Set Up a Petty Cash Account

Melanie would like you to set up a petty cash fund of $50 to make change and pay for small purchases. In this exercise, you will establish a petty cash account for Beautiful Blooms Floral Co. (Add a supplier and/or account as needed.)

Choose + NewSupplierExpense. Complete the fields as follows: Payee: Cash Payment Account: TD Operating Account Date: 23/03/26 Category: Petty Cash (Account Type: Bank) You can use Cash on Hand if the previous already exists in your Chart of Accounts.

Description: to establish petty cash Amount: 50 In this case, amounts are Out of Scope, as this entry has nothing to do with sales or expenses.

Save and close the form. Now set this up by transfer to understand how both transactions have the same effect. When you are done, you will have two deposits of $50 in your cash account.