Pay Money out of the Cash Drawer (Payouts)

Open the Cash Drawer | Sales Overview

Cash sometimes needs to be removed from the cash drawer. For example, you may remove cash from the cash drawer to buy office supplies, make a donation, purchase pizza for the office party, or to have less cash on hand for security reasons.

To record a cash drawer payout:

1. From the Home Page, select New Payout from the Point of Sale menu

OR

From a new receipt or your sales history, select New Payout from the I Want to Menu.

The Cash Paid Out dialog is displayed.

2. If you are not requiring employee logins, enter your name in the Cashier field.

3. Enter the amount in the Amount field.

4. If you are using QuickBooks Desktop financial software, select a QuickBooks account from the drop-down list in the Account field.

- This is the account that the payout amount will be balanced against in QuickBooks Desktop. Learn more.

- A default payout expense account can be defined in company preferences and will be suggested.

- If paying out tip/gratuity amounts collected on sales, select the Employee Tips Payable liability account (or a custom account if you have created custom account mappings).

5. (Required) Record the reason for the payout in the Comment field.

6. Click OK.

A Payout receipt is generated and placed in your sales history. The amount of the payout is recorded as a negative amount.

Notes:

- On X/Z-Out reports, the term "paid out" typically refers to money or other payment given to the customer for any reason, such as giving change for a normal sales receipt or refunding cash to a customer on a return. However, in the list of non-currency media contained at the end of X/Z-Out reports, there is a list of payouts, meaning cash removed from the cash drawer using the payout feature as described above. It is important to be aware of the distinction.

Related Topics

Handling bank deposits after Financial Exchange with QuickBooks Desktop