POS is related to sale. POS (point of sale) When any person sale the goods to the other person then bill is properly maintained to give to the purchased party is called point of sale. It is very helpful to calculate the sale. POS is very useful for retailers and shopkeepers. By the help of POS small invoices can be printed quickly.A POS is very helpful to manages the selling process by a salesperson. Point Of Sale (POS) is very helpful for the small business.
How voucher type create in POS?
Two items are cerated in voucher type:
- purchased 12.5% --> This type of voucher type is created only by the purchased party when items are sold.
- sales 12.5% --> This type of voucher type is created only by the sale party when items are sold.
Name of the class --> Name of class are shown in voucher type to create a ledger. Different-2 Input and Output are also shown in voucher type. When those items are created in voucher type then it would be very easy for a user to make entry in accounting voucher. and also alteration in the name of the class. It is so because automatically shown on the accounting voucher.
GO to accounting voucher: (F8) sales voucher
press F12 for rate modification, activate slip and control P for other setting in voucher.
How to see the assessable value of input and output?
- display --> statutory report
- statutory report --> vat report
- vat report --> vat computation
vat are payable in two ways:
- single vat
- double vat
Before starting in entry, first of all create two items in ledger:
- Vat payable --> It is under the current liabilities in ledger.
- Vat refundable --> It is under the current assets in ledger.
Single vat: When single vat is payable then make entry in payment and Journal voucher. For example;
In payment voucher: When vat payable
vat payable a/c --Dr. 750
To cash a/c 750
When vat refundable
cash a/c --Dr. 750
To vat refundable a/c 750
In journal voucher: (when vat payable)
output vat a/c--Dr.
To Input vat a/c
To vat payable a/c
When vat refundable:
Vat refundable a/c
Output vat a/c Dr.
To Input vat a/c
Double entry: When single vat is payable then only make entry in payment voucher.