Skip to main content
The Best QuickBooks Prices & Service, Since 2001

Call Today 352.742.0800

11313 Davison Lane Tavares, FL 32778
Home

Speak to An Expert

  • Home
  • Bookkeeping
  • About Us
      1. News
      2. Our Team
      3. Enix & Associates, LLC
      4. Enix/Mendelson
      5. Industries Served
  • Tips & Articles
  • Contact Us

This Week's Question: Paying for Expenses from the Cash Drawer in POS

  • April 2014
  • Point of Sale
Point of Sale Cash Drawer

Q - In QuickBooks Point of Sale how do I properly show a payout when I pay for expenses out of the cash drawer?

A - This is a great question and is actually quite easy if you follow a few simple steps.  It's important to know good internal controls are imperative if the cash drawer is going to be used on a regular basis for minor expenses.  These controls will allow you to properly account for the drawer's activity at the end of the day.

Click on Point of Sale > New Payout. A window will pop up as shown below.

New Payout in Point of Sale


In this case I completed the Cashier field, entered the amount of $20 and chose the correct General Ledger account from the drop down menus.  Comments are a required field or the "OK" button will not illuminate.  As an internal control you want the cashier that initiated this payout transaction to put the cash receipt in the cash box for reconciliation purposes later on. If the cashier is not familiar with the general ledger accounting he or she can just leave the default "Cash Drawer Payouts" and the bookkeeper can clean this up later.

Below you can see the result of the Z-Out Drawer Count Report.  You can clearly see the $20 payout and this would not be expected to be part of the cash count at the end of the day.

Z Out Drawer Count Report - QuickBooks POS

Next let's look at the Z-Out Store Close Report.  Here you can clearly see the Payout amount and at the bottom of this report will be a listing of all payouts for the day plus appropriate comments.  In this case when the next Financial Exchange takes place (normally as part of the End of Day routine, Postage and Delivery will be debited for this $20 expense on your Profit & Loss Statement.

Z-Out Store Close Report - Point of Sale
 

Categories

  • Agiliron (1)
  • Enterprise (16)
  • Inventory (8)
  • Payroll (2)
  • PCI Compliance (2)
  • Point of Sale (21)
  • QuickBooks (38)
  • QuickBooks Online (15)
  • Reporting (7)
  • Taxes (8)

Recent Posts

  • Accounting for contractors
    Utilizing QuickBooks Online Advanced for the Construction Industry
  • accounting software for law firms
    The Best Accounting Software for Law Firms
  • streamlined processes
    Streamline Business Operations with QuickBooks Enterprise Platinum with The Diamond Package
  • QuickBooks 2020
    New and Enhanced Features in QuickBooks Enterprise 2020

Footer Logo

A multi-national award winning Intuit Premier Reseller and 3-time named Top 100 ProAdvisor serving Tampa & Orlando, Florida. Specializing in QuickBooks Point of Sale, QuickBooks Pro & Premier, Enterprise Solutions and QuickBooks Online.

Services

  • QuickBooks Support
  • QuickBooks Consulting
  • QuickBooks Data Conversion
  • QuickBooks File Review
  • QuickBooks Reporting
  • Software Needs Assessment
Intuit Premier Reseller - Advisory Council Member
Intuit Quickbooks Certified ProAdvisor - Online
Intuit Quickbooks Certified ProAdvisor - Point of Sale
Intuit Quickbooks Certified ProAdvisor - Desktop
Intuit Quickbooks Certified ProAdvisor - Advanced Desktop
Intuit Quickbooks Certified ProAdvisor - Enterpriser
Top 100 ConsultantCertified Consultant500K Club

© 2021 Enix & Associates, LLC   |   Website: Precision Pages Inc.