General Usage

On Account Sales

It is possible to make on account sales or take payment for on account sales in the POS.

Overview

An On Account sale refers to a sale that is made, but instead of the customer paying immediately for the goods, an invoice is given to the customer that must be paid within a set period of time.

On Account sales can be made, or paid for, through the POS. However, particular care must be taken so that the sales are processed in Cin7, and the corresponding payments are correctly reconciled in your accounting program.

On Account sales are imported individually into your accounting software, allowing you to reconcile payments against them, and chase remaining amounts.

Making an On Account Sale in the POS

Before you can make an On Account sale in the POS, the customer must already exist in the CRM, created through the backend. The customer should have one of the following:

• Be on the Wholesale price column, or
• A payment term associated with their account.

To make an On Account sale through the POS:

1. When logged in to the POS, search for the customer in the customer box.
2. Add products to the sale as usual.
3. Click Pay to finalize the sale.
4. Choose On Account as a payment method.
   

   Even if the customer would like to pay some of the total up-front, you must first create the entire sale as On Account, sync the POS, then follow the process below.

5. Print a receipt as usual.

Sales made On Account will have an invoice date applied, and therefore import into your accounting software independently of any standard retail sales, which will be batched when closing the register. The sale will not appear in the close register.

Applying a Payment to an On Account Sale

Once an On Account sale has been made - either through the backend or through the POS as described above - payments can be added to a sale.

By adding a payment in Cin7, you will be excluding the total paid from the close register. This is because in your accounting program, the total money received for that day should be reconciled against both the batch of standard retail sales made that day, and any existing on account sales that had payments made against them that day.

To add a payment through the POS:

1. When logged in to the POS, search for the customer in the customer box.
2. Click on View Product Sales History, below the customer box.
3. In the Outstanding Invoices section, you will see all of the On Account sales made against the customer.
4. Tick the invoice or invoices to be paid.
5. Enter the amount to be paid in the box below it.
6. Click Confirm Amount.
   You will be taken back to the main register page.
7. Click pay as usual, and choose a payment method.
8. Print the receipt if needed.

Though the close register will include the total taking for the day as usual, you will note that the total of the batch created will exclude any payments made.

All batches and on account sales should be imported to Xero.

When your bookkeeper comes to reconcile the total takings for the day, they will need to allocate part of the payment to the batch, and part to the correct on account invoices.

To help with this, they can use the report Print Daily Sales and Payments Report found in the retail reports dashboard.

You'll see something like the diagram above:

1. The total amount taken for that day.
2. The batch of standard POS transactions.
3. On Account payments are flagged separately.
4. Company name - so you can easily search for the invoice.
5. The total paid against this order on this occasion.
6. The original On Account order reference to reconcile with.