[GNC] Be careful with `petty cash' (was: 'sub-transactions')

Max Hyre mh-gnucash.user at hyre.net
Tue Sep 8 17:58:37 EDT 2020


   Dear Chris:
 
>> Some items need to be shown or accessible for statistics, for grant
>> applications or for statutory reporting. There could be any number of
>> reasons behind "we've always done it that way" :-).
> 
> Yes, I will be asking at the next PCC meeting and will keep the
> separation until then at least.

> I would suggest you create an account for cash in hand, such as
> Assets:Current Assets:Petty Cash.

   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.


      Best wishes,

               Max




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