Transaction Updates

Here are the updates that occur when you save POS transactions:

Sale Transactions

Account customer: no receipt processed

[Debit] - Debtors Account (total value of sale)
[Credit] - Sales Account (net value of sale)
[Credit] - Tax Account (tax value of sale)
[Debit] - IN Cost of Sales Account (inventory cost)
[Credit] - IN Inventory Stock on Hand Account (inventory cost)

An invoice transaction updates to the customer's account, increasing their outstanding amount owing by the value of the sale. The inventory balance for each item included in the sale is reduced by the respective line quantity.

Account or Cash customer: receipt processed: cash or banked credit card

Batch 1:

[Debit] - Debtors Account (total value of sale)
[Credit] - Sales Account (net value of sale)
[Credit] - Tax Account (tax value of sale)

[Debit] - IN Cost of Sales Account (inventory cost)
[Credit] - IN Inventory Stock on Hand Account (inventory cost)

Batch 2:

[Debit] - Bank Account (total value of sale) - the bank account comes from the bank assigned to the station in Station Maintenance.
[Credit] - Debtors Account (total value of sale)

The inventory balance for each item included in the sale is reduced by the respective line quantity. Both an invoice and a receipt transaction update to the customer's account. The reference for the receipt transaction has a suffix -2 to represent that POS is the source form for the receipt. If more than one receipt line is processed for a sale, the suffix increments by 1 for each new receipt line.

Information

If a partial receipt is entered for an account customer with a remaining balance outstanding), the transaction effects outlined in (a) and (b) are combined with the effect that the bank is updated with the received value, and the debtors account is updated with the outstanding value.

Account or Cash customer: receipt processed: non-banked credit card

Batch 1:

[Debit] - Debtors Account (total value of sale)
[Credit] - Sales Account (net value of sale)
[Credit] - Tax Account (tax value of sale)

[Debit] - IN Cost of Sales Account (inventory cost)
[Credit] - IN Inventory Stock on Hand Account (inventory cost)

Batch 2:

[Debit] - GL Clearing Account specified in UT Credit Card Maintenance (total value of sale)
[Credit] - Debtors Account (total value of sale)

Inventory and customer balances are updated as outlined in (b) above.

Return Transactions:

(a) Account customer: no refund processed

[Credit] - Debtors Account (total value of sale)
[Debit] - Sales Account (net value of sale)
[Debit] - Tax Account (tax value of sale)

[Credit] - IN Cost of Sales Account (inventory cost)
[Debit] - IN Inventory Stock on Hand Account (inventory cost)

A credit transaction updates to the customer's account, reducing their outstanding amount owing by the value of the return. The inventory balance for each item included in the return increases by the respective line quantity.

Information Inventory balances update using the effect on inventory of the IN Transaction Type assigned for return transactions in POS Module Control. If a transaction type is used for returns that has no effect on inventory then inventory balances are not updated. This may be applicable if you do not want to receive returned goods into stock, and a checking process is required first before they are adjusted back into inventory.

(b) Account or Cash customer: refund processed: cash or banked credit card

Batch 1:

[Credit] - Debtors Account (total value of sale)
[Debit] - Sales Account (net value of sale)
[Debit] - Tax Account (tax value of sale)

[Credit] - IN Cost of Sales Account (inventory cost)
[Debit] - IN Inventory Stock on Hand Account (inventory cost)

Batch 2:

[Credit] - Bank Account (total value of sale) - the bank account comes from the bank assigned to the station in Station Maintenance.
[Debit] - Debtors Account (total value of sale)

Information Inventory balances update using the effect on inventory of the IN Transaction Type assigned for return transactions in Point of Sale Module Control. If a transaction type is used for returns that has no effect on inventory then inventory balances are not updated. This may be applicable if you do not want to receive returned goods into stock, and a checking process is required first before they are adjusted back into inventory.

Both a credit and a receipt (reverse) transaction updates to the customer's account. The reference for the receipt transaction has a suffix -2 to represent that POS is the source form for the receipt. If more than one refund line is processed for a return, the suffix increments by 1 for each new refund line.

Batch 1:

[Credit] - Debtors Account (total value of sale)
[Debit] - Sales Account (net value of sale)
[Debit] - Tax Account (tax value of sale)

[Credit] - IN Cost of Sales Account (inventory cost)
[Debit] - IN Inventory Stock on Hand Account (inventory cost)

Batch 2:

[Credit} - GL Clearing Account specified in UT Credit Card Maintenance (total value of sale)
[Debit] - Debtors Account (total value of sale)

Inventory and customer balances are updated as outlined in (b) above.

Information The POS docket number is the AR invoice/credit/receipt number.

Other Checks on Save

These general checks occur when a transaction is saved:

Check customer credit (rules assigned in AR Customer Maintenance).
Check the transaction value does not fall outside the allowable sale range defined for the receipt method.
Check the sale limit value of the user (assigned in POS User Preferences).

A message displays if any of these checks result in the prevention of saving a transaction.