Tranfering

Sally Joe Kimbel on

Trying to transfer from the petty cash account to our club
account. The drag down button just has the one account
listed in the Source Acct. We do show a petty cash account
- so am a little confused as how to transfer funds from
petty cash into our cash account.

Thank you for any help,
Sally Joe

Gene Rooks on

Sally Joe, check with bivio support about that, if you don't have cash
transfer option between two cash accounts. Gene

Eric Dobbs on

Petty Cash accounts are treated specially because they're
supposed to be off the books -- our software doesn't let you
enter a transfer. Hence Rob's earlier reply:

"enter a non-deductible expense for the total balance in
Petty Cash, and then a *negative* expense for the same
amount in the account where the money actually resides."

Eric Dobbs
bivio Inc.

Rip West on

Just to be clear. There is nothing wrong with having a petty cash account as one of your regular cash accounts. What you can't do is have what I call an 'old-style' petty cash account that was prompted by NAIC doctrine in the past. These accounts were not part of the official books and records, and transactions to these accounts were, indeed, off the books. If one is talking about eliminating one of these 'old-style' petty cash accounts, then Rob's and Eric's answers make sense. If the petty cash account in question was set up as a regular cash account, then it doesn't have to be eliminated, and you can make a transfer, if desired.

Rip West
Saint Paul, MN

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