How to zero out cash on hand?

I know you are made Manager to be a proper and correct ‘accounting system’/program, and you’re doing a wonderful job at that. But it also the easiest and best solution I have found to use in a computer repair shop.

When working on a PC, each invoice is basically custom. I have just a handful of items, the most commonly used one ‘computer repair’. I then enter a lot of information manually on the invoice including all details of the PC/laptop itself, and what work needs to be done. After the work is done, I edit the invoice and add more to the item line to say what I found and what I did to correct the issue.

So this works BEAUTIFULLY for that type of situation. But I also am a very small, ‘do computer work on the side’ operation. I don’t make enough to have or claim any other business expenses right now. The only thing I need is to keep up with out how much I made in order to figure self-employment tax at the end of the year.

So, while I could just do a payment to me to clear out the cash on hand it’s not always that simple either. I do a lot and receive a lot of donations of old computers. So a lot of the repair jobs I do involve using used parts from donated computers that I didn’t buy to begin with.

Anyway I’ve made this far longer than I needed to. I just wanted to explain my situation because I know you only want this program used in a correct accounting style method.

But, knowing that could you tell me how to clear out the cash on hand periodically? Even if it’s a registry entry or a file to access? I just want things as clean and simple as I can get. And if you ever get a chance to fork your program over to a cash register type system with receipts instead of invoices and accounting, you’ll make a LOT of people happy :smile:
Thank you for the great work you’re doing.

You are basically looking for something opposite of Expense claims. That is ability to receive money personally from customer on behalf of the business.

There are two ways of doing this:

  1. Cash accounts
  2. Journal entries

If you use cash accounts method, simply receive payments from customers to this cash account and at the end of the day, do the “Spend money” transaction to clear cash account balance and allocate it to equity account called Owners' equity or something like that (you might need to create this account if you don’t have it yet).

You can also use journal entry method where you credit Accounts receivable and debit Owners' equity. This will allow you to skip cash accounts and make the money flow from customers directly to owner’s equity rather than to cash account and then owner’s equity.

I recommend to use cash accounts method as it’s easier to understand.

OK. I understand. Thank you.