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Pay Out or In of Drawer

Pay Out or In of Drawer

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Pay Out or In of Drawer

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These actions do not create the purchase transaction, they simply create a journal for the amount between the In-Hand-Cash account and the Petty Cash account with a note of what it is for

Pay Out of Drawer

This is when you are taking cash out of the till to pay for purchases or expenses eg: Fuel, Window cleaning, Stock from a local supplier.

You would just enter the Reason and the amount.

It reduces the amount in the In-Hand-Cash account and increases the amount in the Petty Cash account

When you get the Purchase Invoice you can enter it in the same way as all other Purchase Invoices (In Accounts / Purchases) and mark it Paid by the Petty Cash account (which would reduce the Petty Cash balance to what it was before  

Pay Into Drawer

This is when you are putting cash into the till. For example the change of what was taken out in Pay Out of Drawer, or when putting coins in the till for extra change.

You would just enter the Reason and the amount.

It increases the amount in the In-Hand-Cash account and reduces the amount in the Petty Cash account