This session gives you an overview of Sales Cycle and Transaction Handling iVendNext.

Each unit in this chapter is designed for focused learning and should be reviewed carefully. Topics Covered in this session:

• Sale

• Sale and Line Attributes

• Sale Edits
  

• Sale Refund
  

• Purchase Cycle: Payment Entry

• Purchase Cycle: Purchase Invoice

• Purchase Cycle: Purchase Order

• Purchase Cycle: Purchase Receipt

• Void Suspend and Recall

• X Tape Report

• Z Tape Report
  

To maintain a structured learning path, participants must complete all units within the session before advancing to the next chapter.

Sale

The article below provides an introduction to Sale in iVendNext.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.

Topic - Sale and Line Attributes

The article below provides an introduction to Sale and Line Attributes in iVendNext.

Overview 

Sale and Line attributes help retailers capture additional information pertaining to a sale transaction both at the sale level and at the line level.

Prerequisites

You must define the Line Attributes and the Sale Attributes on the Line Attribute Master and the Sale Attribute Master respectively.

Sale Level Attributes

These attributes apply to the entire sale or transaction rather than individual items. They help retailers track overall sales trends and customer behaviors.

Some Sale Level Examples:

Some common examples are:

Customer Information: 

Captures details like loyalty status, purchase history, or demographics.

Payment Method:

 Whether the customer paid via cash, credit card, or digital wallet.

Store Location: 

The physical or online store where the sale occurred.

Customer Type: 

Whether the buyer is a new or returning customer.

Sale Level Discounts: 

Any overall discount applied to the entire purchase.

Salesperson ID: 

The employee who processed the transaction.

Line Level Attributes

These attributes apply to individual items within a sale. They help retailers analyze product-specific trends.

Some Line Level Examples:

Some common examples are:

Item SKU: 

The unique identifier for each item sold.

Quantity: 

The number of units purchased for each product.

Item Level Discounts: 

Discounts applied to specific products rather than the entire sale.

Size and Color:

 Variations of the product purchased.

Tax Rate: 

The tax applied to each item, which may vary by category.

Retail Scenarios

Some retail examples are:

Retail Example - 01

Imagine a customer buys:

• 2 pairs of jeans (one blue, one black)

• 1 t-shirt

• 1 pair of sneakers

Sale Level Attributes:

• Payment Method: Credit Card

• Store Location: New Delhi Branch

• Customer Type: Returning Customer

• Salesperson ID: 12345

Line Level Attributes:

• Jeans (Blue) – SKU: 5678, Quantity: 1, Discount: 10%

• Jeans (Black) – SKU: 5679, Quantity: 1, Discount: 10%

• T-Shirt – SKU: 3456, Quantity: 1, No Discount

• Sneakers – SKU: 7890, Quantity: 1, Tax: 5%

Retail Example - 02

Imagine a customer buys:

• 1 Laptop

• 1 Wireless Mouse

• 1 Laptop Bag

Sale Level Attributes Captured:

• Payment Method: Credit Card

• Store Location: New Delhi Branch

• Customer Type: Returning Customer

• Salesperson ID: 98765

Line Level Attributes Captured:

• Laptop – SKU: 1234, Quantity: 1, Warranty: 2 Years

• Wireless Mouse – SKU: 5678, Quantity: 1, Discount: 15%

• Laptop Bag – SKU: 9101, Quantity: 1, Tax: 5%

POS Implementation - Sale Attribute

1. Launch POS

Begin by opening the Point of Sale (POS) system to initiate a new transaction.

2. Add Item

Select and add the items the customer intends to purchase.

3. Add Customer

Capture the relevant customer details for the transaction. This includes identifying:

• New Customer: First-time buyers with no previous records in the system.

• Existing Customer: Repeat buyers whose details are already stored.

4. Conclude the Sale

Proceed with finalizing the transaction, including payment processing.

5. Launch POS Invoice

After the sale is completed, generate the POS Invoice for the customer.

Tracking Sale Attributes in POS Invoices

Navigate to the POS Invoice List View Screen

Search and locate your desired POS Invoice

Scroll down to locate the POS Invoice Sale Attribute section.

The Customer Type Sale Attribute will store the value: "EXISTING" (if the customer has shopped before).

POS Implementation - Line Item Attribute

1. Launch POS

Begin by opening the Point of Sale (POS) system to initiate a new transaction.

2. Add Item

Select and add the items the customer intends to purchase. Capture the relevant item details for the transaction. This includes identifying:

• Color: Specify the item's color.

• Brand: Define the item's brand identity.

3. Add Customer

Add Customer to record the sale you've made against a customer's name.

4. Conclude the Sale

Proceed with finalizing the transaction, including payment processing.

5. Launch POS Invoice

After the sale is completed, generate the POS Invoice for the customer.

Tracking Line Item Attributes in POS Invoices

Navigate to the POS Invoice List View Screen

Search and locate your desired POS Invoice

Scroll down to locate the POS Invoice Transaction Item Attribute section.

