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Retail ADVANTAGE Point of Sale Software Online Manual Section 7.5





Here in ADVANTAGE POS Software is where you would enter journal entries that are not automatically created by the accounts payable or payroll functions.  


You will notice that the General Journal is the default journal to enter journal entries.  You can select another journal that you setup to enter transactions in if you want.  There is a selection for accounting method type to select either this is a cash or accrual type of accounting transaction.  The accrual transaction will go into the GL transactions database while the cash type transactions will go into the GL cash transactions database. 

The date of the GL transaction will default to the current date.  You can change the date to any date in the future or you can back date the transaction to the last time you closed the general ledger module.  The closed date is also displayed on this screen. 

You chose to enter a standard journal entry or a recurring entry.  If you select a recurring entry you can select from a list of previously setup journal entries.  To add line items to your journal entry just select the account you want to post to and enter the appropriate debit or credit. 

All journal entries must balance out to zero.  That means that the debits must equal the credits.  Select the post button to save the transaction or you can choose the save as recurring button to use this transaction again.  


CASH Basis vs. ACCRUAL Basis


This accounting software system can report on both cash and accrual basis for it accounting reports.  Essentially you can run either type of report at anytime.  The tax regulations let businesses figure their taxable income on a cash basis, rather than on the accrual basis.  Cash basis accounting can result in the postponing the payment of income tax, although it ordinarily does not reduce the total amount of income tax over a period of years.

Retail ADVANTAGE Point of Sale Software Online Manual Section 7.5

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Support on Retail ADVANTAGE Point of Sale Software available 9 am - 5 pm CST Monday thru Friday Call us at 281-398-3770 Sales toll free at 888-785-0882 or e-mail us at support@aknaf.com

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