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

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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!

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