Manage Petty Cash in Xero - Part 1

Record cash payments in Xero with money from petty cash.
Learn how to set up a petty cash account in Xero and enter and reconcile transactions.
Enter an opening petty cash balance.
Add funds to your petty cash account.
Enter and reconcile cash payments.
Reconcile your cash balance and ensure the total in Xero matches your actual cash balance.

Video links:
▶️ Manage petty cash with manual journals 👉    • Manage Petty Cash in Xero - Part 2  
▶️ How to enter your opening bank balance in Xero 👉    • Enter your opening bank balance in Xero  
▶️ How to import a bank statement into Xero 👉    • Manually import your bank statements into ...  


Contents:
00:00 2 ways to manage petty cash in Xero
01:03 Step 1: set up a petty cash bank account
02:06 Step 2: add funds to petty cash
02:58 Enter an opening cash balance
03:54 Enter a bank transfer
05:16 Use your own money (funds introduced)
06:18 Cash sale
07:34 Manually reconcile a bank statement line (mark as reconciled)
09:25 Step 3: record payments and reconcile
09:37 Enter a spend money transaction
10:43 Import a precoded bank statement (fully reconciled)
13:25 Step 4: check your petty cash balance
15:57 Manage petty cash using manual journals

#xero #pettycash #bank reconciliation