The Brand Line Item Attribute stores the value: "Meissen Porcelain" 

The Color Line Item Attribute stores the value: "Black" 

Conclusion

The document outlines the importance of Sale and Line Attributes in retail transactions, which help capture additional details at both the sale (transaction) level and the line (item) level.

Additional Learning Resources

For deeper insights and ongoing support, participants are encouraged to explore the following:

• 📘 iVendNext Wiki Documentation: Access the official user manual for detailed guidance on system features and workflows.
  Visit the Wiki Docs

• 🛠️ iVendNext Help Portal: Browse categorized knowledge articles covering Accounting, Buying, Selling, Stock, and more.
  Explore the Help Portal

These resources complement your training journey and serve as valuable references throughout the certification process.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.

Topic - Sale Edits

The article below provides an introduction to Sale Edits in iVendNext.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.

Sale Refund

The article below provides an introduction to Sale Refund in iVendNext.

Overview

In iVendNext, performing a Sale Return involves reversing a previous sale transaction, typically due to customer dissatisfaction, damaged goods, or incorrect purchases. 

Once you have followed the steps detailed in this article, you should all be able to perform a sale refund using iVendNext POS application. 

Steps to Perform a Sale Return

The steps to perform a Sale Return in iVendNext are summarized below:

1. Access the Sale Return Function

• Launch iVendNext POS

• Switch to Transaction Mode

• Select the Sale Return option

2. Initiate the Return Transaction

• Perform a Transaction Search

• Select the Return Transaction

•  Perform an item search using the Item Code, Item Description, or Item Barcode, alternatively scan the barcode of the returned item

3. Verify the Return Items

• Ensure the returned items match the original sale details

• Check for any applicable return policies (e.g., time limits, condition items).

4. Select the Refund Method

• Choose whether the refund will be processed as cash, store credit, or reversal to the original payment method.

• If applicable, adjust loyalty points or discounts linked to the original sale.

5. Apply Reason Codes (Optional)

• Select the appropriate reason code for the return (e.g., defective item, wrong product, customer dissatisfaction).

• This helps in tracking return trends and improving inventory management.

6. Finalize the Return

• Confirm the transaction and generate a return receipt for the customer.

• Update inventory records to reflect the returned stock.

7. Review Reports and Adjustments

• Ensure the return is recorded in sales reports for reconciliation.

• If necessary, adjust stock levels and financial entries accordingly.

Complete Return and Partial Return

A Complete Sale Return and a Partial Sale Return differ in the extent of the returned items and their impact on inventory and financial records.

Complete Sale Return

• The entire transaction is reversed, meaning all items from the original sale are returned.

• The customer receives a full refund or store credit for the total purchase amount.

• Inventory is fully restored, and financial adjustments reflect the complete reversal.

• Typically used when a customer is dissatisfied with the entire purchase or when an order was processed incorrectly.

Partial Sale Return

• Only some items from the original sale are returned, while others remain with the customer.

• The refund is calculated based on the value of the returned items.

• Inventory is updated only for the returned products, while the rest of the transaction remains valid.

• Common in cases where a customer wants to return a defective item but keep the rest of their purchase.

Impact of Complete vs. Partial Sale Returns on Loyalty Points

Performing a Sale Return involves reversing a previous sale transaction, and this directly affects the customer's loyalty points balance.

Loyalty Points Adjustments: Complete Sale Return

• All loyalty points earned from the original purchase are fully deducted from the customer's account.

• If the points were redeemed in the transaction, the system may reverse the redemption or adjust the customer's balance accordingly.

• Some retailers may allow customers to retain a portion of points as a goodwill gesture.

Loyalty Points Adjustments: Partial Sale Return:

• Loyalty points are deducted only for the returned items, while points for retained items remain intact.

• If the return affects a tiered loyalty program, the customer's status may be recalculated based on the adjusted spending.

• If points were redeemed for a discount, the system may recalculate the discount value based on the remaining purchase.

Additional Learning Resources

For deeper insights and ongoing support, participants are encouraged to explore the following:

• 📘 iVendNext Wiki Documentation: Access the official user manual for detailed guidance on system features and workflows.
  Visit the Wiki Docs

• 🛠️ iVendNext Help Portal: Browse categorized knowledge articles covering Accounting, Buying, Selling, Stock, and more.
  Explore the Help Portal

These resources complement your training journey and serve as valuable references throughout the certification process.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.

Purchase Cycle: Payment Entry

The article below provides an introduction to Payment Entry in iVendNext.

Overview

A Payment Entry is a record indicating that payment has been made for an invoice.

Payment Entry can be made against the following transactions.

