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Thread: Petty cash purchases outstanding / contra

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    Petty cash purchases outstanding / contra

    Hi,

    Can anybody please advise me how to move the petty cash purchases entered through a sundry supplier account to a loan account? These purchases have not been reimbursed so no cash book entry to contra ....

    Thanks for any advice.

    Lindsay

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    Platinum Member Marq's Avatar
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    Supplier Borrows cash from PC box
    Entry should have been

    Dr - Sundry creditors
    Cr - Petty Cash

    Assume supplier is in your creditors accounts
    So make a separate loan account in Debtors to raise as a loan or do nothing and set off against creditor account if you owe him still.


    Dr - Suppliers name - Loan account
    Cr - Sundry Creditors
    The cost of living hasn't affected its popularity.
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    Lindsay S (10-Mar-16)

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    Thank you Marq - appreciate you replying

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