Point of Sale(POS) machines and credit card payments
This query is : Resolved
23 June 2008
Regarding above I would like to know:
In a Retail industry:
1)When the barcode reader reads the data from the product and bill print out taken – does the data get automatically updated in Accounting Package?
2)Most customers pay by credit card. At the end of the day does the accountant takes the printout of the bank statement and manually matches the amount received with each bill raised by him?
3)How do entries appear in bank statement when the payment is received by credit card? Do they appear net of bank charges or the total sale amount collected is shown?
4)How will the accountant come to know from the bank statement that the amount is collected using customer’s DEBIT card or CREDIT card?
Please answer questionwise. Thanks.
Regarding above I would like to know:
In a Retail industry:
1)When the barcode reader reads the data from the product and bill print out taken – does the data get automatically updated in Accounting Package?
2)Most customers pay by credit card. At the end of the day does the accountant takes the printout of the bank statement and manually matches the amount received with each bill raised by him?
3)How do entries appear in bank statement when the payment is received by credit card? Do they appear net of bank charges or the total sale amount collected is shown?
4)How will the accountant come to know from the bank statement that the amount is collected using customer’s DEBIT card or CREDIT card?
Please answer questionwise. Thanks.
03 October 2009
Hello, is this an old query still pending?????? plz send me a PM if yes.....
03 October 2009
Hello, is this an old query still pending?????? plz send me a PM if yes.....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- GST not cancelled by tenant
- DIN reactivation
- Invertaded duty struture
- Capital gain on sale and purchase of plot
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
