POS and Accounting Reconciliation

Marianne Janet


I have questions regarding POS and accounting reconciliation

For the POS setting, I have multiple payment methods (i.e. American Express, Credit BCA, Debit BCA) which are linked to only one certain bank account (i.e. BCA Bank). The reason why I have multiple payment methods are because of the difference in merchant discount rate (MDR, something that need to be paid to the bank as credit card machine charges), but they only have one bank account and one chart of account. 

Given with the above example, I will have a total of 4 journals (3 for the payment methods and 1 for the real bank account). 

Here are my questions:
1. When I close and post the session, I have two journal entries created, one for product sales + account receivable and the other one for account receivable + the payment. I even have journal entry created for products that have stock interim (delivered)/stock valuation. But with the automatic creation of these journal entries, I still have to create manually bank statement for that particular bank account. How do I reconcile the payment method with the bank statement? 

The bank statement will be less than the ones in the POS, because the bank has automatically deducted the total from the MDR charges. I will write-off the difference as bank charges.

2. As all of the 4 journals are actually consisted of the same bank account number and same chart of account, presumably I will only need to create bank statement for the main bank one. But will these also be updated at the same time for the other 3 journals (re: the payment method ones)?

Do let me know if it gets too confusing and thanks for your help in advance!

1 Opmerking
Tom L

the same question coming here.... do you found any solution?