Hi, I am confused about the post POS activity. Can you guys please help me out what to do after closing a POS session. It asks to Validate closing and Post Entries and after I press the validate closing button, it shows (for example);
- Product Sales (CR) 100$
- Debtors (DR) 100$
My questions are...
- Is this the correct way of posting and closing a POS Session?
- How this Debtors thing will affect my accounts/Balance Sheet?
- What is the proper way of transfering the POS amount for a particular day to the Bank account?
Please guide me about the proper way of posting entries after closing a POS session. Our regular practice is that we transfer the cash collected from the POS to the Bank account at the same day after closing the retail store.
Please try to give a substantial answer. If you wanted to comment on the question or answer, just use the commenting tool. Please remember that you can always revise your answers - no need to answer the same question twice. Also, please don't forget to vote - it really helps to select the best questions and answers!
About This Community
|Asked: 9/9/14, 3:33 PM|
|Seen: 497 times|
|Last updated: 3/16/15, 8:10 AM|