• Sales Invoice

• Purchase Invoice

• Sales Order (Advance Payment)

• Purchase Order (Advance Payment)

• Expense Claim

• Internal Transfer

In iVendNext, there are two options through which User can capture the payment:

• Payment Entry (Default)

• Journal Entry

Here are diagrams to understand the flow:

In Sales:

In Purchase:

To access the Payment Entry list, go to: Home > Accounting > Accounts Receivable/Payable > Payment Entry

1. Prerequisites 

A Payment Entry can also be created directly then linked to an order/invoice later. Before creating and using Payment Entry, it is advised to create the following first:

1. Customer

2. Supplier

3. Bank Account

If you're following the Sales/Purchase Cycle, you'd need the following:

1. Sales Order (Advance Payment)

2. Purchase Order (Advance Payment)

3. Sales Invoice

4. Purchase Invoice

Set up:

1. Chart Of Accounts

2. Company (for default accounts)

2. How to create a Payment Entry 

On submitting a document against which Payment Entry can be made, you will find the Payment option under the Create button.

Change the posting date.

The Payment Type will be set based on the transaction you're coming from. The types are 'Receive', 'Pay', and 'Internal Transfer'.

The Party Type, Party, Party Name will be fetched automatically.

The Account Paid To and Account Paid From will be fetched as set in the Company form.

The Amount Paid will be fetched from the Invoice.

Save and Submit.

2.1 Creating a Payment Manually 

A Payment Entry created manually will have no order/invoice linked to it. Payments made this will be recorded in the Customer's/Supplier's account and can be reconciled later using the Payment Reconciliation Tool.

1. Go to the Payment Entry list and click on New.

2. Select the Party Type and the respective Customer/Supplier.

3. Select the Bank Account/Cash Account Paid To and Paid From. Enter the Cheque Number and date of bank transfer.

4. Enter the Amount Paid.

5. Save and Submit.

3. Features 

3.1 Setting Mode of Payment 

Mode of Payment: Entering this helps classify Payment Entries based on the payment mode used. Modes of Payment can be Bank, Cash, Wire Transfer, etc.

Tip: In the Mode of Payment master, default Account can be set. This default payment Account will be fetched into Payment Entries.

3.2 Payment From/To 

• Party Type: Whether Customer, Supplier, Employee, Shareholder, Student, or NGO Member.

• Party: The specific party for which the Payment Entry is made.

• Party Name: The name of the party, this is fetched automatically.

• Company Bank Account: Your Company's Bank Account.

• Party Bank Account: The Party's Bank Account.

• Contact: If the Party is an organization, a Contact person can be stored here.

3.3 Accounts 

• Party Balance: The overall amount receivable or payable from Customer or Supplier from Invoices set in the current Payment Entry. Paid amounts will be positive and if advance payments are made, they will be negative.

• Account Paid From: The Account from which the amount will be deducted when Payment is submitted.

• Account Paid To: The CoA account from which the amount will be added when Payment Entry is submitted.

• Account Currency: The Currencies of these accounts will be fetched as set in the Account and cannot be edited here. To know about more about transactions in multiple currencies, visit this page.

• Account Balance: The total amount balance from all the invoices of the selected accounts.

• Paid Amount: The total amount paid for the current Payment Entry is shown in this field.

Note: When making Payment Entries, the default bank account will be fetched in the following order if set:

• Company form

• Mode of Payment default account

• Customer/Supplier default bank account

• Select manually in Payment Entry

3.4 Reference

Fetching outstanding Invoices 

This can be used to make payments to multiple Sales Invoices using one Payment Entry. When creating a new Payment Entry, on clicking the Get Outstanding Invoices button or the Get Outstanding Orders button, all the outstanding Invoices and open Orders respectively will be fetched for the party. You need to enter the 'Paid Amount' to see this button. From here a date range and invoices to be fetched can be selected.

If the Party has not made full payment, enter the amount paid in the 'Allocated' field.

If creating Payment Entry for a Customer, the Payment Amount will be allocated against a Sales Invoice. On the same lines, when creating Payment Entry for a Supplier, Payment Amount will be allocated against a Purchase Invoice.

Payment References table 

• Type: Whether the payment is being made against a Sales Order, Sales Invoice, or a Journal Entry.

• Name: The particular transaction ID is fetched/selected here.

• Total Amount: The total amount of one Invoice/Journal Entry in the row.

• Outstanding: The amount to receive/to pay for this invoice.

• Allocated: If the Paid Amount is less than the invoice amount only the paid amount will be allocated to the invoice(s) fetched in the Payment Entry. The payment may be made in parts, for example, if there are three invoices of amounts 20, 20, 20, the Paid Amount is 60 then this Paid Amount will be distributed equally. Payment Terms may also be involved.

What is an Unallocated Amount? 

When a Payment Entry is made in iVendNext and the Paid Amount is more than the total invoice amount, it is stored in the Customer's/Supplier's account. This amount is hence currently 'Unallocated'. An unallocated amount can be used against future invoices.

For example, you create a Sales Invoice totaling 1,000 and the Customer pays 1,500. When another invoice is created for this Customer in the future for 1,000 again, the previously paid 500 can be used.

