POS Invoice
A specific form of sales invoice, POS invoices are utilized solely for point-of-sale transactions in places such as retail counters, restaurants, and shops.
By merging item picking, stock deduction, and payment taking into one step, it accelerates billing.
The POS Invoice, which is often tied to a POS Profile that establishes defaults such as the warehouse, prices, taxes, and payments, is designed for rapid entries, in contrast with a standard sales invoice.
1. Prerequisites
Ensure you have the following in place before generating a POS invoice:
Inventory items must have set prices and be available.
Customers are set up in the system.
Your counter has a POS profile established for it.
Sales tax templates and charges, if any.
Accounts for payment methods (cash, card, bank, etc.) associated with your accounting setup.
Note: By pre-filling fields such as Warehouse, Price List, and Taxes, POS Profiles assist in hastening invoicing. You would need to select them manually every time without it.
2. How to Create a POS Invoice
To generate a POS invoice:
Go to: Accounting > Sales > POS Invoice.
Choose New.
Complete the Basic Information, Items, and Payment fields with applicable data.
2.1 Basic Details
This is the basic information of the POS invoice.
Series: The invoice's naming series is generated automatically.
Company: Decide which business is handling the sale.
Customer: Choose an existing client or quickly generate a new one.
POS Profile: Select the POS Profile to inherit default settings, such as Payment Methods, Warehouse, and Taxes.
Posting Date & Time: The current date and time are automatically entered by the system, but they can be changed if necessary.
2.2 Items
You list all the goods or services included in this invoice under Items. This section is speed-optimized to facilitate easy completion of counter sales.
Item Code: Scan the bar code or choose the item from the drop-down.
Quantity: Enter the units to be sold.
Rate: The item price list will be utilized to calculate the rate of sale.
Amount: Calculated automatically as Quantity × Rate.
Update Stock: If marked, the stock will automatically be reduced when the invoice is posted.
Note: To facilitate quick POS entries, establish barcodes in Item Master if you often use them for sales.
2.3 Additional Options
Additional flags are provided in this section to control invoice behaviour.
Include Payment (POS): If selected, the invoice contains the payment details.
Is Return (Credit Note): Enable this when creating a return or refund for a previous POS Invoice.
Update Stock: This maintains the system's real-time item quantity reduction.
2.4 Statuses
A POS invoice's status shows how far along it is. Possible states include:
Draft: The invoice has been created but not yet turned in.
Submitted: The accounts are affected, the stock is updated, and the invoice is complete.
Paid: The entire amount has been posted.
Partly Paid – Only part of the payment has been received.
Return: The invoice represents a product return.
Cancelled: The invoice has been reversed and cancelled.
3. Features
3.1 Dates
The creation date of the transaction is recorded in the Dates section.
Posting Date & Time: Indicates when the transaction is posted.
Due Date: Optional, but not typically used in POS since payments are made instantly.
3.2 Accounting Dimensions
You can use accounting dimensions for better reporting if your company uses them.
Cost Centre: Assign income to a division of the company.
Project: If appropriate, tie the sale to a project.
Custom Dimensions: Any additional measurements entered into the system.
Note: Track sales performance by store branch or outlet by using Cost Centres.
3.3 Contact Information and Address
Connecting the customer's address and contact details is made possible by this field.
Billing Address: The customer's billing address.
Contact Person: A specific individual connected to the client.
3.4 Redeeming Loyalty Points
Points on the invoice can be redeemed if loyalty programs are active.
Enter how many points you want to use.
The amount of redeemed points is automatically subtracted from the invoice amount by the system.
3.5 More Information
Additional fields for taxation, discounts, payment, and printing are Includes:
Charges and Taxes:
Select a template for sales taxes and charges.
The designated tax rules are automatically applied by the system.
Discounts:
Apply a further discount to the grand total or net total.
Payments:
Payments can be directly recorded in the invoice if Include Payment (POS) is enabled.
Mode of Payment: Select Cash, Card, or Bank Transfer.
Paid Amount: Amount received.
Change Amount: Calculated automatically if the customer overpays.
Printing and Terms:
Select the POS slip or invoice format in the printing settings.
Printing Settings: Choose between POS Slip or Invoice format.
Terms & Conditions: Company policies are fetched automatically.
4. Workflow
The default sequence of a POS Invoice is as follows:
Create a POS invoice.
Add Items > Apply Taxes > Warehouse.
If you have payment information, enter it.
Save the invoice and send it in.
When submitted, the system will:
If Update Stock is selected, deduct stock from the chosen warehouse.
Enter sales and payments in the accounting system.
Refresh the balances in the customer ledger.