Table of Contents
68.6 POS Entry List - Accounting Entries
68.6.1 Balancing of Register in Single Currency
188.8.131.52 Bank Ledger Entries
184.108.40.206 G/L Entries
68.6.2 Sales in Foreign Currency
220.127.116.11 Setting up Selling Rate of Exchange
18.104.22.168 Setting up G/L & Bank Accounts
22.214.171.124 G/L Entries generated on Sale of Items on POS in foreign currencies
68.6.3 Balancing of Register in Foreign Currency
126.96.36.199 Transferring Foreign Currency from Register to Bank
188.8.131.52 Example of transfers, using different scenarios
POS Entry List - Accounting Entries
Balancing of Register in Single Currency
From the POS Entry, we will have a line referred to Balancing.
If you Navigate from the Line in the POS Entry, you will get the details of the posting:
Note: It is important that you set you accounts properly in the POS Posting Setup and the one Rounding Account in the Cash Register, as described in the Configuration section. Or else you will have issue, an example below:
Note: The transaction is not posted in G/L as No setup done for Payment Method T. It is not taking the set-up in Payment Type. This demonstrates that all Payment Type should be re-defined as well in the Payment Method List. It is an inconvenience for time being. But in the future, the Payment Method will replace the Payment Type.
The important setups for Payment Method is the POS Posting Matrix for the G/L accounts or Bank accounts. It is imperative to define them in the Posting Setup between the Payment Methods, POS Units & Payment Bins. (as shown in the section on Posting setup)
Bank Ledger Entries
Sales in Foreign Currency
Setting up Selling Rate of Exchange
On the POS, we can do transactions in foreign currency. The selling rate of exchange is set up in the payment type card. It is a pre-defined selling rate that management decides to use.
In the payment type card, we have the following:
Setting up G/L & Bank Accounts
Then the accounting setup is done in the POS Posting Setup
G/L Entries generated on Sale of Items on POS in foreign currencies
The logic is that whenever there is a transaction in the POS, the money received for payment by customer is accounted in the Cash Register A/C – 2915 which is in local currency.
The General Ledger entries generated by the above payment are as follows:
Balancing of Register in Foreign Currency
The counting and balancing page is in multicurrency, so whenever you are counting a foreign currency, you will count them in their own denominators and not need to calculate them into the equivalent local currency.
Transferring Foreign Currency from Register to Bank
Setting up the daily Rate of Exchange
The system uses the currency rate of exchange of the Navision system to do the transfers from register to another BIN such as Bank or Safe. We are hence using the daily rate of exchange and not a pre-defined selling rate.
Accounting Entries on transferring the money from Cash Register
When doing the transfers, the system will use the daily rate from the Currency Exchange table. As the G/L accounts are held in local currency, the system will convert them accordingly.
Example of transfers, using different scenarios
We start from the opening of the day following last night's Z-report. We do two sales and the various types of transfers as described below:
Z-Report > Starting Point
Calculated Amount Incl. Float
Counted Amount Incl. Float
From Register to SAFE > GBP -10 / K -50
From Register to BANK > SEK -1000 / K -100
From BANK to Register > USD 500 / K 802
From SAFE to Register > NOR 400 / K 500