3.5 Deductions or Loss 

When a Payment Entry is created against an invoice, there could be some difference in the actual Paid Amount and the invoice outstanding amount. This difference could be due to rounding errors or changes in the currency exchange rate. You can set an Account here where this difference amount will be booked.

The loss/deductions can be written off. Let's see an example here where the paid amount is 25 but the allocated amount is 30 since 30 is the amount to be collected as per the invoice. The 'Difference Amount' will be 5 in this case. This difference amount can occur due to discounts or Currency Exchange. The Difference Amount needs to be 0 in order to submit the Payment Entry. This can be adjusted using the Make Difference Entry button. The amount will be adjusted in the Write Off account.

3.6 Write Off 

Write off happens when the paid amount is less than the allocated amount. I.e. the remaining amount is considered as lost in miscellaneous charges or that amount isn't going to be paid. This is considered a loss.

3.5 After Submitting 

Save and Submit Payment Entry. On submission, outstanding will be updated in the Invoices.

If payment entry was created against Sales Order or Purchase Order, the field 'Advance Paid' will be updated in them. When creating Invoice against those transactions, Payment Entry will be auto-updated in that Invoice so that you can allocate invoice amount against advance payment entry.

For incoming payment, the accounts posting will be done as follows.

• Debit: Bank or Cash Account

• Credit: Customer (Debtor)

For outgoing payment:

• Debit: Supplier (Creditor)

• Credit: Bank or Cash Account

4. Other cases 

4.1 Multi Currency Payment Entry 

If you want to maintain a receivable/payable account in foreign currency, then create accounts with foreign currency (different from Company currency) and link it in the party account. For example: iVendNext allows you to maintain accounts and invoicing in multiple currencies. If an invoice is made in the party currency, the Currency Exchange Rate between the Company's base currency and party currency is also entered in the invoice.

Note: A separate Debtor/Creditor account needs to be created and selected in the Sales Invoice/Order for currency exchange to work correctly. For example, if the Customer is from the US, create a receivable account called 'Debtors US'.

When creating a Payment Entry against that invoice, the current exchange rate will be fetched, but you can set the Currency Exchange Rate at the time of payment to match your records.

Click on the Set Exchange Gain/Loss button to automatically add a row to write off the difference amount.

Since Currency Exchange Rate fluctuates all the time, it can lead to a difference in the payment amount against invoice total. This difference amount can be booked in the Currency Exchange Gain/Loss Amount.

Payments can also be made independent of invoices by creating a new Payment Entry.

4.2 Internal Transfer 

Internal Transfer is used in cases where the money is transferred between the same Company's accounts. For example, if a customer from the US using PayPal, transferring money from PayPal to a bank account can be considered as Internal Transfer.

Following internal transfers can be managed from the Payment Entry.

1. Bank - Cash

2. Bank - Bank

3. Cash - Cash

4. Cash - Bank

4.3 Managing Different Payment Scenarios 

For an unpaid invoice, outstanding amount = grand total. When creating Payment Entries, the value in the outstanding amount will reduce.

In most cases, apart from retail sales, billing and payments are separate activities. There are several combinations in which these payments are done. These cases apply to both Sales and Purchases.

• They can be upfront (100% in advance).

• Post shipment. Either on delivery or within a few days of delivery.

• Part in advance and part on or post delivery.

• Payments can be made together for a bunch of invoices.

• Advances can be given together for a bunch of invoices (and can be split across invoices).

iVendNext allows you to manage all these scenarios. All accounting entries (GL Entry) can be made against a Sales Invoice, Purchase Invoice or Payment Entry of advance payment (in special cases, an invoice can be made via a Sales Invoice too).

The total outstanding amount against an invoice is the sum of all the accounting entries that are made “against” (or are linked to) that invoice. This way you can combine or split payments in Payment Entry to manage the scenarios.

4.4 Difference between Payment Entry and Journal Entry 

1. Using Journal Entry requires an understanding of which Account will get Debited or Credited. In the Payment Entry, it is managed in the backend, hence simpler for the User.

2. Payment Entry is more efficient in managing payments in foreign currencies.

3. Cheques can be printed from Payment Entries using the Cheque Print Format.

4. Journal Entry can still be used for:

• Updating opening balance in Accounts.

• Fixed Asset Depreciation entry.

• For adjusting Credit Note against Sales Invoice and Debit Note against Purchase Invoice, in case there is no payment happening at all.

4.5 Payments Using Journal Entry 

To make payment using Journal Entry follow these steps:

1. Activate Payment via Journal Entry. Go to Accounting > Accounting Masters > Accounts Settings, check the box 'Make Payment via Journal Entry'.

2. On submitting a document against which Journal Entry can be made, you will find the Payment under the Create button.

3. Save and submit the journal entry to record the payment against the invoice

Additional Learning Resources

For deeper insights and ongoing support, participants are encouraged to explore the following:

• 📘 iVendNext Wiki Documentation: Access the official user manual for detailed guidance on system features and workflows.
  Visit the Wiki Docs

• 🛠️ iVendNext Help Portal: Browse categorized knowledge articles covering Accounting, Buying, Selling, Stock, and more.
  Explore the Help Portal

These resources complement your training journey and serve as valuable references throughout the certification process.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.

