Tracking Stock and Payments During POS Sessions

Tracking Stock and Payments During POS Sessions

Overview

This article explains how iVendNext tracks stock in real time, reserves items for active sessions, and reconciles payments during shift closures.



1. Real-Time Stock Tracking

How Stock is Reserved During Active POS Sessions

When a sale is made, the system:


  1. Creates a POS Invoice – Temporarily reserves stock without updating the main ledger.

  2. Reflects in Projected Quantity – Shows as "Reserved for POS Transactions" in reports.


Key Point: Stock is reserved but not deducted until the session is closed.


Stock Projected Quantity Report

  • Actual Qty: Current physical stock.

  • Reserved for POS: Items in pending transactions.

  • Projected Qty: Available stock after accounting for reservations.


Item

Actual Qty

Reserved for POS

Projected Qty

T-Shirt (Red)

50

5

45

Jeans (Blue)

30

3

27



2. Payment Reconciliation

Modes of Payment Tracking

Each POS session records payments via:


  • Cash

  • Card

  • Store Credit

  • Gift Cards


Steps to Reconcile Payments

  1. During Session:


  • Payments are logged in POS Invoices.

  • Cash drawer amounts update in real time.


  1. At Closing:


  • The POS Closing Entry summarizes all transactions.

  • Cash Count: Verified against system totals.

  • Discrepancies: Flagged for review.


Currency Denomination Tracking

  • Manual Count: Enter bills/coins (e.g., 10x $1, 5x $5).

  • Auto-Check: System compares expected vs. actual cash.



3. Handling Discrepancies

Common Issues & Solutions

Here’s a quick look at some common issues you might run into.


Issue

Possible Cause

Resolution

Stock Shortage

Unrecorded returns/theft

Audit inventory, adjust records.

Cash Mismatch

Manual entry errors

Re-count or check transaction log.

Unconsolidated Invoices

Session not closed properly

Manually consolidate via POS Closing Entry.



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