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What to do after POS Session?

By
Hamid Ali
on 9/9/14, 3:33 PM 672 views

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...

  1. Is this the correct way of posting and closing a POS Session? 
  2. How this Debtors thing will affect my accounts/Balance Sheet?
  3. 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.

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Asked: 9/9/14, 3:33 PM
Seen: 672 times
Last updated: 3/16/15, 8:10 AM