Because cash transactions aren’t going away anytime soon, Quickbooks gives small business owners the option of Record Cash Payments in QuickBooks. It’s also an easy procedure.
Keep in mind that Quickbooks only records sales receipts. To avoid future inconveniences, try to do it on the same day.
Let’s go over the steps for recording cash payments in Quickbooks’ desktop format first, and then we’ll move on to the online format.
QuickBooks Desktop
Go to the Banking menu in your Quickbooks account after logging in.
Select Payments to Deposit from the options menu, then Make Deposits. A menu will appear; select the cash payment option and click OK.
Choose the bank account to which the funds will be transferred. To make a deposit, go to Deposit To. Fill in all of the relevant information, such as the date, details, and cash amount. You can enter several cash amounts since Quickbooks will automatically add them together.
You must click the Print Button if you wish to maintain a printed record of this transaction.
Finally, click Save and Close to save your cash deposit.
Quickbooks Online
Quickbooks’ online version provides two options for recording cash payments.
Using a sales receipt
Click the + button after logging into your Quickbooks account.
Select Sales Receipt from the drop-down menu. Select Customer from the drop-down menu that appears.
Fill in all of the transaction’s essential fields.
Then, under Deposit To, choose the bank account to which the funds will be deposited.
A deposit in a bank
Go to Quickbooks and click the Add button.
Select Bank Deposit as your method of payment. Select Account from a drop-down menu.
Choose a bank account to which the funds will be transferred.
You’ll find an Add Funds option in the deposit area; select Received From and enter the amount of revenue.
After that, click Save and Close to save your cash deposit.