickBooks” has been sorted out. If in case you are still facing the issue and are not able to enter cash receipts then we recommend you to connect with our Quickbooks proadvisors at the earliest. This way you will help yourself in fixing your issue right away.

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