Pay In/Out Accounts

Pay In/Out Accounts

Pay In/Out Accounts Overview

You can create accounts for the cashiers' pay-in and pay-out activities from the POS. So, when the cashiers want to pay out for some activities, that must be recorded in the balance sheet or in the ledger account.
The users with adequate permissions can create the accounts for the Pay In and Pay Out Accounts to get the transaction data other than sales in the reports, ledgers, or balance sheets.
Notes
Once the Pay In/Pay Out Accounts have been created, they can be selected from the POS Panel button configuration.
Pay-In Account: It is used to track incoming payments. It offers the following purposes:
  • Starting Cash: At the beginning of a shift or business day, the store manager or cashier might deposit an initial amount of cash into the POS system to represent the starting cash balance in the register.
  • Recording Payments: When a customer makes a payment (either in cash, check, card, etc.), this payment is recorded in the system as part of the sale. The Pay-In account helps track these transactions and ensures that money is properly accounted for in the register.
Pay-Out Account: It is needed for accurately tracking any money leaving the register for various purposes, such as providing change to customers, processing refunds, or handling small business expenses. It serves the following purposes:
  1. Improved Accuracy: Having a dedicated Pay-Out Account ensures accurate tracking of money dispensed, preventing errors in cash handling and accounting.
  2. Transparency and Accountability: By recording the reason for each Pay-Out, retailers ensure transparency, making it easier to investigate discrepancies or cash shortages.

1. Reaching "Pay In/Out Accounts"

To reach the "Pay In/Out Accounts" module, follow the below steps: 
  1. Step 1: Log into Control Center
  2. Step 2: Choose Point of Sale
  3. Step 3: Choose Maintenance
  4. Step 4: Choose Tenders
  5. Step 5: Choose Pay In/Out Accounts
Figure 1.1 below will help you in understanding the navigation better.  

Figure 1.1

2. Understanding the "Pay In/Out Accounts" Layout 

Please see the image below labeled Figure 2.1 for a description of the buttons and fields that appear on the screen.

 Figure 2.1
1. Add New Pay In/Out Account: Use this button to create a new Pay In/Out Account. 
2. Actions: It enlists various actions like Edit and Delete.
2.1: Edit: This action will help you edit the Pay In/Out record.
2.2 Delete: This button will help you delete the Pay In/Out record.

3. Add a New Pay In/Out Account

Follow the steps mentioned below to add a new Pay In/Out Account:
  1. Click the “Add New” button highlighted in Figure 2.1 above to add a new Pay In/Out Account.
  2. The form highlighted in Figure 3.1 will appear on your screen.

Figure 3.1
  1. Each field of the form is explained in later sections below.
  2. Fill in the required information in each field to add a new Pay In/Out Account.
  3. Finally, using the highlighted buttons, you can save, close, or add a new Pay In/Out Account. 

4. Edit the Pay In/Out Account

Follow the steps mentioned below to edit a Pay In/Out Account:
  1. Click the Edit button highlighted in Figure 2.1 above to edit a Pay In/Out Account.
  2. The form highlighted in Figure 4.1 will appear on your screen.

Figure 4.1
Various Save and Cancel Buttons:
1.1.  Cancel: Click on this button to discard the changes made to the form.
1.2. Delete: Click on this button to delete the form. 
1.3. Save & Close: Click on this button if you want to save all the details in the Pay In/Out form and close it.
1.4. Save & New: Click on this button if you want to save all the details in the Pay In/Out form and also want to create a new Pay In/Out Account.
1.5. Save: Click on this button if you want to stay on the same page after saving the details.

Add/Edit Fields (Pay In/Out Account):
2.1 Name: Enter the unique name for each Pay In/Out Account. This field makes it easier to identify each Pay In/Out Account record. 
2.2 Code: This field is for entering your company’s related internal accounting code for managing the Pay In/Out transactions. That means, in the accounting system of your company, there has to be a separate section for managing the pay-in and pay-out transactions. 
Notes
Not to misunderstand, this field is just for visual reference. Entering your company's internal accounting code in this field does NOT export or synchronize any pay in/pay out details to your accounting system.
2.3 Is Lottery: You can select “Yes” or “No” to enable or disable this feature, respectively. 
  1. When your Pay In/Out Account is enabled, it is only used to receive money from lottery vendors or to pay money to lottery winners. Whether you receive money from a lottery vendor or make a payment to a lottery winner, both transactions will be recorded in your Pay In/Out Account. 
  1. When this option is disabled, the system will NOT use your Pay In/Out Account solely for lottery-related transactions. In this case, the system will treat your Pay In/Out Account as a general Pay In/Out Account, encompassing all Pay In/Out transactions. 
Notes
This field is exclusively applicable to lottery-related transactions. So, the system will only consider your Pay In/Out Account with the enabled "Is Lottery" field for lottery-related transactions.
Once the accounts for Pay In/Out or Lottery are set up, they will be listed for Pay In/Out or lottery activities at POS Panel -> Buttons Setups.

5. Delete a Pay In/Out Account

Follow the steps mentioned below to delete a Pay In/Out Account:

  1. Click the "Delete" button highlighted in Figure 2.1 above to delete a Pay In/Out Account.
  2. The dialog box highlighted in Figure 5.1 will appear on your screen.

 Figure 5.1
  1. Click “Yes, Delete” to continue the process of deleting your Pay In/Out Account.
  2. Click “Cancel” to close the pop-up and skip the deletion process.

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