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.
Go to the Lists menu and click Chart of Accounts.
Click Account at the bottom of the list and then click New.
Create an Income account called Cash Discrepancies.
Create two new subaccounts of the Discrepancies account named
Overages and Shortages.
Go to the Lists menu and click Item List.
Click Item at the bottom of the list and then click New.
Create an other charge item called Overage and assign it to
your Overages subaccount.
Create an other charge item called Shortage and assign it
to your Shortages subaccount.