POS Closing Entry

Introduction

POS Closing Entry is the amount of cash that the cashier is left with in the cash drawer when closing the POS. It is not recommended to create a POS Closing Entry manually. However, if still the need arises you can follow the steps mentioned in this article to create a POS Closing Entry manually.

1. Prerequisites

Before creating a POS Closing Entry, it is advised that you create the following first:

• Company

• Cashier

• POS Profile

2. Steps to create a New POS Closing Entry

POS Closing Entry is automatically created when the cashier clicks on the Close Shift button on the Shift Count screen.

The closing entry can be seen on the POS Closing Entry List View screen. Navigate to Home > Retail. Then under the Opening and Closing section click on the POS Closing Entry shortcut to open the  POS Closing Entry List View screen.

In the above screenshot, a new POS Closing Entry (POS-CLO-2024-00917) was recorded when the cashier clicked on the Close Shift button. 

Click on the POS-CLO-2024-00917 entry to open the entry details screen. This will allow you to capture more details about the POS Closing Entry (As shown in the screenshot below).

It is not recommended to create a POS Closing Entry manually. However, if still the need arises you can create a POS Closing Entry manually.

Navigate to Home > Retail. Then under the Opening and Closing section click on the POS Closing Entry shortcut to open the POS Closing Entry List View screen.

Click on the Add POS Closing Entry button. This will open the New POS Closing Entry screen. 

Fill in the required information including the mandatory fields on the New POS Closing Entry screen click the Save button, to save the data and exit the screen. This will create the New POS Closing Entry and will appear on the POS Closing Entry List View screen.

3. New POS Closing Entry Screen Explained

The POS Closing Entry screen is split into the following sections. Each section contains information specific to the section it corresponds to. 

• Period Details

• User Details

• Linked Invoices

• Modes of Payment

• Totals

Period Details

The various fields in this section are explained below: 

Period End Date

Clicking on the Period End Date field opens the calendar popup. Select the Period End Date. This date is the end date range of the business date for which the transactions are to be searched. This field is mandatory. 

Posting Date 

Clicking on the Posting Date field opens the calendar popup. Select the Posting Date. This date is the end date range of the business date when the last POS transaction is recorded in the system. This field is mandatory. 

POS Opening Entry

Specify the POS Opening Entry. Click on the POS Opening Entry text field to either select a POS Opening Entry from the list of POS Opening Entries displayed or choose to create a new POS Opening Entry by clicking on the Create a new POS Opening Entry option. This field is mandatory. 

User Details

The various fields in this section are explained below: 

Company

In iVendNext, the first Company is created when an iVendNext account is set up. If you have more than one company, you can add them from: Home > Accounting > Company.

POS

Select a POS Profile. All the settings pertaining to your POS terminal collectively form a POS profile.

POS Terminal

Specify the POS Terminal. Click on the POS Terminal text field to either select a POS Terminal from the list of POS Terminals displayed or choose to create a new POS Terminal by clicking on the Create a new POS Terminal option. This field is optional. 

Cashier

Select a Cashier. A Cashier is just a standard user who has been assigned the role of a Cashier and based on this role the permissions rules are applied. This field is mandatory.

You can either select a Cashier from the list of user names displayed or choose to create a new user by clicking on the Create a new user option. 

Linked Invoices

This section allows you to link POS invoices to the POS Closing Entry.

Click on the Add Row button displayed below the POS Transactions Details section to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen. Specify the following on the Editing Row screen:

POS Invoice

Specify the POS Invoice. Click on the POS Invoice text field to either select a POS Invoice from the list of POS Invoices displayed or choose to create a new POS Invoice by clicking on the Create a new POS Invoice option.Selecting the POS Invoice will auto populate the remaining fields - Customer, Date, and Amount. However, you can edit the Date and Amount fields.  This field is mandatory. 

Customer

Specify the Customer. Click on the Customer text field to either select a Customer from the list of Customers displayed or choose to create a new Customer by clicking on the Create a new Customer option. This field is mandatory.

Date

Specify the Date. Click on the Date text field to open the Calendar pop up screen. Click on the desired date to select it. This field is mandatory.

Amount

Specify the Amount. This field is mandatory.

Is Return

Check this box if the POS Invoice is for a Sale Return transaction

Modes of Payment

Use this section to capture the various modes of payment used in the transactions performed at the POS. 

Click on the Add Row button displayed below the Payment Reconciliation section to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen. Specify the following on the Editing Row screen:

Mode of Payment

Specify the Mode of Payment. The Mode of Payment stores the medium through which payments are made or received. Click on the Mode of Payment text field to either select a Mode of Payment from the list of Mode of Payments displayed or choose to create a new Mode of Payment by clicking on the Create a new Mode of Payment option. This field is mandatory.

Closing Amount

Specify the Closing Amount. This field is mandatory.

Currency Denomination Count

Use the Currency Denomination Count section to define the opening Currency Denomination. Denomination is nothing but a unit of value  bound to a currency, usually for coins or banknotes.

Click on the Add Row button displayed below the Currency Denomination Count section to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen. Specify the following on the Editing Row screen:

Currency

Specify the Currency. The value in the field will be automatically fetched from the Company Master. This field is mandatory.

Count Value

Specify the Count value.

Tender Count Detail

Use this section allows you to verify the captured Tender Count details. The Transaction ID, Card/Account Number and the Amount details are automatically fetched.

Click on the Add Row button displayed below the Tender Count Details section to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen. Specify the following on the Editing Row screen:

Verified

Check this box if the Tender Count Details are verified.

Totals

Based on the details captured above, this section displays the Totals which includes the Grand Total and the Net Total.