QB Issue Resolution:

When reconciling a cash register drawer you need several numbers:

Starting cash/cash drawer amount, Sales (cash in), Expected cash, Cash in drawer, Cash over/short

The formula works like this:

Step 1: Starting cash + Sales = Expected cash

Step 2: Cash in drawer – Expected cash = Cash over/short

For example:

Starting cash $200 + sales $2000 = Expected cash $2200

Cash in drawer $ 2194.50 – Expected cash $2200 = Cash short $-5.50

-OR-

Cash in drawer $ 2212.00 – Expected cash $2200 = Cash over $12

– Generally the amount taken to the bank is a manager’s choice involving how much cash she wants to leave in the drawer for tomorrow, and is not involved when counting out the cash for a register to see if you’re in balance.

– If excess cash is removed from the register during the day, add that back to “Cash in drawer” for these calculations.

Resolution for Issue 'Counting petty cash' available: Yes (Solved).
Source: Intuit Community forum.

Counting petty cash: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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