Here is a short video showing you how you can use petty cash from the till:
Steps for Using Petty Cash from the Till
- Go to POS > Customers.
- Click the + Add New Customer button in the upper left.
- You will need to create a New Customer with the name Petty Cash (Do this if you want to track this separately from Store Use and/or Store Promotion; if you want all such expenses tracked in a single area, just use a Store Use customer). In the Settings tab, set the customer to be Tax Exempt and to not be eligible for Rewards.
- Go to Products > Products and create a product called Cash Out. Do not set inventory, cost, or price for the item. On the Advanced tab, make sure that all Tax Rates are un-checked. Save the product. NOTE: As an alternative, if your Service tax rate is already 0%, you can create the Cash Out item under Products > Services. The advantage of this is that you won't have to zero out negative inventory quantities as you will need to do over time with the product version of the item.
- Load the customer into the Register, and add the Cash Out item.
- In the line item for Cash Out, set the Price for how much cash you are taking out of the drawer (note: this will be a positive number, prices cannot be negative). In the Quantity field, you will give the line item a -1 quantity. You should not see any tax on the transaction, and the system will treat it as a return.
- Add Notes to the transaction for the purpose of the cash withdrawal and who it is for, if necessary.
- In the Return panel, set the funds to go out as Cash for the entire amount.
- Be sure to print the receipt and keep it in the drawer for your accountant.