I have one bank account and two cash accounts. I transact all customer direct payments to the bank through the bank account and record as EFT. I have a petty cash account which I need the total to only reflect the use of petty cash (default cash on hand). I have created a 2nd cash account called “Undeposited cash collections” through which I want to put all the cash payments (non petty cash). The banking is not always conducted prior to reporting and I would like the reporting to reflect the holding of any undeposited funds. I would also like at the end of the day to be able to at a glance see what my cash takings were by referring to the summary. Theses funds are all currently showing as part of petty cash total (because it is cash on hand). I need these cash payments while undeposited to show their own total while also being applied to the correct income category and showing in cash basis setup. When those funds are banked, I would simply transfer funds to the bank account from the undeposited funds account and the cash collected would then show a zero balance. I have tried to set this up but have not have not been able to work it out and would appreciate any assistance.
In the summary page, clicking the blue figure against the Cash on hand will show you the amounts against your different cash accounts, in your case the Undeposited Cash and Petty Cash accounts. So the intended funds to be deposited to bank is the total available against the Undeposited Cash account.
This amount can be transferred to your Bank account by making an Inter Account Transfer.
If you want the Undeposited Cash account to show on the summary page itself, then you should make a suitable chart of accounts like below with control accounts.
then edit the Undeposited Cash account in the cash accounts tab as below.
this will show the total of this cash account in the summary page.