Petty Cash Accounts

You can easily track and manage your Petty Cash in ChurchTrac:

• Setting up a Petty Cash Account
• Transferring Funds to a Petty Cash Account
• Entering Transactions in a Petty Cash Account

Setting up a Petty Cash Account

First, you'll need to set up a 'Petty Cash' account. Navigate to the Accounting screen, "Accounts" tab. Then, select "Add Bank Account." A series of questions will guide you through the setup:

1. Is this an Account held at a bank or financial institution? No

2. Is this Account used to track Petty Cash or a fixed asset like the value of a building or vehicle? Yes

3. Do you know the balance or value of this asset? Yes

Next, you'll need to type a descriptive name for the account: Petty Cash, and designate it as an Asset.

Finally, you'll need to enter a starting date and balance to begin tracking this asset's value.

Transferring Funds to a Petty Cash Account

Once the petty cash account is created, you can transfer the desired amount from your checking account.

First, navigate to your Checking Account and select "Add Transaction."

Then, fill in the information accordingly.

• Transaction Type: Account Transfer
• Reference: TRX
• Payee/Description: Cash Box
• Transfer To: Petty Cash Account
• Enter Amount: Ex. $250.00

Review the details and complete the transfer.

Entering Transactions in a Petty Cash Account

To track petty cash expenses, enter transactions as you would for any other account register:

First, navigate to your Petty Cash Account and select "Add Transaction."

Then, fill in the information accordingly.

• Transaction Type: Expense/Charge
• Reference: PMT
• Payee/Description: Gas
• Category: "Category that applies to the Expenditure" (i.e. Misc. Expenses, Benevolence, etc.)
• Fund: General Fund
• Enter Amount: Ex. $50.00

Review the details of the Expense transaction.