The Petty cash Payouts function is to record money paid out of your drawer for various things such as gas, office supplies etc. This allows you to enter a category for the payout, a description and the amount. These payouts are tracked and included in the Deposit Report/End of Day report so that money paid out of the drawer for supplies, etc. do not show up as a shortage on the End of Day report. This can also be used to track miscellaneous money coming in that you do not want to load into RTO Pro as a sale or rental. To record money coming in enter the amount as a negative.
Category: This is the category of the payout or money coming in. Examples of categories could be gas, office supplies, misc income. As you type the category name previously saved categories will be recalled so you do not have to type the entire name. You can also select a category from the drop down list. You can have as many categories as you like, you should talk to your accountant about what categories you should be breaking payouts into.
Description: Here you can type a description for the payout. This is optional, but this may prove useful if you look back on past petty cash payouts to help you remember what they were for.
Amount: This is where you type the amount of the payout, for money coming in make it a negative (if you have 100.00 going into your drawer from a misc. source enter the amount as -100.00)
F6 - Save: Press F6 to save the transaction, check the "Print Receipt" check box if you want to print a receipt.
At the bottom of the screen there is a list of previously save petty cash payouts for the day if any. If you need to delete a petty cash payout for any reason highlight in this list and press the "Delete" key on your keyboard.
Petty Cash Payouts can also be added from the End of Day program.
Remote Payments use of Petty Cash
For remote payments the petty cash feature is used to keep totals correct in both stores, the store accepting the funds and the store that the customer has the account at. For instance if John Smith has an account at your store 2, but goes into store 1 to pay his payment, store 1 will have a negative petty cash payout, since they are putting funds in their drawer but not recording the revenue in their store. Store 2 will process the payment and show revenue without the matching funds in their drawer, so a petty cash payout will be loaded to account for the funds taken at the other store. This is described below:
John Smith has an account at store 2, but goes into store 1 to pay a $50.00 payment for his contract at store 2.
Accepts $50.00, enters the remote payment through RTO Pro and puts the cash / check / cc payment form in their drawer.
A $50.00 negative petty cash payout is automatically entered to account for the $50.00 put in their drawer.
Processes the remote payment, which creates $50.00 in revenue for their store
A $50.00 petty cash payout is entered automatically, to account for the $50.00 they did not put in their drawer.