13 Jan 2023 | Windward Software
POS Report & Tender Summary Report
Explore how to reconcile and correct discrepancies, errors, and posting duplications in the Point-of-Sale (POS) Report and Tender Summary Report using Windward System Five. Discover the importance of reconciling these reports for accurate accounting and bank deposits.
- Annabelle introduced the webinar, explaining the process for asking questions and accessing previous webinar presentations on the OneWord software website.
- Ivory, a software specialist with nine years of experience at OneWord, presented on the topic of POS and Tender Summary Reports.
- Ivory highlighted that both reports track transactions involving invoice payments but do not directly affect ledger accounts.
- The presenter demonstrated how to access these reports in the software's menu or navigator.
- Ivory emphasized the importance of regularly reconciling these reports for accurate bank deposits and journal entries.
- Ivory covered how to fix common issues like discrepancies, errors, and posting duplications during report finalization.
- The presenter demonstrated how to correct reports by deleting duplicated or incorrect postings, emphasizing that users must be certain about their deletions as these cannot be easily reversed.
- Ivory compared the POS transaction report and the Tender Summary Report, explaining that any changes in the former would reflect in the latter.
- The presenter recommended reconciling the reports daily or weekly for accurate cash clearing and maintained records of customer payments.
- Ivory concluded the presentation by sharing various resources available for additional support, including the Help Center, Customer Care Portal, Windward Learning Academy, Windward Professional Services, emergency support, and webinar archives.
- A Q&A session followed the presentation, but no questions were asked. Annabelle reminded attendees they could email their questions to support at a later time if needed.
- Annabelle announced that the next webinar would cover physical inventory on items with serial numbers.
0:06
Hello, good afternoon everyone.
0:08
Thank you for joining today's one word webinar My name is Annabelle and I will be your moderator for today's presentation and at the end of the presentation We'll be taking questions You can put your questions Into the question box and anything that may be a little off-topic or something that we will not be able to address During the presentation that we can answer offline You can email their questions to support at onewordsoftware.com and also you can now access our previous webinar presentations on our website at www.onewordsoftware.com slash webinars.
0:47
So our presentation today is on a POS report and a Tender Summer Report.
0:52
Our presenter for today is Ivory who is with OneWord for nine years as a software specialist and without further ado, let's get started.
1:06
Thank you, Annabel, and once again, good afternoon, everyone.
1:10
My name is Ivory, and I am your presenter for today's webinar.
1:14
Our today's topic is about point of sale transaction report and tender summer report.
1:21
So in this webinar, we will discuss how to fix discrepancies, errors, and posting duplications that you might encounter while finalizing your end of day point of sale.
1:31
But before we start, let us first highlight some important facts about the Point-of-Sale Report and Tender Summer Report in System 5.
1:41
Both Point-of-Sale and Tender Summer Report are just a record or a trail of transactions involving invoice payments.
1:51
That means postings recorded in this report does not necessarily affecting the ledger accounts as they are just trail of records.
2:00
However, we do recommend, though, that they should be filed regularly.
2:12
Now, how to access the Tender Summer Report and the Point of Sale Transaction Report?
2:17
From your menu or navigator, you go to the reports, and there you can see the Point of Sale Transaction Report and the Tender Summer Report.
2:26
If you click the Point of Sale Transaction Report, this is how the screen would look like.
2:30
These are the options that you will be selecting before you can proceed to the whole report.
2:37
Later, I will going to show you further the options or how to navigate from your system five to this particular report.
2:47
And also, for the Center Summer Report, this is how the screen would look like.
2:55
And we will also be discussing later what are the difference of this two report.
3:00
It's just a pretty small difference, but I'm going to show you what these two reports can offer.
3:10
Earlier I mentioned that it is recommended that we reconcile these reports, and you might be asking why.
3:17
Well, at the end of the day, you will be doing a bank deposit on all of your payments that you received, and of course, you would want to make sure that you're putting in the right amount and you would want to make sure that you're accounting in the correct amount of payments that you received.
3:32
Point of view report and tender summary reports also serve as a reference when you do your journal entry by the end of the day for your bank deposits.
3:42
But since this report is just a trail of all the payments transaction you post in the system and you might be seeing some incorrect figures in it, and that is why it is important to reconcile them.
