Closing Out Petty Cash Purchase Orders at End of Year

At the end of the year you must close out your Petty Cash Purchase Order(s).  If you would like the option of closing a Petty Cash PO in any month of the year, go to the Budget > Setup screen and check off this option:

Follow the steps below to close each Petty Cash Purchase Order.  

1.  As usual, bring up the "Manage Petty Cash Purchase Order" screen for one of your POs:   Go to the Budget→Expenditures→Petty Cash screen and click the  button for the Petty Cash Purchase Order you wish to close out:

2.  On the Manage Petty Cash Purchase Order screen, locate and click the button:

3.  The Close Petty Cash PO dialog is displayed:

4.  Enter the "Cash on hand" which should equal what is actually left on hand.  
For example, you have a Petty Cash PO/Check for $100.00 - you enter receipts totaling $62.00 - you have $38.00 left. When you click the button to close out the Petty Cash PO you will enter $38.00 in the Cash on Hand field. Then click the  button.

5.  This closes the PO and shows the close out value in the Petty Cash History:

6.  Repeat steps 1 to 5 to close additional Petty Cash Purchase Orders.