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• # 86028
• Thu 18 Oct 2012 02:52 PM

Hi all,


Looking for bit of help i have new client which is great, she owns shop i know how to process her purchases but i dont know how to process her till receipts (sales).


Many Thanks
    

• Sarah 
  
  
   
  
      
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• # 86029
• Thu 18 Oct 2012 03:07 PM

Hi Sarah

I would usually receive the till receipts as cash sales (dr cash cr sales) and then as she banks the money transfer (cr) from cash to (dr) bank.  Then you can reconcile the bank statement to what she has banked.

In theory, what she hasn't banked should be cash in hand.

If any of her customers pay by credit card you would dr cash and dr credit card account, cr sales.  Then as the card company transfer the card sales into the bank account you would action the transfer as above  (cr card account and dr bank account).

Hope this makes sense.

Kind regards

Debbie
 

• Debbie
  www.beckcottage.com
  
  

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• # 86030
• Thu 18 Oct 2012 03:24 PM

Hi Debbie


Thats great thank you for help, thats waht i had in mind was was not sure, i started using new software VT Transactions so need to work out how it works


Many Thanks     

• Sarah 
  
  
   
  
      
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• # 86031
• Thu 18 Oct 2012 03:44 PM

Hi Sarah

I use the cash register option in Sage in the bank section, it allows you to enter the sales information into the cash register account, you then transfer the cash from the cash register to the bank as and when your client transfers it.  


J  

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• # 86032
• Thu 18 Oct 2012 03:51 PM

Hi Sarah,

I'm using VT for a retail client & how I have done is create a till control account (TCA) under bank.

The client gives me their z-readings so I record a total receipt for the months sales (which include cash, card & on account!) into the TCA account. 

When cash deposits are made into the bank for takings & transfer that amount from the TCA into the current account.

When the customers on accounts pay their invoices, I tranfer that amount from the TCA into the current account.       

I then transfer the credit card payments as per the statement received from the TCA into the current account.

My client also pays for petty cash from the till so I record Petty Cash Voucher (PCV) payments in VT again from the TCA.

As Debsie said below, what is left over "should" be cash in hand/match the float & thankfully it does

Not sure if this is the most effective way of doing things & whilst it is working for me currently I am always looking for ways to improve processes & make things easier so if others can add to this all the better.

All the best,
Jo

Edited at 18 Oct 2012 03:52 PM GMT

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• # 86033
• Thu 18 Oct 2012 04:44 PM

Thank you all for getting back to me with you ways.


Joe that sounds great i will try and let you know how i get on.


Many Thanks    

• Sarah 
  
  
   
  
      
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