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Cash sales can be entered in either point-of-sale mode or in batch mode. Point-of-sale mode refers to users who are configured to use the Order Desk Cash Register Screen and/or Retail Environment. These are settings found in each user’s control panel and are generally used at contractor or retail sales counters.
Guidelines for Entering Orders for Cash Accounts
Guidelines for Creating Cash Sale Accounts
Cash sales are either entered using a special generic cash account number, or by assigning a customer account the terms code for cash or COD. Any account number can have a cash sale entered for it. The special generic cash account numbers are account numbers 80 through 99 within each company. You usually have one cash account number for each branch on your system, such as account number 99 for branch NYC or account number 98 for branch RAL. Although only account numbers 80 through 99 are reserved for this purpose, you can set up any account number as a cash account. The account name should simply be Cash Sales.
The system automatically prompts the order entry operator to enter the actual customer name, address, and phone number on the Shipto screen. Using this method, an unlimited number of customers can share the cash account. Within these generic cash account numbers individual customers can be tracked separately by name, customer purchase order number, date, order number, and invoice number. Knowing any of these, or any item number on the customer order, can help you to find the order on the system. If you have steady repeat cash sale customers, we recommend that you set them up with their own account numbers. Assign terms code for cash or COD in their Billto File record. This way you can analyze their sales just as you would a customer with credit or open terms.
In the point-of-sale mode, any customer order, or order with cash or COD terms, prompts the order entry operator to complete the fields on the Order Desk Cash Receipts screen. Even if no cash is recorded, the transaction appears on the Daily Order Desk Cash Report. It is important to balance the actual cash receipts to the Daily Order Desk Cash Report. Also, for security reasons, you should check the report for incomplete transactions. Any order with cash or COD terms should have a valid cash entry or explanation.
The Daily Order Desk Cash Report can be generated by company, branch, workstation, or salesperson. A version of the report prints automatically overnight. However, it can be generated at any time and for either today’s or yesterday’s transactions by using the Order Desk Cash options on the Additional Order Desk Functions Menu. You can run the report in various formats and versions. Try all versions before determining which to run at the branch or corporate level. These reports list each transaction and show totals by type of payment, such as cash, check, and credit card. Order desk managers use this report to balance cash, and to post the cash to accounts receivable (A/R) as either payments or advance deposits against open orders.
The cash receipts that are entered at the Order Desk are never posted automatically to AR. You must post them as part of the daily cash balancing process, or have the accounting department post them the next day. The cash sale invoices are posted overnight and appear in A/R the next morning. If you balance and post order desk cash daily when the order desk closes, then all of the paid cash sale invoices are automatically cleared. If you do not post cash at the close of the order desk, then you will need to post it the next morning.
If you are using special cash accounts, as described above, exclusively for cash sales and not for advance deposits on open orders, then the balance of these accounts should always be brought to zero. This is an important balancing mechanism to ensure that all cash sales are accounted for. Any open invoice in the cash account would then be an error.
Although cash sales in effect pass through A/R, these accounts always have a separate total. Invoice registers also separately total cash sales. If you take advance deposits against open orders (for example, you take deposit, place order but do not invoice until material is picked up or shipped), then you might want to create two special cash account numbers per branch; one for actual cash sales (invoice is printed and full amount collected) and one for advance deposits. For example, account number 99 = cash sales/branch NYC, account number 98 = advance deposit sales/branch NYC, and so on. By using this method you have better control over the actual cash sales because they will all be in one place.
If you do not have a large volume of cash business, you can combine them into a single cash account. Advance deposits are posted to A/R against the order number. When the order number is invoiced, the advance deposit is automatically applied. The system can handle multiple advance deposits against the same order, as well as underpayment, overpayment, and multiple invoices for the same order.
Guidelines for Entering Orders for Cash Accounts
When entering orders for cash accounts, it is important that you always:
Enter the customer’s purchase order number or last name in the Customer P.O. number field. This gives you an easy way to search for the order later.
Enter customer’s name, address, and phone number(s) on the Shipto screen. You can then search for the customer’s name using the Shipto Search program. Mailing labels for sales promotions can be generated from the information that is entered here.
Enter the amount paid, type of payment, and other references; check number, credit card number, and other information, as necessary, on the Order Desk Cash Receipts screen. Use the Order Desk Cash Receipts screen to explain exceptional payment situations.
If the customer is applying a previously issued credit memo, enter also apply credit number. If customer is paying an additional amount to apply to another invoice, enter apply $. to invoice number. Use the Other Reference field of the Order Desk Cash Receipts screen. These instructions appear on the daily order desk cash reports and assist the A/R operator in applying all cash correctly.
Usually, cash and carry sales are processed directly as invoices, using F9. However, your company policy might be that no invoices are created at the counter. In that case, you would have set the control panel for the terminals on the counter to No Invoices Allowed and process the orders as pick lists or acknowledgments only. The accounting department would then have to invoice the cash sales the next day. These invoices are then mailed, filed, or not even physically printed. This does not prevent you from posting the order desk cash. The cash is posted as advance deposits against the order numbers. Once invoiced, the system automatically matches the invoices to the payments by order number.
Guidelines for Creating Cash Sale Accounts
Cash sale accounts are set up in the Billto File.
Generic cash sales accounts that are used for multiple customers should use account numbers 80 - 99 if possible. If you require additional cash sale accounts, use account numbers 100-200. You can create a single generic cash account per branch, per type of customer, or per salesperson. The more retail oriented your environment is, the more generic cash sale accounts you should have.
Enter terms codes and terms fields that represent cash or COD.
Enter default shipto number 999999, which causes the system to automatically prompt for a name and shipto address each time an order is entered. Do this for all generic cash sale accounts. Note that the system automatically prompts for name and shipto address for accounts 80 - 99 regardless of whether you have entered shipto number 999999 in the Billto File.