3:54
We need to figure out what's causing it and how to correct it.
3:57
that is what we're going to be focusing on today's webinar.
4:02
Reconciling the point-of-cell report is really simple.
4:05
You just have to match what the system has recorded to what you actually counted.
4:10
However, sometimes as we go along reconciling it, we might encounter some issues.
4:17
And in this presentation though before we start, I'm going to just let you know that I am not going to discuss the whole process of finalizing the point of sale report because that would be in a different presentation.
4:30
I will only be focusing on how to fix discrepancy errors and posting duplications that are pretty common when you do your end of the report, and you might encounter them in the future.
4:45
So let's go ahead and proceed with the demonstration.
4:53
OK, so where to access your point of sale report and tender summary?
4:58
from the menu or the navigator, you just have to go down to the reports, and there you can find the two reports that I mentioned.
5:09
Point of the transaction report, if you click that one, you have this three options for transaction type.
5:15
The most recommended one is a cash and AR, because this will display all cash invoices and AR payments that has been paid.
5:26
I'm going to have to focus on this presentation only on the terminal that I am using, but for your case, you can select all terminals that you wish to reconcile.
5:41
And from here, you should be able to see the transaction number and the date range.
5:45
And on this particular demonstration, the date started in January 12 at 1044 in the morning up to today, since I haven't finalized it yet.
5:58
I'm going to click Next and the system will be able to show you what the transactions are.
6:06
On the Tender tab, you should be able to see the summary of the amount of each tender type.
6:15
Now I mentioned earlier that this report will serve as a reference for your journal entry by the end of the day.
6:24
And as you can see on the screen, this is the amount that will also display in your tender summer report.
6:31
Let me just pull that up real quick so you can be able to see what it looks like.
6:37
So I'm going to focus on this date.
6:42
So one of the difference between the two report is that first is the range.
6:49
On the point of the transaction report, a system, you don't have the option to type in the date range.
6:57
The system does that for you because the start date of the transaction is basically the end date on the previous transaction.
7:06
So you don't have the option to type in or to select in the date that you wish to just reconcile.
7:12
It's just depends on the transaction number and at the same time the date when it was ended than the previous days or the previous reconciliation that you've made.
7:24
While in the Tender Summary Report, there's no option for you to type in the time.
7:29
Only the date is the one that you can be able to generate based on a date range.
7:35
And if you show the tender details, you will be able to see as well the breakdown of each tender type.
7:42
For the cash, these are the breakdown of the 1,504.
7:46
and debit, this is the breakdown and so on the bottom.
7:52
Also, what the amount in here most likely would be similar in here if the date range of this report matches.
8:06
Because like I said, this report will, the date range of this one or the range of the dates and time in this one will depend on the end date of the previous transaction number when it was finalized.
8:21
Well, the tender summary report is only based on the date range that you have selected.
8:26
So in this case, they do match because they have the same date range.
8:35
Now I'm going to go back to the point of set transaction report.
8:39
So on the tender details, it is where you're going to see the breakdown of each tender type for cash, debit, check, MasterCard, Visa, and so on.
8:50
Cash count, where are you going to count in your cash physically?
8:55
And after cashing it out, you can be able to find out in here.
8:59
And after reconciling the tender details, you can be able to find out or you can be able to see the total that is being reconciled in here.
9:08
Now, on this particular presentation, like I mentioned earlier, we will only discuss issues that are related to some discrepancy or issues that you will encounter with duplication and posting.
9:26
Now, for the sake of this demonstration, I will have to discuss some, what do you call this?
9:40
I'll just have to discuss some scenarios where you encounter duplicate posting in the point of sale transaction report but only one transaction and posted in the ledger.
9:54
Like there's two payments coming in or posted in in this report but if you check if you check the invoice you can only see one payment.
10:07
Normally you will base the cash reconciliation you will base that one on how much cash that you have and how much cash you counted physically and where the debits check MasterCard and other type of tender or other type of credit cards, you will base your reconciliation on this Lips copy that you have physically.
10:29
But since we don't have that one, I will reconcile them based on what's posted on my ledger.
10:37
because as you know paying an invoice automatically posting that amount on your cash clearing.
