Good day accounting and Pastel gurus.
I have a few questions and need your intellect for these.
1. We have a separate POS system outside Pastel. We have daily sales which is made up of:
A. Cash sales
B. Credit/Debit Card sales.
C. Credit sales (customer accounts)
D. Bank Vouchers (very rare though: instances where a customer presents a fuel purchase voucher from his/her vehicle financing bank on vehicle purchase)
E. Cash customers who come into being after their cards declines or promise to come pay by cash later the day, but at times fail to come the same day or even within the said week.
My questions are:
1. How do I process my cash sales? My take is...I would
dr the Cash Account and cr Sales. (Should I use the general journal or cashbook??)
From the cash daily cash takings we at times pay for expenditures. Ranging from COGS to operating expenses. The remainder of the cash is then counted and our security guard goes to the bank to deposit.
Now the actual cash that was deposited, how best can I account for it from the cash account? Do I do a transfer to the transfer account and the main bank then receives the cash from the transfer account? Would this not be a duplication? Because of the actual/direct deposits made at the bank?
How best do I process the rest of the transactions and which modules to use: B to E?
May thanks,
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