Point of Sale
The Point of Sale application offers support for the following transactions:
Sales
This area is used to process both sales and returns using any payment method. It can be used to invoice existing quotes and orders.
Orders
Orders are used when a customer is committing to purchase goods for either future pick up or delivery. Inventory is not reduced when items are ordered, but it is reserved (committed). Available quantities reflect the amount reserved for open orders. In some cases, orders include goods that must be ordered and received prior to sale (special orders), but orders can also contain stocked goods or a combination of both. Parts of an order may be organized into groups called "item sets."
Quotes
A quote is a list of items that a customer may or may not be committed to purchasing. They can also be used a method for providing an estimate. Quotes always create a document; however, the expiration and close-after dates can be used to limit the period that the quote and quoted pricing is promised (if at all). This is determined when processing (F12). Saved quotes may be modified, sold, converted into orders, or voided (deleted), etc. Quote and order data are very similar and are saved in the same data table. Both support the use of item sets. Quotes don't commit inventory or reduce on-hand quantities.
Open Tickets (aka. Advice Notes)
Tickets (named "Advice Notes" for UK users) are a type of invoice (sale) that affect on-hand values immediately when processed, but allow for later payment processing as well as changes to the ticket before final invoicing. How would a company use tickets? A great example of ticket use is deliveries. Tickets may be created to relieve inventory as soon as the truck is loaded. When the truck returns, the ticket may be adjusted with anything the customer has returned or didn't want before being invoiced (sold). Eligible open tickets may be invoiced globally (all at one time) rather than individually using the Invoice Tickets utility (restrictions apply).
Direct Ship
The Direct Ship transaction is used when a customer purchases materials that will be shipped directly to them from a vendor (manufacturer, etc.). In this case, your company does not handle the product so no changes or tracking involving inventory needs to be done. The customer pays your company and you pay the vendor for the cost of the goods. Every Direct Ship involves a matching Purchase Order. The Purchase Order is never received because the goods are never in your company's possession. Instead, when the vendor invoices your company for the product, you create a billing invoice in Payables and link that Purchase Order with the Payable's invoice (using the Direct (F7) function). This invoices the customer as a charge to their account unless the Direct Ship order has a deposit in full. A full deposit is required by system-type accounts such as CASH and is suggested for any cash-only customers.
Installed
Installed Sales is provided for managing your company's installation jobs. The Installed Sales feature uses customer orders and open tickets to track materials used for installations and provides options for recording labor and third party services as part of an installed sale "contract." The contract is for one fixed price, so labor, third party expenses, and materials are not separate items that the customer sees. These elements of a contract are used for estimating purposes, analysis, and sometimes for tax reasons.
Charge Returns
Returns processed for customers holding charge accounts with your company may be processed from this activity. These may also be processed from the Sales activity. The reason for two separate transactions is that some companies prefer to limit certain types of transactions to specific location or user; however, their is no requirement to use Charge Returns for processing credits to receivables customers. Users may be prevented from processing returns and/or charge sales.
Rent to Own (Hire Purchase) Contract
Rent to Own, also referred to as "Hire Purchase" in the United Kingdom and other areas, gives you a way to establish a payment plan for a customer's purchase for a specific period of time. The customer makes installment payments over the term of the agreement or contract. Some portion of their payment is applied toward principal unless no financing or interest is included.
Payments
This activity is used to process the various payment types your company accepts. Payment types include: receive on account (ROA), order deposit,
Payouts
Pay out transactions handle cash payments your company makes to others (petty cash, for example). This activity also handles refunds of customer order deposits
Special Topics
This section provides additional topics related to Point of Sale that may be useful to you. These topics include:
Bank Card Processing
Convenience Fees
Foreign Currency (Setup)
Gift Cards
HMRC - Making Tax Digital
Installed Sales
Non-Stock Ordering
Pay When Paid Sales Tax
Rebate Tracking
Rental Management
Rewards Plus
VAT/GST Management