> On 10 Sep 2020, at 09:52, Chris Green <c...@isbd.net> wrote: > > On Wed, Sep 09, 2020 at 05:42:05PM +0100, Michael Hendry wrote: >> >> This probably won’t be an issue for Chris Green, who would be better served >> by an Undeposited Funds asset account. >> > Yes, I think you're right. We don't have any 'petty cash' in any of > the normal senses. We do have quite a bit of cash of course as that's > what comprises most of our collections. However we never pay expenses > in cash, it's always by cheque even for quite small amounts. > > I think the best approach is either:- > > 1 - Record the amounts in their different categories as required, > e.g. 'collection' or 'offertory box' and simply record the same > paying-in slip number against both transactions. > > 2 - Have, as you suggest, an intermediate "Undeposited Funds asset > account" where cash is recorded as it's collected and then another > transaction records when it's paid into the bank. > > Given the very small PCC I'm managing I think 1 above will be fine. I > record the date of the collection in the Description and the > transaction date is the date that the cash gets credited to the bank > account.
I prefer 2 because the act of paying-in is a transaction distinct from the receipt of the cash, and may include cash received on several different dates. As well as being an accurate representation of what happened, it eases trouble-shooting when (e.g.) you can’t reconcile the bank account. Regards, Michael _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
