Here are some example of standard transaction postings:

POS

Sales Journal 

Here is an example of an ACCOUNT SALE for $110 (Inc GST), with a product of $50 Average Cost (Ex GST)

Invoice

Payment

When that invoice was paid off down the track, it would post with these postings:

The Payment was made by DIRECT DEPOSIT

POS - Gift Card Purchase

When a Gift Card is PURCHASED at POS, it will use the GL settings that are in the GIFTCARDCHG Tender code “Tender to Ledger Account” field.

Here is a sample invoice where a Customer purchased a GIFT CARD and Paid Cash for it.

The Net effect of all of these is that really only updates the Gift Card charged account, and your bank.

Open

Here are the journal postings for that 1 sale.

Open

In this example, the Customer purchases a $50 Electronic Gift Card and PAYS for it by CASH

Invoice

Note: there is no GST as the Gift Card is EX GST.

There is no COGS as the Gift Card as no Cost

There is no Inventory, as there is no cost.

 It will automatically create the Payment for the CASH amount that is linked to the INVOICE

Payment

This occurs automatically as it was a “CASH SALE”.

Credit

It automatically creates a “Credit” for the adjustment required for the gift card.

Payment against the Credit

It automatically creates the payment against the credit

POS - Gift Card Redeem

When the customer comes back into the store to REDEEM the Gift Card, it does the following on the Payment side of things.

It uses the “Tender to Ledger Account” GL Account in the GIFTCARDUSED Tender Code

Payment

<<ADAM>> Still needs to check this: 14/04/2021

Once Off Sale and Purchase

Once Off General Ledger Postings

CREDITORS

Receival

When a Receival has been created, it would do the following posting:

Assuming that this receival wasnt Invoiced as yet.

The total cost of the Receival was $50 Ex GST

Then when the Invoice was created, it would do the following posting:

Stock

Stock Adjustments

When a manual stock adjustment has been created, it would do the following posting:

The total cost of the adjusted stock increased by $10 Ex GST