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How to Enter Cash Receipts in QuickBooks Online & Desktop

Are you a QuickBooks user looking for an easy way to record and save QuickBooks cash receipts? Look no further! With QuickBooks, not only can you record and enter cash receipts, but you can also save them in different versions, such as QB Desktop and QB Online. If you’re tired of searching for the steps to enter cash receipts, we’ve got you covered. In this blog, we’ll show you how to use either the Chart of Account option or Custom Reports Features to enter cash receipts in QuickBooks Desktop and Online. Stay tuned for all the details!

Here, we will be decoding the techniques used in various versions of QB software to add cash receipts journal in QuickBooks. To ensure seamless processing and achieve the best results, we highly recommend carefully reading and following the steps provided before moving on to the next one.

How to enter cash receipts in QuickBooks Online

When it comes to entering QuickBooks cash receipts, there are a couple of options you can explore. One option is to utilize the Chart of Accounts, which allows you to create a petty cash account. Another option is to use the Customer Reports feature, which provides Transaction Details that can help you add receipt reports to the software. These methods offer convenience and simplicity for managing your cash receipts effectively.

Solution 1: Operate the Chart of Accounts

In QuickBooks, the chart of accounts has various options for recording things, including the cash receipts report. The user can pick a chart of accounts by visiting lists and add a QB cash receipts report by following the steps guided below:

  • Start the process by launching QuickBooks and going to the Lists section.
  • Now, choose the ‘Chart of Accounts’ option.
  • Move your cursor to the drop-down menu to select ‘Account’.
  • Then, click on the New option.
  • Hit the Bank option and select Continue.
  • Open the Account field and fill in the Name.
  • Thereon, opt for the account balance as ‘Zero’ or ‘0’.
  • Go to the ‘As of’ section and choose the present Date.
  • Choose the option ‘Save and Close’.
  • Followed by this, click on the ‘Lists’ bar and select the ‘Chart of Accounts’ option.
  • Pick the account that you created earlier and name it ‘Petty Cash’.
  • Here you get the option to fill in a Payee or not, which will make it easy while tracking the required information.
  • You also needed to enter the amount of the receipt in the column named Payment.
  • Furthermore, scroll down to the line that is next and pick up the Account option.
  • Choose an Expense Account in which you can make a purchase.
  • If you wish to split the amount between two accounts or more, then select the Split option.
  • And last, press ‘Record; to finish creating or entering the QuickBooks cash receipts report.

Solution 2: Use Customer Reports

The next solution for entering cash receipts journal QuickBooks is to use the customer reports. Through this, the user can gain useful insights about your customers, such as their average order count, expected purchases, overage order totals, and many more. Simply follow the steps mentioned below to use customer reports for entering cash receipts in QuickBooks:

  • First, go to the QuickBooks menu and find the option Reports.
  • Now, click on Custom Reports.
  • Choose the option ‘Transactions Details’ and type in the required date span.
  • Tick the following items present in the Columns section:
    • Type
    • Date
    • Number
    • Memo
    • Amount
    • Split
    • Clear
  • Thereon, navigate to the drop-down menu of the Total By option and choose Customer.
  • Alternatively, you can also select the other option, such as ‘Sum by Month’ or ‘Sum by Account’.
  • After selecting the Filters bar, pick the option Transaction Type.
  • Here, in the drop-down option, choose Multiple Transactions.
  • Next, mark the below-listed Transaction Types.
    • Sales Receipt
    • Payment
    • Deposit
    • Invoice
  • Hit the tab for OK.
  • Select the filter named Detail Summary.
  • Then, click on Summary Only.
  • At last, hit the OK tab, and you are done with the process.

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How to Enter Cash Receipts in QuickBooks Desktop?

On the QuickBooks desktop, cash receipts can be posted by using the Customer option. By adding your customers to the customer list, users can easily manage their information and track their invoices. Below are the steps to guide you through the process of how to enter cash receipts in QuickBooks desktop:

  • Start by launching QuickBooks Desktop.
  • Then go to the Customer section.
  • Here, tap on Create Invoices.
  • Now, you can either select an existing Customer or enter a New Customer option.
  • Enter the field with the details required.
  • If you want, you can also enter the terms and conditions.
  • Hit the Cash Account tab and click on the Save tab.

To make the invoice, keep going through the steps shown as follows:

  • First, opening QuickBooks Desktop and selecting the Customer bar.
  • Choose the Invoices option.
  • Then, you are required to pick the invoice in correspondence with the QuickBooks Cash Receipt tab.
  • Press Mark as Paid.

Important Note:- After following the above steps, it is essential to confirm whether the transactions are checked as paid. If it is not, then there are chances that the user might face a problem related to the creation of reports and statement reconciliation in QuickBooks Desktop software.

How to Enter Petty Cash Receipts in QuickBooks

Petty cash is basically a convenient supply of cash that you can use to pay small expenses. Below, we have a few tips on how to enter petty cash receipts in QuickBooks online. Which is divided into two different sections. The first one is to Set Up a Petty Cash Account and then tips to manage the petty cash flow: Follow the guide, as mentioned below:

Step 1: How to Set Up a Petty Cash Account

Firstly you have to set up a petty cash account to create a petty cash account in QuickBooks Online. Below are the simple stamps to be followed to state the procedure:

  • First, start by clicking on the Settings tab.
  • Now, go to the Chart of Accounts and hit the New option.
  • From the Account Type drop-down section, choose Cash and Cash equivalents.
  • Then, click on the Detail Type and select Cash on Hand.
  • Type petty cash in the Name field.
  • After following the above steps, the opening balance will be created when you move money from the current account by writing a check or transferring funds. If you already have money to utilize as petty cash, put it in the Balance area and pick the As of Date.
  • At last, you have to hit the Save tab and click on the Close tab to finish the process.

Step 2: How to Manage Petty Cash

After setting up petty cash receipts, it is time to manage the petty cash to continue with the printing process. Before that, there is one essential note to keep in mind: you should designate one person at your company to manage the petty cash box and keep track of each withdrawal.

In case you wrote a check for cash:
  • First, select + New.
  • Choose the Check option.
  • Then, select Petty Cash as the payee.
  • Now, choose + Add New option if petty cash is not in the list of payees.
In cash, you took out the cash without writing a check:
  • In this, there are two simple steps: start by selecting +New.
  • And then, choose Transfer.

Important Note: The user can also use the memo box with a transaction to record any specific details.

Conclusion!

Now it’s time to conclude the blog. Hopefully, through our detailed guide, you will be able to seamlessly record or enter QuickBooks cash receipts, both online and desktop. In case you find any difficulty or your mind is bombarded with other questions, you can easily connect with QuickBooks experts by dialing our QuickBooks Support Team Number. Our QB professionals are just one call away to fix any problem you have while operating the QB application. So, without waiting a single minute, connect with us today and enjoy the seamless performance of QuickBooks software.

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Benjamin James
Benjamin James

I am Benjamin james, a technical content writer with over 13 years of experience in the domain. My passion for technology and writing has helped me become an expert in software tools. Through my extensive knowledge and expertise, I am working to help the world leverage the power of technology.

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