Petty cash purchases outstanding / contra

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  • Lindsay S
    Junior Member
    • Mar 2014
    • 19
    #1

    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
    Tags: None
    • Marq
      Platinum Member

      • May 2006
      • 1297
      #2
      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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        Comment

        • Lindsay S
          Junior Member
          • Mar 2014
          • 19
          #3
          Thank you Marq - appreciate you replying

            Comment

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