If I want to transfer money from my bank (cheque account) to my petty cash. This is my starting point as I have withdrawn money from my bank to use as float. How dod I do it? I have tried a Journal entry but then my petty cash shown as -R500.
Physically, make a withdrawal from your bank account or write and cash a cheque.
To record the transaction, use Transfer money in the Cash Accounts tab. Of course you must set Petty cash up as a cash account first.
Thank you. I am still a bit lost as i am new to this program. Do I then use the recieve money in the cash accounts tab?
No. A transfer simultaneously processes a spend from one cash account and a receive in the other. If you are new, start reading the Guides. Create a test business to play with. You can have as many as you want. That way you won’t spoil your real records.