Click on the button or press the key on your keyboard to
close the shift and post or update the POS Invoices for the cashier or
salesperson. The following progress indicator will display the closing and
Wait until the process is finished, and the POS Invoice Entry screen is
displayed. Press the key on your keyboard to exit or close the POS
Invoice Entry screen.
As soon as the Shift is closed, TurboCASH will post the POS
Invoices to the ledger. The transactions will reflect as follows in the ledger
- Selling Price of the POS Invoice:
The Cash Sales Account will be debited (unless a Debtor
Account was selected when the Invoice payment was charged to account) and the
Sales and Output VAT account is credited.
- Cost Price for the Items Sold:
The Average or Latest Cost price (if Cost of Sales was setup
in the Setup - System Parameters - Stock Information menu option) is debited
to the Cost of Sales account and the Stock Control Account is credited with
the cost price. The quantities and the cost prices will be reduced with the
items sold in the Stock Item Ledger.
- Float Movements:
The Float into the drawer (e.g. R(£) 100) at the start of the
shift will be debited to the Till Account and is credited to the Cash Transfer
Account with the amount of the Float Movement - into the drawer. The
customer's payment at the sale (e.g. cash) is debited to the Till Account and credited to the
Cash Customer account when the invoice is updated to the ledger.
The POS Cash Transfer Account should have a debit balance.
When you decide on the amount to keep as a float (or increase the amount of the float) for change, etc.
you would normally cash a cheque or withdraw cash for the float amount (or increase) from your bank account.
This debit transaction will be recorded when the Payments Journal and updated to this account in the ledger.
When you hand the float to a cashier (salesperson), the cashier needs to verify the amount of the float
received and record the float into the drawer. This will create the credit transaction.
At the end of the shift you analyse the cashup report to check the cash in the drawer as well as payments
received by credit card, cheque, vouchers, etc. and that there are no shortages or surpluses.
Once this is done, need to do the following:
Set the float aside for the next POS shift and process a Journal (preferably a POS Journal or batch) to
debit the POS Cash Transfer Amount for the float amount and
credit the POS Till Account-
Prepare a bank deposit
slip for the amount of cash, cheques, etc. you need to bank. This amount should
be the balance of the POS Till Account (Sales for the day or shifts) (e.g. R(£)
114). When the deposit slip is presented to the bank and it is stamped, it needs
to be entered in the Receipts Journal for the bank
account in which the moneys was deposited. When this deposit slip is entered in
the Receipts Journal, it should be allocated to the POS Till Account.
Once the POS Journal and the Receipts Journal is posted to the
ledger, the Cash Customer Account, CASH Transfer Account and the Till Account
should not reflect any balances.
You need to take-on Stock Items (quantities and cost prices) in
the Input - Adjust Stock (Take-on tab) if
you start to use TurboCASH for the first time and / or update your purchases
before you update your invoice documents in the Input -
Update Ledger menu option. This will ensure
that the correct cost prices are updated in the Stock Item master files and that
the updated cost prices will be used when you update the Invoices or Point of Sales
Should a POS Invoice created and a payment have been processed and the
goods or stock items is returned, you need to process a Credit Note in the
Input - Documents - Credit Notes menu option to process the returns or to correct the POS