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Track daily cash overages and shortages

To track discrepancies in the amount of cash received in your business each day, set up the accounts and items described below.

Use the overage and shortage items to record your cash discrepancies on the Sales Receipts you use to record daily sales summaries. You'll see overages and shortages in sales reports and on your Profit & Loss report. Remember to enter a negative number when entering shortages.

To set up overage and shortage accounts

  1. Go to the Lists menu and click Chart of Accounts.

  2. Click Account at the bottom of the list and then click New.

  3. Create an Income account called Cash Discrepancies.

  4. Create two new subaccounts of the Discrepancies account named Overages and Shortages.

To set up overage and shortage items

  1. Go to the Lists menu and click Item List.

  2. Click Item at the bottom of the list and then click New.

  3. Create an other charge item called Overage and assign it to your Overages subaccount.

  4. Click Next.

  5. Create an other charge item called Shortage and assign it to your Shortages subaccount.

  6. Click OK.

KB ID# H_RET_ITEMS_OVERAGE_AND_SHORTAGE
12/10/2016 10:05:42 PM
PPRDQSSWS406 9138 Pro 2017 39f64a