Cash Account/Petty Cash

I have set up a Cash Account “Petty Cash”.
Importing a Bank Statement into Bank Accounts i have a line that is for a Cash Withdrawal.

At this stage i have accrued $50 in Petty Cash from Bank Account and it shows up on the Bank Transactions above the cash withdrawal. So i have deleted the cash withdrawal.

Is there another method whereby i can assign a withdrawal to a cash account? This will at least save the records showing up on another statement import?

The normal way to handle such a transaction would be to the the Transfer Money function. You don’t actually mention if that is how you originally handled this.

One problem with statement imports is the potential for duplication of transactions. I don’t use them for that reason. I can certainly see their benefit if you have a high volume of transactions. But if the volume is low, it can be more trouble sorting out the irregularities than it is worth. And waiting to import a statement means the books lag the real situation between imports.

HI @Tut thank you.
Yes i was coding it all to an Internal Bank Transfer account instead of using the transfer option.
I have now changed all transactions to having used the feature.

With bank statements, i agree, however an option to being able to select it as a transfer and then provide more options could be a nice feature?

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Hi there

If it is possible to allocate the “account” column from the main screen instead of clicking on “Edit” button and do a change there. I reckon that it is much faster for doing the book if the “account” column is making selectable like dropdown menu from chart of accounts.

I have no doubt there are the bank rules utility for speeding up (automatically) categorized the chart of account allocation but not all bank transactions are recognizable such as bank cheque, etc.

Thank heaps

You can only change the account allocation on an existing transaction from the edit screen.

Thanks, Tut.