Purchase Cycle: Purchase Invoice

The article below provides an introduction to Purchase Invoice in iVendNext.

Overview

A Purchase Invoice is a bill you receive from your Suppliers against which you need to make the payment.

Purchase Invoice is the exact opposite of your Sales Invoice. Here you accrue expenses to your Supplier. Making a Purchase Invoice is very similar to making a Purchase Order.

To access the Purchase Invoice list, go to:

Home > Accounting > Accounts Payable > Purchase Invoice

1. Prerequisites 

Before creating and using a Purchase Invoice, it is advised to create the following first:

• Item

• Supplier

• Purchase Order

• Purchase Receipt (optional)

2. How to create a Purchase Invoice: 

A Purchase Invoice is usually created from a Purchase Order or a Purchase Receipt. The Supplier's Item details will be fetched into the Purchase Invoice. However, you can also create a Purchase Invoice directly.

To fetch the details automatically in a Purchase Invoice, click on the Get Items from. The details can be fetched from a Purchase Order or Purchase Receipt.

For manual creation, follow these steps:

1. Go to the Purchase Invoice list, click on New.

2. Select the Supplier.

3. The posting date and time will be set to current, you can edit after you tick the checkbox below Posting Time.

4. Set the Due Date for payment.

5. Add Items and quantities in the Items table.

6. The Rate and Amount will be fetched.

7. Save and Submit.

2.1 Additional options when creating a Purchase Invoice 

• Is Paid: You can tick 'Is Paid' if the amount has already been paid via an Advance Payment Entry. This should be ticked if there is full or partial payment.

• Is Return (Debit Note): Tick this if the customer has returned the Items. To know more details, visit the Debit Note page.

• Apply Tax Withholding Amount: If the selected Supplier has a Tax Withholding Category set, this checkbox will be enabled. For more information, visit the Tax Withholding Category page.

2.2 Statuses 

• Draft: A draft is saved but yet to be submitted to the system.

• Return: The Items have been returned to the Supplier.

• Debit Note Issued: The Items have been returned and a Debit Note has been issued against the invoice.

• Submitted: The Purchase Invoice has been submitted to the system and the general ledger has been updated.

• Paid: Supplier has been fully paid the invoice amount and the corresponding Payment Entries have been submitted.

• Partly Paid: Supplier has been paid a part of the invoice amount and the corresponding Payment Entries have been submitted.

• Unpaid: The Purchase Invoice is yet to be paid.

• Overdue: The due date has passed for payment.

• Canceled: The invoice has been canceled due to some reason.

3. Features 

3.1 Accounting Dimensions 

Accounting Dimensions lets you tag transactions based on a specific Territory, Branch, Customer, etc. This helps in viewing accounting statements separately based on the criteria selected. To know more, visit the Accounting Dimensions page.

Note: Project and Cost Center are treated as dimensions by default.

3.2 Holding the Invoice 

Sometimes you may need to hold an invoice from being submitted.

Hold Invoice: Enable this checkbox to put the Purchase Invoice on hold. This can be done only before submitting the invoice. Once 'Hold Invoice' is enabled and the Purchase Invoice is submitted, the status will change to 'Temporarily on Hold'.

Once the purchase invoice gets submitted and you want to change 'Release Date' then you can take the help of the 'Hold Invoice' button, which is available on the top right.

If you want to hold a submitted purchase invoice then you can hold it using the 'Block Invoice' option and If you want to unblock again then use the 'Unblock Invoice' option.

This is invoice level holding, Suppliers can be put on hold. Learn more here.

3.3 Supplier Invoice Details 

• Supplier Invoice No: The Supplier may identify this order with a number of his own. This is for reference.

• Supplier Invoice Date: The date on which the Supplier placed/confirmed your order from his end.

3.4 Address and Contact 

• Supplier Address: This is the Billing Address of the Supplier.

• Contact Person: If the Supplier is a Company, the person to be contacted is fetched in this field if set in the Supplier form.

• Shipping Address: Address where the items will be shipped to.

For India, the following details can be recorded for GST purposes:

• Supplier GSTIN

• Place of Supply

• Company GSTIN

3.5 Currency and Price list 

You can set the currency in which the Purchase Invoice order is to be sent. This is fetched from the Purchase Order. If you set a Pricing List, then the item prices will be fetched from that list. Clicking on 'Ignore Pricing Rule' will ignore the Pricing Rules set in Accounts > Pricing Rule.

Read about Price Lists and Multi-Currency Transactions to know more.

3.6 Subcontracting or 'Supply Raw Materials' 

Setting 'Supply Raw Materials' option is useful for subcontracting where you provide the raw materials for manufacturing an Item. To know more, visit the Subcontracting page.

