How should we track cash taken out for change and then deposited back into checking after a school function? It’s not really an expense.
In MoneyMinder, all deposits and withdrawals are recorded as income and expense. To handle cash change properly, most groups set up a cashbox or petty cash bank account in the Banking section and use transfers to move funds back and forth. This keeps everything clear and accurate.
Alternatively, you can create a budget category to log the cashbox transactions and adjust the totals out of your income and expense reports if you need to for taxes. Either method works—it’s just a matter of preference.
This article in our help center has more: https://moneyminder.com/knowledgebase/cash-on-hand/
Connect your Venmo account to MoneyMinder PRO to directly download transactions, saving you time and effort. You just review the transactions to ensure they are properly categorized and fill out any required fields.
Connect your Bank, Paypal and Square accounts to MoneyMinder PRO to directly download transactions, saving you time and effort. You just review the transactions to ensure they are properly categorized and fill out any required fields.
Connect your Bank, Paypal and Square accounts to MoneyMinder PRO to directly download transactions, saving you time and effort. You just review the transactions to ensure they are properly categorized and fill out any required fields.
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Connect your Bank, Square and PayPal accounts to MoneyMinder PRO to directly download transactions, saving you time and effort. You just review the transactions to ensure they are properly categorized and fill out any required fields.