Accounting Petty Cash Drawer

The purpose of this lesson is to help you manage petty cash and cash drawers.

My Recommendation

I recommend that you maintain petty cash or cash drawers as bank accounts. For each bank account, create a unique pair of Bank In Transit and Bank GL accounts. This way each bank account has its own bucket in your trial balance. Use the payment window to accept and distribute cash from your petty cash fund or drawer. Use the Bank Statement functionality to periodically 'close' the cash drawer if needed. Because iDempiere and ADempiere post the Business Partner to the GL, you can run a trial balance report for your Petty Cash Loan account, sum by Business Partner, and produce a by employee loan statement directly from the GL.

Demonstration

Another Alternative to the Above Demonstration

Notes:

Same Topic Solved Using Cash Drawer