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.