10:46
So I'm going to compare the amount that entered in my cash clearing versus the amount that is recorded in the point of sale report.
10:56
I'm going to go to my transaction listing for the cash clearing ledger account 10-20 for a date range January 12 up to today.
11:13
Good of you.
11:15
Now, the amount that posted, the total amount that posted on my ledger is 4,498.79.
11:24
But in the point of transaction report, the total amount that I have, that the system recorded is 12,263.79.
11:32
obviously there's a huge discrepancy between the two report.
11:40
It is important to reconcile them because if you're going to use this one as a reference for your journal entry, you will have an incorrect amount to deposit.
11:55
Now let's take a look at first at the first transaction in here for Dickerson Betty.
12:02
It says that the amount paid is 2,209.06 for this single customer.
12:11
Let's open this particular transaction, and we can find that it's only for one invoice.
12:17
But it has one, two, three, four different tender types.
12:24
200 for cash, 800 for debit, 709.06 on MasterCard and 500 and Visa.
12:30
We will be comparing that one onto the point of the report.
12:36
I'm going to go with cash.
12:39
On the cash side, I can see for Dickerson-Betty, the 200.
12:44
However, as you can see, there's an extra 200 posted in here.
12:49
That means this one is making the report incorrect, the 200 and extra.
12:58
you might be asking, okay, how are we supposed to fix it?
13:04
Even though you're going to select only that one and proceed with the amount, the tender summer report still totals 1504.73.
13:14
So the purpose is we're going to make sure that the amount in here is correct.
13:20
So from a tender, what you can do, since this one is incorrect, you have options to remove or make sure that this one, the extra one is not included in the total.
13:33
How do you do that?
13:35
First, you have to make sure that you have the supervisor override option.
13:40
Because in order for you to get rid of this, is you have to turn on your supervisor override, and then that is when you can be able to delete this line, this extra line or this duplicated posting in the report.
13:57
Click delete and once it's gone, that's the only time that this standard total will be decreased and possibly corrected.
14:08
So I'm going to check that cash payment and debit for 800.
14:19
Now here, the debit is supposed to be 100 for tickets from Betty.
14:23
And that's only for one customer and one payment.
14:26
but this one is now showing 8,800.
14:33
That means there's an extra 8,000 in it, and it's pretty difficult to find or how to delete that one because it's not seeing on the screen.
14:42
Where to go is go to the Transactions tab because it is where the system's gonna show you the details of transaction.
14:50
Now I can see DickersonBetty here has an extra 8,000 adjustment and another 800 deleted.
14:59
what I'm going to do is I'm going to make sure that this one, this two, I mean this two is not going to be included on the report since this one or this two lines here are causing this debit tender type to be incorrect.
15:15
I'm going to do the same thing, activate supervisor override and delete the line, delete the line.
15:25
From here I can see that there's an extra 800 still okay this is 800 and this one is actually extra now that makes this one to be correct 709.06 for MasterCard and 500 for Visa 709 and Visa of 500 then I'm gonna proceed with the next one which is a hundred dollars for my rental business.
16:25
I'm going to go ahead with opening this one and see what this particular transaction or tender type is.
16:32
This is a $100 cash tender type, which I also need to go back to the cash tab and try to reconcile it.
16:41
As you can see, there's an extra $1,000, the same thing with the other one earlier. You might be asking, what's causing this?
16:50
Well, sometimes because But like I said earlier, the point of such transaction report is a trail of transaction.
16:55
So it records what's going on or what it records the payments that you've received or the amount that you've tendered into the system.
17:05
If you keep on clicking the tender portion of the invoice or the tender portion of the payment, like say you type in first $1,000, then you change it, you correct it, and you change it to $100.
17:18
Sometimes the system will be able to record them as if they were paid twice.
17:25
But in reality, you just corrected the payment that you accidentally type in incorrect.
17:33
Like I said, you cannot just trust whatever is the report that's showing you right away.
17:39
You just make sure to reconcile them because chances are there are some bogus or errors in the transaction when you created them.
17:52
But the good thing about it, there's a way for you to correct it before you finalize it.
17:56
And even after finalizing it, you can still correct that one for the purpose of printing the report.
18:03
However, you just have to make sure that when deleting some lines here, you are 100% sure that you are deleting the correct transaction that needs to be deleted.
