Cash Register Adjustments in Quickbooks Pro Accounting Software
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
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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.
make a GL accoount called over/short that you post to daily ~ then you can see which days are over and which are short. if it’s one person manning the register, put their name or initials in memo line so you can see how often they are over or short to determine if there is a problem
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