3.7 Items table 

• scan barcode: You can add Items in the Items table by scanning their barcodes if you have a barcode scanner. Read documentation for tracking items using barcode to know more.

• The Item Code, name, description, Image, and Manufacturer will be fetched from the Item master.

• Manufacturer: If the Item is manufactured by a specific manufacturer, it can be added here. This will be fetched if set in the Item master.

• Quantity and Rate: When you select the Item code, its name, description, and UOM will be fetched. The 'UOM Conversion Factor' is set to 1 by default, you can change it depending on the UOM received from the seller, more in the next section.
  'Price List Rate' will be fetched if a Standard Buying rate is set. 'Last Purchase Rate' shows the rate of the item from your last Purchase Order. Rate is fetched if set in the item master. You can attach an Item Tax Template to apply a specific tax rate to the item.

• Item weights will be fetched if set in the Item master else enter manually.

• Discount on Price List Rate: You can apply a discount on individual Items percentage-wise or on the total amount of the Item. Read Applying Discount for more details.

• Item Weight: The Item Weight details per unit and Weight UOM are fetched if set in the Item master, else enter manually.

• Accounting Details: The Expense account can be changed here you wish to.

• Deferred Expense: If the expense for this Item will be billed over the coming months in parts, then tick on 'Enable Deferred Expense'. To know more, visit the Deferred Expense page.

• Allow Zero Valuation Rate: Ticking on 'Allow Zero Valuation Rate' will allow submitting the Purchase Receipt even if the Valuation Rate of the Item is 0. This can be a sample item or due to a mutual understanding with your Supplier.

• BOM: If there is a Bill of Materials created for the Item, it'll be fetched here. This is useful for reference when subcontracting.

• Item Tax Template: You can set an Item Tax Template to apply a specific Tax amount to this particular Item. To know more, visit this page.

• Page Break will create a page break just before this Item when printing.

3.8 Update Stock 

We have introduced an immutable ledger which changes the rules for cancellation of stock entries and posting backdated stock transactions in iVendNext. Learn more here.

The Update Stock checkbox should be checked if you want iVendNext to automatically update your inventory. Consequently, there will be no need for a Delivery Note.

3.9 Taxes and charges 

The Taxes and Charges will be fetched from the Purchase Order or Purchase Receipt.

Visit the Purchase Taxes and Charges Template page to know more about taxes.

The total taxes and charges will be displayed below the table.

To add taxes automatically via a Tax Category, visit this page.

Make sure to mark all your taxes in the Taxes and Charges table correctly for an accurate valuation.

3.10 Shipping Rule 

A Shipping Rule helps set the cost of shipping an Item. The cost will usually increase with the distance of shipping. To know more, visit the Shipping Rule page.

3.11 Additional Discount 

Any additional discounts to the whole Invoice can be set in this section. This discount could be based on the Grand Total i.e., post tax/charges or Net total i.e., pre tax/charges. The additional discount can be applied as a percentage or an amount. Visit the Applying Discount page for more details.

3.12 Advance Payment 

For high-value Items, the seller can request an advance payment before processing the order. The Get Advances Received button opens a popup from where you can fetch the orders where advance payment was made. To know more, visit the Advance Payment Entry page.

3.13 Payment Terms 

The payment for an invoice may be made in parts depending on your understanding with the Supplier. This is fetched if set in the Purchase Order. To know more, visit the Payment Terms page.

3.14 Write Off 

Write off happens when the Customer pays an amount less than the invoice amount. This may be a small difference like 0.50. Over several orders, this might add up to a big number. For accounting accuracy, this difference amount is 'written off'. To know more, visit the Payment Terms page.

3.15 Terms and Conditions 

In Sales/Purchase transactions there might be certain Terms and Conditions based on which the Supplier provides goods or services to the Customer. You can apply the Terms and Conditions to transactions to transactions and they will appear when printing the document. To know about Terms and Conditions, click here

3.16 Printing Settings 

Letterhead 

You can print your Purchase Invoice on your Company's letterhead. Know more here.

'Group same items' will group the same items added multiple times in the Items table. This can be seen when your print.

Print Headings 

Purchase Invoice headings can also be changed when printing the document. You can do this by selecting a Print Heading. To create new Print Headings go to: Home > Settings > Printing > Print Heading. Know more here.

There are additional checkboxes for printing the Purchase Invoice without the amount, this might be useful when the Item is of high value. You can also group the same items in one row when printing.

3.17 GST Details (for India) 

The following details can be set for GST:

• GST Category

• Invoice Copy

• Reverse Charge

• E-commerce GSTIN

• Eligibility For ITC

• Availed ITC Integrated Tax

• Availed ITC Central Tax

• Availed ITC State/UT Tax

• Availed ITC Cess

3.18 More Information 

• Is Opening Entry: If this is an opening entry to affect your accounts select 'Yes'. i.e. if you're migrating from another ERP to iVendNext mid year, you might want to use an Opening Entry to update account balances in iVendNext.

• Remarks: Any additional remarks about the Purchase Invoice can be added here.

