Understanding POS Sessions: Opening and Closing Entries

Understanding POS Sessions: Opening and Closing Entries

Overview

This article explains how to manage POS Opening and Closing  entries in iVendNext.



1. What Are POS Opening and Closing Entries?

  • POS Opening Entry: Records the initial cash amount in the drawer when a session starts.

  • POS Closing Entry: Captures the remaining cash and transactions when a session ends.


Key Point: These entries sync data between POS and ERP systems, ensuring financial and inventory accuracy.



2. Prerequisites

Before creating entries, set up:


  • Company: Configured during iVendNext account setup.

  • Cashier: Assign a user with the Cashier role.

  • POS Profile: Defines terminal settings (e.g., payment modes, interface).



3. Automatically Creating Entries

Opening Entry

  1. The cashier enters the opening amount on the Opening Amount Screen.

  2. Clicks Start Selling → System generates the entry (e.g., POS-OPE-2025-00219).



Note: It is not recommended to create a POS Opening Entry manually. However, if still the need arises you can create a POS Opening Entry manually.

Closing Entry

  1. The cashier clicks Close Shift on the Shift Count Screen.

  2. The system generates the entry (e.g., POS-CLO-2025-00249).



Note: It is not recommended to create a POS Closing Entry manually. However, if still the need arises you can create a POS Closing Entry manually.



4. Manual Creation (If Required)

Steps for Opening Entry

  1. Navigate to Home > Retail > POS Opening Entry.

  2. Click Add POS Opening Entry and fill:

    • Period Start Date: Session start date (mandatory).

    • Cashier: Select from the list.

    • POS Profile: Pre-populates interface/cash drawer details.

    • Opening Balance: Add cash denominations (e.g., $500 in Cash USD).



Steps for Closing Entry

  1. Go to Home > Retail > POS Closing Entry.

  2. Click Add POS Closing Entry and link to the POS Opening Entry.

  3. Fill:

    • Modes of Payment: Reconcile cash, card, etc.

    • Closing Amount: Final cash drawer total.




5. Key Fields Explained

Section

Important Fields

Description

Period Details

Period Start/End Date, Posting Date

Defines the session’s date range.

User Details

Cashier, POS Terminal

Tracks responsibility and terminal used.

Payment Reconciliation

Mode of Payment, Currency Denomination

Ensures accurate cash/credit tracking.



6. Best Practices

  • Avoid Manual Entries: Use automatic creation to reduce errors.

  • Verify Denominations: Cross-check cash counts during closing.

  • Review Linked Invoices: Ensure all transactions are recorded.



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