Hi everyone. New user.
Started a company in July, During the initial set up I made several (41) petty cash purchases. I have since totaled these and withdrawn from my Cater Allen account. Just wondering how I show that on Quickfile.
Glenn, Just wanted to say thanks for the fantastic software. Its really incredibly intuitive and a joy to use…mostly 
Glad you like the software!
Just to clarify, did you make these purchases from your own funds (i.e. out of pocket expenses)? Also are you a Limited Company?
Hi Glenn,
Yes from my own pocket. I have them all listed as petty cash in quickfile…It’s just showing I’ve withdrawn from bank and clearing the petty cash account to zero that has me stuck.
Yes It’s a LTD co.
I tried to reconcile bank statements today and ended up in a terrible mess. Had to remove all the cloud items added by marrying the bank statements in. Many had appeared twice.
As you’re accounting for out of pocket expenses, normally what you would do is enter all these individual transactions on the Director’s Loan Account, not the petty cash account. Then when you withdraw the funds from your business account to reimburse yourself you would treat this as a bank transfer from the busineess account to the Directors Loan Account.
Anyway rather than move everything from petty cash to the DLA if your reimbursing yourself just enter the “money out” transaction on your business current account and tag it as a transfer to petty cash. This should bring the petty cash account back to zero.
Petty Cash tracks cash in your LTD company, i.e. withdrawals made from the current account with the cash kept on hand for small sundry expenses.
That worked perfectly.
Many thanks for your help.