3.19 After Submitting 

On submitting a Purchase Invoice, the following documents can be created against it:

1. Journal Entry

2. Payment Entry

3. Payment Request

4. Landed Cost Voucher

5. Asset

4. More 

4.1 Accounting Impact 

Similar to a Sales Invoice, in a Purchase Invoice you have to enter an Expense or an Asset account for each row in your Items table. This helps to indicate if the Item is an Asset or an Expense. You can also change the Cost Center. These can also be set in the Item master. The Cost Center can be set at the Company level.

The Purchase Invoice will affect your accounts as follows:

• Accounting entries (GL Entry) for a typical double entry “purchase”:

• Debits:

• Expense or Asset (net totals, excluding taxes)

• Taxes (/assets if VAT-type or expense again)

• Credits:

• Supplier

4.2 Accounting When Is Paid is checked 

If Is Paid is checked, iVendNext will also make the following accounting entries:

Debits:

• Supplier

Credits:

• Bank/Cash Account

To see entries in your Purchase Invoice after you “Submit”, click on “View Ledger”.

4.3 Is purchase an “Expense” or an “Asset”? 

If the Item is consumed immediately on purchase, or if it is a service, then the purchase becomes an “Expense”. For example, a telephone bill or travel bill is an “Expense” - it is already consumed.

For inventory items that have a value, these purchases are not yet “Expense”, because they still have a value while they remain in your stock. They are “Assets”. If they are raw-materials (used in a process), they will become “Expense” the moment they are consumed in the process. If they are to be sold to a Customer, they become “Expense” when you ship them to the Customer.

4.4 Deducting Taxes at Source 

In many countries, the law may require you to deduct taxes, while paying your suppliers. These taxes could be based on a standard rate. Under these types of schemes, typically if a Supplier crosses a certain threshold of payment, and if the type of product is taxable, you may have to deduct some tax (which you pay back to your government, on your Supplier’s behalf).

To do this, you will have to make a new Tax Account under “Tax Liabilities” or similar and credit this Account by the percent you are bound to deduct for every transaction.

4.5 Hold Payments For A Purchase Invoice 

There are two ways to put a purchase invoice on hold:

• Date Span Hold

• Explicit Hold

Explicit Hold 

Explicit hold holds the purchase invoice indefinitely. To do it, in the "Hold Invoice" section of the purchase invoice form, simply check the "Hold Invoice" checkbox. In the "Reason For Putting On Hold" text field, type a comment explaining why the invoice is to be put on hold.

If you need to hold a submitted invoice, click the "Make" button and click "Block Invoice". Also, add a comment explaining why the invoice is to be put on hold in the dialog that pops up and click "Save".

Date Span Hold 

Date span hold holds the purchase invoice until a specified date. To do it, in the "Hold Invoice" section of the purchase invoice form, check the "Hold Invoice" checkbox. Next, input the release date in the dialog that pops up and click "Save". The release date is the date that the hold on the document expires.

After the invoice has been saved, you can change the release date by clicking on the "Hold Invoice" drop-down button and then "Change Release Date". This action will cause a dialog to appear.

Select the new release date and click "Save". You should also enter a comment in the "Reason For Putting On Hold" field.

Take note of the following:

• All purchases that have been placed on hold will not be included in a Payment Entry's references table

• The release date cannot be in the past.

• You can only block or unblock a purchase invoice if it is unpaid.

• You can only change the release date if the invoice is unpaid.

4.6 Provisional accounting for expenses (only for Non-Stock Items) 

In many situations, a service is received and the expense is incurred but the Purchase Invoicing for that service is done in the subsequent month, so this expense doesn't flow into your monthly financial statements like Profit and Loss as invoicing is still pending. 

Provisional Accounting helps you address this problem. Below are the steps to set up provisional accounting.

1. Enable provisional accounting in the company master and set the default provisional account

2. Make a Purchase Receipt for a non-stock item

3. Make a Purchase Invoice against the Purchase Receipt Accounting entries against the Purchase Invoice will be posted as usual. On posting a purchase invoice accounting entries against the purchase receipt will be reversed

Additional Learning Resources

For deeper insights and ongoing support, participants are encouraged to explore the following:

• 📘 iVendNext Wiki Documentation: Access the official user manual for detailed guidance on system features and workflows.
  Visit the Wiki Docs

• 🛠️ iVendNext Help Portal: Browse categorized knowledge articles covering Accounting, Buying, Selling, Stock, and more.
  Explore the Help Portal

These resources complement your training journey and serve as valuable references throughout the certification process.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.

Purchase Cycle: Purchase Order

The article below provides an introduction to Purchase Order in iVendNext.

Overview

A Purchase Order is a binding contract with your Supplier that you promise to buy a set of items under given conditions.

It is similar to a Sales Order but instead of sending it to an external party, you keep it for internal records.