18:14
And otherwise, once you delete them, you can no longer put it back on the exact date or the exact time when it was entered in the system.
18:25
You need to manually tender it again in order for it to appear in this report.
18:31
So it is also very critical if you accidentally delete the transaction that are not supposed to be deleted.
18:39
Now, like I said, whatever transactions that appeared on the tender summer report, I mean, in the point of sale transaction report also appears in the tender summer report.
18:49
So any changes that you've made in there also affects or also reflects in here because information from here is gathered or they got it from the point of sale transaction report.
19:03
So, after reconciling them correctly, this too, after deleting or adding transactions in there would always match these two of them, especially if they are put in on the same date range.
19:27
I'm going to try to check this one again and see what are other transactions that appear in here to be different.
19:37
So, they're pretty similar except for just the breakdown of the reports.
19:44
Pretending that these reports are finalized and everything is correct, this amount here should match with what your ledger is showing because by the end of the day, you will be creating a journal entry that will be deposited to your bank to clean up the cash clearing and deposit all of them to your bank.
20:15
At this point, I guess that's the whole thing about this particular report.
20:20
And just to recap about this point of transaction report and tender summary report, these two reports are just a trail of transaction.
20:31
They do not post directly to your ledger.
20:35
So all duplicate transaction posted in these two reports does not necessarily mean that they're also posted twice on your ledger.
20:43
The ledger posting is still dependent on the invoices posting or tender posted in your invoices.
20:54
So if the tender posted in your invoices are only one and showing two in this two reports, the ledger will only consider the ones that are posted in the invoice.
21:07
But it's pretty important that although it's not prerequisite that you should reconcile them daily or weekly, you have the option to just ignore and not reconcile them.
21:25
But we always recommend to reconcile them so you will always have a reference, a correct reference to match with your cash clearing and also to maintain that all your transactions receive or payments received from your customer's payment matches with what the report is showing and what you have counted.
21:45
That's the whole point.
21:48
I guess that will be the end of my presentation.
21:50
But before we proceed with the Q&A or with the question and answer, let me just inform you guys that we have the resources available right here.
22:01
We have the Help Center where all available resources are listed.
22:06
You just go to the windwardsoftware.com slash help.
22:12
Also we do have customer care portal where you can search our knowledge base, submit and track your support ticket and you can find it or you can search it under support.windwardsoftware.com.
22:26
We also have the learning, Windward Learning Academy where you can spin up new employees lesson-based topics, and you can find it through academy.windwardoncloud.com.
22:41
We also have Windward Professional Services.
22:44
If you wanted to get guidance from one of our Professional Service Specialists, or if you wish to have a one-on-one discussion with a Professional Specialist on a certain topic, you can also access or you can go to windwardsoftware.com slash professional dash services or you can contact your account manager for a code or call 1-800-663-5750.
23:14
We also have emergency support for the following situations that will qualify.
23:19
Emergency supports are like the entire system down, unable to take payment, cannot log in, recovering from a power outage and you can access them through windwardsoftware.com slash emergency.
23:33
Also, we do have webinar archives which Annabel discussed earlier.
23:39
It is where you can be able to find the past webinars or you can also sign up for future webinars.
23:48
You can search them through windwardsoftware.com slash webinars.
23:56
So again, that was the end of our presentation and we are now ready for your, any questions, you can go ahead.
24:10
All right, guys, do you have any questions?
24:32
Okay, let's see.
24:38
All right, so let's just wait for a bit.
24:40
All right, it seems like we don't have any questions, But if you do, but if you have questions later on, you can just send them to support at onewordsoftware.com.
24:57
So thank you, everyone, for joining us today.
25:01
The next webinar will be on January 27, and we'll be discussing physical inventory on items with serial numbers.
25:08
So again, thank you, everyone, for joining, and we'll talk to you again in two weeks.
25:13
Goodbye, everyone.
25:14
Thanks everyone, and hopefully you find this very helpful, and again, like Annabel mentioned, in the next two weeks we do have another webinar which is physical inventory and items with serial numbers, and I think that's going to be pretty useful topics, and I hope to see you guys in there.
25:35
Thanks Annabel, and good night everyone.
