For creating a sales receipt, the PoS operator must open a counter in the application. Typical Counter management consists of the following activities.
Opening a Counter:
Open counter in POS application
Previous closing balance is automatically set as new opening balance
Recording Sales:
Record all sales/sales returns during the day or shift
Record Pay-ins, Pay-outs, Expenses etc
Closing the Counter:
Enter cash denominations received
Provide total from Card/UPI transactions. This has to be taken from the swipe machines.
Specify cash retained for next opening/shift
Post-Closure Review:
Accountant reviews collection amount against system records - make changes in the closing values entered, record actions which were missed at the counter and then save.
Reconciling the Counter
Once the values are fine, the accountant has to reconcile the counter.
Once reconciled - collection amount under each of the payment modes are recorded against the corresponding ledger/account. The Cash collected is recorded in Cash In Hand account. The credit card and UPI payments are recorded in the corresponding ledgers and may need to be transferred to the bank account post deduction of the payment gateway transaction fees. You may be need to create an expense to record this transaction fees.
The following video elaborates on this process.