I've seen suggestions in accounting texts (and use myself) an account
called 'Undeposited Funds' as a Current Asset. Checks and currency
destined to the bank (but not there yet) are recorded here when received.
Regards,
Adrien
On 9/8/20 4:58 PM, Max Hyre wrote:
Be careful with the `petty cash' account. It has a specific meaning in
bookkeeping: it's a set amount you keep on hand for when someone needs to buy
copier paper, or pens, or whatnot, and doesn't want to bother with a check or
credit card. When it gets low, you top it off to the set amount and continue.
Get the receipts to check against the account.
For the above suggestion, I think what you need is a ``miscellaneous cash''
account, or a ``cash in second left-hand drawer'' whose only purpose it to go
into the bank.
You can then log the two different cash receipts as transfers from
Income:Offertory —> 2d drawer and Income:Collection —> 2d drawer.
These will be dated for the Sunday the cash was received.
At some future date, you’ll transfer the whole (or part) of the
2d drawer Cash into the bank account with a single pay-in slip:
Asssets:Current Assets:2d drawer —> Assets:Current Assets:Your Bank.
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