Hi everyone,
I have a question about how to correctly log transactions and transfers when moving cash from my quickbooks cashbox coa to a linked bank coa.
I know I can just do a transfer but this doesn't work in my case.
The problem I have is that I physically take cash from my cash box and then pay it back to the business by making a transfer from my personal bank account into my business bank account (saves me going to the bank to deposit the cash). So in quickbooks my linked bank coa shows a transaction in from an outside source and so I can't make a transfer from my quickbooks cashbox as it would double the money in my linked bank account coa.
I currently transfer the money out of the cashbox by just making a transaction but this then doesn't show any link to the amount going into my linked bank coa.
Is there a better way to do this so I can track that the money going out from cashbox has been repaid into my business bank account?
