MUST HAVE REFERENCE GUIDE

Site Map or Site Search

CHURCH ACCOUNTING PACKAGE

How to process entries in Quickbooks for cash kept in the safe

Our church keeps some cash in the safe for approximately 2 ministries.

We do not deposit these funds in any of our bank accounts. We're keeping track of the withdrawals & deposits on a spreadsheet but these funds/transactions haven't been included in the financial statements at year end.

They are not captured in our current accounting system. We are moving to Quickbooks and I'd like to keep track of these transactions in Quickbooks so our books will be accurate. Keep in mind this is not petty cash, this is cash for 2 ministries.

Thank you,
Charmaine

Comments for How to process entries in Quickbooks for cash kept in the safe

Click here to add your own comments

Jan 01, 2020
 Using Cash On Hand Accounts in QuickBooks
by: Vickey

First of all let me state that is not a good practice. it raises all kinds of internal control concerns.

However, it most certainly should be tracked in your accounting!

Set up 2 "Cash on Hand" bank accounts in QuickBooks.

Manually enter expenses and deposits just as you would with the church's checking account.

I would keep receipts for EVERYTHING with those accounts!

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to QuickBooks.

If you want to DIY your payroll, I highly recommend you look at using Gusto! It is very user friendly and their support is awesome! Plus they know how to set up and maintain payrolls for churches and nonprofit organizations.

Note: I am a "partner" of Gusto, but as I have told you before ... I never recommend anything that we or our clients have not tried and love =)



Share this page:
Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.