Some of the screens, themes and periods and tax percentages, for Point-of-Sales, is not in line with the rest of the documentation. 

At the end of the Point-of-Sale shift, or when a cashier is relieved from his duties during a shift, you need to close the shift. 

When you close the Point-of Sale shift, the following processes will be performed: 

Reports – The “POS report options” screen You first need to cash up and print the Cash up report and Sales report, before closing the shift.the TurboCASH 

Update ledger – The Point-of-Sale Invoices will automatically be updated (posted) to the ledger.

All processed (posted) transactions will be accumulated in the Ledger analyser. There are various ways in which the transactions may be viewed, printed, exported and analysed.

To access the T-Account view of the transactions:

1.On the Reports ribbon, select Ledger analyser 1 or 2.

2.Select an account (e.g. Debtor (customer / client) account Mr. Mike Davies). Double-click on the selected account; or right-click and select Show details on the context menu. 

3.Click on the following to get specific views of transactions:

oBatch number (e.g. 55, 57, 59 or 61 for Sales transactions automatically generated). This will list only the transactions for a specific batch (journal). 

If the Cost of sales is activated, TurboCASH will generate the following 2 batches for each Invoice:

1.Sales batch – This is the journal (batch type) linked to the Invoices in Documents setup (Setup ribbon) (e.g. Batch number 55, 57, 59 and 61).

2.Cost of sales batch – This journal (batch type) selected on Stock information (Setup ribbon). The Cost of sales account is selected on the Ledger tab of Stock items (e.g. Batch number 56, 58, 60 and 62).

oAccount code (e.g. G100-000 Cost of sales account, G750-000 Stock control, T850-010 Output Tax account, D1MD-AVI Mr. Mike Davies). This will list the transactions for a specific account.

oDate – This will list the transactions for a specific date. If you double-click on a date, the “From date” and “To date” will be changed to the selected date.

Batch view

Sales (Selling prices)

pos-t-account-viewer-selling-prices

Cost of sales (Cost prices)

pos-t-account-viewer-cost-prices



If the Cost of sales is activated, TurboCASH will generate the following 2 batches for each Invoice:

Sales batch – This is the journal (batch type) linked to the Invoices in Documents setup (Setup ribbon).

Cost of sales batch – This journal (batch type) selected on Stock information (Setup ribbon).


TurboCASH calculates Cost of sales according to either Average cost or Latest cost, depending on your selection on Stock information. (Setup ribbon).

Cost prices and Quantities are determined by the following: 

Opening stock balances entered.

Purchase documents posted (updated).

Selling price for the items sold

Account view (Selling prices)

 Accounts in the Debtor’s ledger:

Cash sales

pos-t-account-cash-sales

The Cash sales account is a register of all Point-of-Sale invoices (excluding the Point of-Sale invoices charged to a Debtor (customer / client) account). Point-of-Sales invoices are debited to the Cash sales account and credit transactions for the payments is debited to the following accounts:

Cash – POS-Till account

Credit card – POS-Till account

Cheque – POS-Cheque account

Voucher – POS-Till account

Mr. Mike Davies

pos-t-account-viewer-debtor

  Accounts in the General ledger: 

Sales

pos-t-account-viewer-sales

Delivery charges charged to Debtor - Mr. Mike Davies

pos-t-account-viewer-delivery-charges

Output Tax - 14%

pos-t-account-viewer-output-tax 


Debits = Credits

Debit transactions in the Debtor’s ledger (i.e. individual   Debtor (customer / client) accounts).

=

 Credit transactions in the General ledger (i.e.   Sales, Delivery Charges charged to Debtor, and Output Tax (VAT/GST/Sales tax) accounts).


The Cash sales account will be debited (unless a Debtor (customer / client) account was selected when the Invoice payment was charged to account) and the Sales and Output Tax (VAT/GST/Sales tax) account is credited.

Cost price for the items sold

Accounts in the General ledger:

Cost of sales 

pos-t-account-viewer-cost-of-sales

Stock control

pos-t-account-viewer-stock-control


Debits = Credits

Debit transactions in the   Cost of sales account 

 =

Credit transactions in the Stock control account (i.e. Stock ledger). 

The Average or Latest Cost price (if Cost of Sales was set up in Stock information on the Setup ribbon) is debited to the Cost of Sales account, and the Stock Control account is credited with the cost price. The quantities and the cost prices will be reduced with the items sold in the Stock item records.

POS Accounts

Accounts in the General ledger:

POS CASH TRANSFER account

pos-t-account-viewer-cash-transfer

The POS-Transfer account is the contra account for the POS-Till account for transactions processed in Float movements (F8:Float) - (Transactions entered into the drawer and out of the drawer). If an account is selected on the “Float movements” screen, the transaction will be posted directly to the selected account and will not record in the POS-Cash transfer account. 

POS CHEQUE account

pos-t-account-viewer-cheque

The POS Cheque account records only the transactions Cheque payment type received (F9:Payment). 

Once the payment is processed, and the POS shift is closed, the debit transaction is recorded in the Cash sales account. 

A transaction is automatically generated to credit the Cash sales account and debit the POS-Cheque account.

POS TILL account

pos-t-account-viewer-till

The POS Till account records the following transactions:

F8:Float – Transactions entered into the drawer and out of the drawer.

F9:Payment – Cash, Credit Card and Voucher payments received.  

Expense accounts – Float movements (Out of drawer)

pos-t-account-viewer-float-movements

If an account is selected on the “Float movements” screen, the transaction will be posted directly to the selected account and will not record in the POS-Cash transfer account. 

The customer's payment at the sale (e.g. cash) is debited to the POS-Till account and credited to the POS Cash Sales (Cash customer) account.

The POS-Cash transfer account should have a debit balance. When you decide on the amount to keep as a float (or increase the amount of the float) for change, etc. you would normally cash a cheque or withdraw cash for the float amount (or increase) from your bank account. This debit transaction will be recorded when the Payments journal is posted (updated) to this account in the ledger.

When you hand the float to a cashier (salesperson), the cashier needs to verify the amount of the float received, and record the float into the drawer. This will create the credit transaction.