Journal entry of POS Transaction

Pos transaction are journalised , but in whose books.

In the books of a sole proprietorship business

Sale ... 98
to bank account ..98

mdr fee .. 1.5
igst .. 0.5
to, merchant account 2

100 re sale. net recd 2rs.
hope this clears the point

100 Sale , 10 MDR Charges, GST 12 % on Rs 10/- MDR charges 1.2

Bank A/c Dr 90
To Sales A/c Cr 90
( sales through Pos after deducting MDR charges)


MDR Charges A/c Dr 8.80
CGST A/c Dr .60
SGST. A/c Dr .60
To POS Marchant A/c Cr 10
( MDR charges payable)


POS Marchant A/c Dr 10
To Bank A/c Cr 10
( payment entry)

If sale Rs 100/- & MDR fee Rs 10/- then follow the below entries...


For Sale :
Dr. Customer A/c - 100
Cr. Sale A/c - 100

For Receipt:

Cr. Customer A/c - 100
Dr. Bank A/c - 90
Dr. POS Ser Provider A/c - 10

For Service Provider Charges:

Dr. MDR Service Charges - 10
Cr. POS Ser Provider A/c - 10