Many firms have found QuickBooks to make accounting easier. QuickBooks' powerful software can handle everything from payments to payrolls. Small and medium-sized firms have switched to a paperless, digital accounting system. Despite all of the advantages of QuickBooks cloud accounting, there are a few minor points of friction for some firms using the platform. Some people, for example, can't figure out how to Record Cash Payments in QuickBooks.
For a lot of firms, QuickBooks has simplified accounting. With QuickBooks' powerful software, you can handle everything from payments to payrolls. Small and medium-sized enterprises have switched to a fully new accounting system that is largely digital and paperless. Despite all of the advantages of QuickBooks cloud accounting, there are a few minor points of friction with the software for some organisations. Some people can't figure out how to Record Cash Payments in QuickBooks, for example.
How to enter cash payments into QuickBooks.
Once you've logged into your QuickBooks account, follow these steps to conveniently add and track your cash payments:
In the left list menu, select "Accounting," then "Chart of Accounts" from the expanded menu option.
A glimpse of your regular checking account will appear in the "Chart of Accounts" section. You most likely don't have a cash account set up yet, which is the first step in tracking cash payments.
On the top right of the screen, select "New." Fill up your account information, including "Account Type," "Detail Type," which will be "cash on hand" in this example, "Name," and "Description."