Hi, I would like to know if I can scan receipts and tag them petty cash expenditure. As far as I know, I can attach the receipts to invoices only. Any suggestions with regards to petty cash expenditure that has to entered as journal. Thanks
Hello @sri
There is no direct feature for this.
You can add receipts to the document manager and add the links in the transaction notes as a workaround.
I have changed the category of this thread to feature request, that way other forum members can vote on it.
Why does petty cash expenditure have to be entered as a journal? I just treat the cash box like a bank account, so for an expense where I pay cash I create a purchase in the normal way but mark it as paid from the petty cash account instead of the usual current account. Any receipts would then be attached to that purchase. If a customer pays you in cash that is a sales invoice paid into the petty cash account. Cash deposits to or withdrawals from the current account are just tagged as bank transfers from or to the petty cash account as appropriate.
At any given time the balance of the petty cash bank account in QuickFile ought to agree with the amount of physical cash in the cash box.
This approach is definitely the way to go if you’re VAT registered and want to reclaim VAT on expenses you paid in cash, as only sales and purchases go through the VAT return - journals are not considered.
Some times we buy small things like coffee, milk and pay window cleaner where it will be a hassle to create purchase records for all these small expenditure.
Personally I’d find it less of a hassle this way than to go through the process of creating a journal. If you have the digital receipt anyway (which you have by the sound of the original question) then upload it to the receipt hub, click to tag, enter the value, date, category, tick the “paid” box and select petty cash. That creates the purchase, logs the payment and attaches the receipt all in one go.
If you just use a single dummy supplier for all your petty cash purchases rather than creating a separate supplier record for each little thing then that’s going to be a similar number of clicks and keystrokes to making a journal. You may even be able to set petty cash as the default payment account for that supplier to save a click each time. That is fine from a record keeping perspective, if anything were ever queried the bit that matters is the supplier’s receipt, not the record in QuickFile.
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