How does the accounting work

Taxes

Taxes are computed as follows. At sale time, ProfitSystem® gets the Accounting Class from Retail Inventory for the item being sold. It then retrieves the Tax Rates for the Tax Group assigned to that accounting class.

Before revenue is realized, ProfitSystem® posts taxes to the Tax Deposits GL account number as specified on the Taxes form. When revenue is realized taxes are posted to the Tax Revenue GL account number.

Partial Payments

As you take partial payments, they are posted to the AR/Deposits account specified by the accounting class for the sales item. Remember, on the Cash accounting method the total amount due is posted to the AR/Deposits account as a receivable at sale time, so the postings above offset it. On Ticket Zero or Pickup, the posting above are deposits.

Realizing Revenue

Revenue is posted (or realized) at different times, depending on your accounting method. On Cash, revenue is realized at sale time. On Ticket Zero, when the ticket balance is zero. On Pickup, when the item is actually picked up.