sale entry
This query is : Open
23 June 2016
same as that of normal sale entry. For a good record, you can create an account named and styled as SWIPE SALE
23 June 2016
Eg: If you are using HdFC Bank swipe machine
At the time of sale
Hdfc Bank Swipe Machine Dr.
To Sale
On receipt of amount from Bank
Hdfc Bank Dr.
Payment Collection Charges Dr.
To Hdfc bank Swipe Machine
In the above case Payment collection charges has been debited bcz bank will credit your account after deducting its charges
23 June 2016
entries appear okay per example cited by you, however a complication may arise when you use multiple swipe machines at multiple counters and in that case you need to make proper identification 'assignment' or 'document type', etc. if following ERP accounting software like, SAP, etc.
23 June 2016
each POS (Point of Sale) is distinctly recognised/named under ERP environment. That resolves the confusion, if any
23 June 2016
Sir each machine has its own TID no and when the amount is received proper transation file is send by the bank to trace the amount collected, so it is possible in erp environment as well
23 June 2016
You can use TID No. in the 'assignment' under ERP or in some other identifiable text field like header text, etc.;
Further POS though distinctly recognized but that might be meant for all mode of sales whether by cash/cheque/DD/NEFT/RTGS or Swipe Machine, better if you use any such text/assignment field to sort out/filter transaction details swipe machine-wise.
Further POS though distinctly recognized but that might be meant for all mode of sales whether by cash/cheque/DD/NEFT/RTGS or Swipe Machine, better if you use any such text/assignment field to sort out/filter transaction details swipe machine-wise.
25 June 2016
The original querist Swati S S seems to be indifferent in all this. Vis a vis, this has started to be a good forum....Let us continue.....POS are grouped in 2 parts....01. owned and operated by the company 02. owned by other member establishment......Both are required to be duly reconciled with the bank account. The day on which swipe sale is done..... debit swipe sale...credit sales
within 2-3 days, the amount is credited into your bank account....then pass the entry debit bank...credit swipe sale
Swipe sale account behaves like debtor account......the balance in the same needs to be monitored on daily basis
Your views please
within 2-3 days, the amount is credited into your bank account....then pass the entry debit bank...credit swipe sale
Swipe sale account behaves like debtor account......the balance in the same needs to be monitored on daily basis
Your views please
25 June 2016
Yes sir, agreed
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