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Cash Drawer Payouts in QuickBooks Point of Sale.

Many POS users don’t realize that there is functionality built into the program to assist with payouts.  I have seen it a number of times that a user will pull cash out of the
drawer and replace it with a note that says what it was for.  As you can probably imagine, this makes for messy bookkeeping.

If you have to take cash out of the drawer for any reason, go to the Point of Sale dropdown and choose “New Payout.”  Enter in the Cashier name, Amount Account and Comments.  If you are not using POS with QuickBooks financial, then you can skip over the “account” field.  When you run your End of Day report, it will show you all the payouts that have been done along with the notes that correspond to them so you can account for them properly.

If you are using POS with QuickBooks Financial, it is important to choose the Account that you want to post the Payout to.  If you do not trust the accounting abilities of your employees, always have them post the payout to the default account of “Cash Drawer Payouts.”  Then your bookkeeper can find the Journal Entry in QBF and reclassify as needed.  If the employee is somewhat accounting proficient, then they can just choose the proper expense account that the payout should post to and it saves your bookkeeper the time of having to find the transaction and fix it.

Here is a screen shot of the Payout window in QuickBooks Point of Sale:

 

This entry was posted in QuickBooks Point of Sale, Tips & Tricks and tagged , , . Bookmark the permalink.

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