Accounting for EPOS

Since Brightpearl EPOS software is fully integrated with your back-office accounting and inventory management, it's important to know the basics of what's going on behind the scenes.

Money in

When you close a sale, you are prompted to enter the amount paid by card and the amount paid by cash. These two payment methods will have been connected to "bank accounts" in Brightpearl - so that as you receive the funds, the balance on the accounts increases.

A Sales Receipt (SR) is created against the sale. The sale is also invoiced, and the SR subsequently allocated to the SI.

Money out

When you close a credit, the credit is posted into accounts in a similar way to a sale. Any amount you enter into the card/cash boxes when you close the credit will be removed from the respective bank accounts in the accounts system.

A Sales Receipt (SR) is created against the credit - even though technically you're giving money away. The credit is also credited into accounts, and the SR subsequently allocated to the SC.

Cost of Sale

All items on the sale are removed from stock, and the appropriate cost of sale entries are posted automatically, which means you have up-to-the minute accuracy in profit reporting.

Setting up 

You can choose to have two "bank accounts" for every store that you manage (cash + card), or else handle them all in just two common accounts. If you manage all your funds through two central accounts then you can use the Channel filter on accounting reports to monitor them separately.

However we'd recommend that you set up bank accounts for each of your stores, particularly for keeping track of cash amounts in the till and for reconciliation with the PDQ (card machine) reports.

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