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If you have a cash till, then you may have be required to remove and/or add cash from the till for everyday expenses.This is commonly referred to as "petty cash", so that what we call it in Timely too.
Check out the guide below for more information on recording and tracking petty cash expenses!
Add a petty cash transaction
If you take money from the till at any point, then you can record that in Timely. Petty cash can only be recorded for today's date.
You will need to have your register open to record petty cash, so you will be prompted to open the register (if it isn't already):
- Click on the sale tag in the top left corner and choose Petty Cash from the options:
- In the pop up, the Location will be automatically assigned based on which register is selected.
- Enter the Amount in the field provided:
- Choose if this is a Cash out or Cash in transaction:
- Enter a Description for the transaction:
- Click Save to record the transaction.
View any petty cash expenses
You will be able to see a list of any petty cash expenses while you are performing a cash up.
- There will be a total cash amount shown, which shows you the Cash amount to expect in the till.
- Click Details under the Expected column to see a detailed breakdown of the cash on hand:
- This will show you both the total value of Petty cash in and Petty cash out transaction for that day:
Petty cash report
If you'd like to take a closer look at what petty cash transactions have been recorded, you can run the Petty cash report in the Reports tab.
This will show you the total Cash in and Cash out for that period, as well as a detailed list of transactions: