Cash Register Adjustments in Quickbooks Pro Accounting Software

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We received a Question from

"Bambi" in our Quickbooks Blog

Bambi says:

I need some help resolving a reconciliation issue. Our business uses a cash register and some days, the register doesn’t balance with the sales. Sometimes we are short sometimes over. This causes a problem when I reconcile the checking account because the sales are input according to what we sold.
Can you help me understand what accounts I should set up to track the overages, the shortages and how to reconcile?

Thank you
Bambi

OUR RESPONSE

Setup an Accounts Receivable Chart of Accounts.
When reconciling, do a Journal Entry from the bank account to this A/R Accout.
If you have less money, then you will debit A/R. If you have extra money, then you credit A/R.

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