Hi Guys, Hope you are keeping up with RetailDAXing. I have started a blog series where we will go through different setup and ultimately the operation about Statement posting which is a key operation in Retail module. This is the 3rd part of my Statement posting blog series. In this blog we will see, the voucher postings that happens after Statement posting is done and other related inquires where we can get the information of it.
Lets consider few setups before getting into it-
- P job has been scheduled to pull the sales transactions every 5 minutes.
- Calculate statement batch job has been scheduled once per day.
- Post statement batch job has been scheduled once per day.(few hours after calculate statement)
- Post inventory batch job – every 5 minutes (if real time inventory is required at POS)
- Statement and Closing method is setup as Shift.
- Discount accounts has been setup against each discount.
Lets begin with a Sales transaction at POS. We will be opening a new shift followed by a single transaction, tender declaration and finally closing the shift.
In the above sales transaction-
- Total Sales: $349.85
- Total Tax: $20.58
- Total Discount: $155.73
- Payment – Cash: $100, Card: 249.85
Have a look at the Trial balance before we post the above sales transaction.
Next as we have P job scheduled every 5 minutes to pull transaction, check the sales transaction in Retail Store transactions Inquiry.
In this scenario, we have closed the shift because we have setup the statement method and closing method as Shift. Else it wont have calculated. Now lets see what the batch job for calculate statement has created.
The automated calculate statement will create 1 statement for each closed shift. Lets proceed for Posting the statement though batch job which we have already scheduled. After posting statement, it will show under Retail >> Inquiries >> Posted statement.
Select the Statement and click on Inquiries >> Statement vouchers to check all the voucher posted against the statement. First one will be the Invoice voucher as shown below. When the statement is posted a sales order is created and invoiced automatically, there is no packing slip update.
The financial posting as shown in T-accounts is as follows:
As the POS sales transaction is cash and carry, there should not be any balance pending against the Customer account. For this reason, the Statement posting also create and post the Payment journal for the payment amount done by different tender at POS. The payment journal gets settled against the invoice as well because of the setup done in the Retail parameters (Retail >> Setup >> Parameters >> Retail parameters >> Posting >> Settlement >> automatic settlement) (Read my previous blog for explanation of this setup)
The financial posting as shown in T-accounts is as follows:
Along with the Invoice and payment voucher, there is a third voucher that is of discount. It is posted if you want to post discount into different account. (Read my previous blog for explanation of this setup)
The financial posting as shown in T-accounts is as follows:
Finally you can see the impact of statement posting on Trail balance.
- The AR account is zero.
- The discount account is zero as we are posting the discount to individual discount accounts.
- The payment accounts gets debited.
- The discount accounts gets debited.
This is it for this blog, I hope you must have enjoyed going through the statement posting series. Please comment below if you want any more information on statement posting. I will surely add that to my blog.
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Disclaimer: The information in the weblog is provided “AS IS”; with no warranties, and confers no rights. All blog entries and editorial comments are the opinions of the author.