Petty Cash Accounts

You can easily manage your Petty Cash in ChurchTrac. We recommend using an "Untracked Account" for most churches, but you also have the option to use an "Asset Account" if you need detailed Category-level reporting.

• Setting up an Untracked Petty Cash Account
• Setting up a Petty Cash Asset Account
• Transferring Funds to Petty Cash
• Recording Petty Cash Activity

Untracked Accounts are used for accounts you want to record and monitor without showing them on your Balance Sheet or budget. You can still view and adjust the balance, but individual transactions and Categories are not tracked.

Asset Accounts are used for accounts that actually hold money, like checking or savings accounts. These accounts show on your Balance Sheet and track every transaction in detail.

Setting up an Untracked Petty Cash Account (Recommended)

This option is ideal for churches that simply want to track the balance of their petty cash without needing detailed expense categories.

Step 1. Navigate to the "Accounting" screen and select the "Accounts" tab. Then, select "Add Bank Account."

Answer the prompt:

1. "Is this an Account held at a bank or financial institution?" Yes

Step 2. When prompted, select "Untracked Account." Next, enter a name such as "Petty Cash."

Step 3. Then, choose "Untracked Asset."

Step 4. Enter a Starting Date and Beginning Balance, then "Save" the account.

Setting up a Petty Cash Asset Account

Use this option if your church wants to run reports showing which "Categories" Petty Cash was spent on.

Step 1. From "Accounting → Accounts," select "Add Bank Account."

Answer the prompt:

1. "Is this an Account held at a bank or financial institution?" Yes

Step 2. Enter a name such as "Petty Cash" and choose "Asset" as the account type.

Step 3. Enter the Starting Date and Beginning Balance to finish setup.

Transferring Funds to Petty Cash

First, go to your "Checking Account" and select "Add Transaction."

Enter the transaction details:

• Transaction Type: Account-to-Account Transfer
• Reference: TRX
• Payee/Description: Replenish Petty Cash or Cash Box
• Transfer To: Petty Cash
• Enter Amount: $500.00

Review and "Save" the transaction.

Recording Petty Cash Activity

If Using an Untracked Account

Untracked accounts do not use Categories or Funds. Simply select "Add Transaction" and adjust the balance when needed.

Enter the transaction details:

• Transaction Type: Balance Adjustment
• Description: Gas, Supplies, Refreshments, etc.
• Amount: Amount spent or added

If Using an Asset Account

Asset accounts allow detailed tracking by Category.

• Transaction Type: Expense/Charge
• Reference: PMT
• Payee/Description: Gas
• Category: Select the appropriate expense category (Petty Cash)
• Fund: General Fund (or applicable Fund)
• Amount: Example: $50.00