Setting Up A Cash Register In Quickbooks

[Nortski]

Good afternoon all,

I’m looking to take my online business in to a bricks and mortar shop and I’m a little overwhelmed regarding what I need to do to bookkeeping wise with a cash register.

At the moment, all of my online sales go through the ‘Create Sales Receipts’ button in Quickbooks. I have 3 ‘Bank Accounts’ set up, Natwest, Paypal, and Stripe. When I input the items sold (I track stock) I select which account to deposit the funds into.

Now, in order to set up a cash register do I simply create another bank account as ‘Cash Register’ and transfer an initial float from another account to it?

How would the end of day procedures work? As I track stock would the Z-report give me a break down of each item sold? If so, can I just do a similar thing as I’m already doing by entering each sale into ‘Create Sales Receipts’.

When I reconcile what should be in the cash register with what is actually in the cash register, how do I account for shortages/over amounts?

Also; I want to store cash in a safe until I can do the banking. Would I create a safe ‘Bank Account’ and do a transfer from the Cash Register account to this Safe account, and likewise from Safe to Natwest when appropriate?

No doubt there’s loads of other stuff to do.

I would really appreciate some help on this please

 

[Energise Accounting]

You should set up two accounts
1. for cash
2. for till surplus or deficits

 

[Pish_Pash]

Puzzled why your 'till' wouldn't just be configured as another QB bank account (which after all, is just a convenient way grouping of 'payments') & then create QB 'sales receipts' for each transaction handled by your till (as they are now - which then tracks stock....assuming the physical till you choose, outputs sku & price for each transactiondata) just as you are now? Bbut there again, I@m not B&M...solely online.