Home > Buying > Purchasing > Purchase Order

1. Prerequisites 

Before creating and using a Purchase Order, it is advised that you create the following first:

• Supplier

• Item

2. How to create a Purchase Order 

A Purchase Order can be automatically created from a Material Request or Supplier Quotation.

Creating a Purchase Order in iVendNext involves several straightforward steps. Here's a summary:

1. Navigate to Purchase Order: Go to the Purchase Order list and click on "New".

2. Select Supplier: Choose the supplier from whom you are purchasing.

3. Set Required By Date: Specify the date by which the items are needed.

4. Add Items: In the items table, select the items by their code. You can adjust the “required by” date for each item.

5. Set Quantity and Price: Enter the quantity for each item. The price will be fetched automatically if it is set in the Item master.

6. Apply Taxes: Set the applicable taxes for the order.

7. Save and Submit: Save the Purchase Order and submit it to finalize the process.

2.1 Setting Warehouses 

Set Target Warehouse: Optionally, you can set the default target Warehouse where the purchased Items will be delivered. This will be fetched into the Item table rows.

2.2 Fetching Items from Open Material Requests 

Items can be fetched into the Purchase Order automatically from open Material Requests. For this to work, the following steps need to be done:

1. Select a Supplier in the Purchase Order.

2. Set default Supplier in the Item form under Item Defaults.

3. A Material Request needs to be present of type 'Purchase'.

4. Click on the Get Items from open Material Requests button below the Supplier name. Now a dialog will appear with Material Requests containing Items for which the default Supplier is the same as the one selected in the Purchase Order. On selecting the Material Requests and clicking on Get Items, the Items will be fetched from the Material Requests.

Note: The Get Items from Open Material Requests button is visible as long as the Items table is empty.

3. Features 

3.1 Address and Contact 

• Select Supplier Address: The Supplier's billing address.

• Select Shipping Address: The Supplier's shipping address from which they'll be sending the items.

• Address, Shipping Address, Contact, Contact Email will be fetched if saved in the Supplier master.

For India:

• Supplier and Company GSTIN: The GST Identification Number of your Supplier and your company.

• Place of Supply: For GST, Place of Supply is necessary. It consists of the state's name and number.

3.2 Currency and Price List 

You can set the currency in which the purchase order is to be stored. If you set a Pricing List, then the item prices will be fetched from that list. Ticking on Ignore Pricing Rule will ignore the Pricing Rules set in Accounts > Pricing Rule.

Read about Price Lists and Multi-Currency Transactions to know more.

3.3 Subcontracting or 'Supply Raw Materials' 

Setting 'Supply Raw Materials' option is useful for subcontracting where you provide the raw materials for manufacturing an item. To know more, visit the Subcontracting page.

3.4 The Items table 

• Scan Barcode: You can add Items in the Items table by scanning their barcodes if you have a barcode scanner. Read documentation for tracking items using barcode to know more.

• Quantity and Rate: When you select the Item code, it's name, description, and UOM will be fetched. The 'UOM Conversion Factor' is set to 1 by default, you can change it depending on the UOM received from the seller, more in the next section.
  'Price List Rate' will be fetched if a Standard Buying rate is set. 'Last Purchase Rate' shows the rate of the item from your last Purchase Order. Rate is fetched if set in the item master. You can attach an Item Tax Template to apply a specific tax rate to the item.

• Item weights will be fetched if set in the Item master else enter manually.

• Warehouse: The warehouse where the items will be delivered, will be auto-filled if 'Set Target Warehouse' was set in the Purchase Order. Via Blanket Order, a Blanket Order can be linked, to know more click here. A 'Project' can be linked to track progress. A 'BOM' or Bill of Materials can also be linked to track progress.

• 'Qty as per Stock UOM' will show the current stock as per the UOM set in the Item master. 'Received Qty' will be updated when the items are billed.

• Accounting Details: This section is autofilled for a Purchase Order. 'Expense Account' is the account against which the PO is billed and Cost Center is the CC against which the PO is charged.

A “Required By” date on each Item: If you are expecting part delivery, your Supplier will know how much quantity to deliver at which date. This will help you from preventing over-supply. It will also help you to track how well your Supplier is doing on timeliness.

Allow Zero Valuation Rate: Ticking on 'Allow Zero Valuation Rate' will allow submitting the Purchase Receipt even if the Valuation Rate of the Item is 0. This can be a sample item or due to a mutual understanding with your Supplier.

3.6 Raw Materials Supplied 

This section appears when 'Supply Raw Materials' supplied is set to 'Yes'. This section shows a table with the Items to be supplied to the Supplier for the subcontracting process.

• Set Reserve Warehouse: When Subcontracting, the raw materials can be reserved in a separate Warehouse. On selecting the Reserved Warehouse here, it'll be fetched into Item rows of the Raw Materials Supplied table.

Supplied Items Table 

• Required Quantity: The count of Items required to complete the subcontracting as specified in the BOM.

• Supplied Quantity: This will be updated when you create Stock Entries to transfer materials to Supplier Warehouse from the Reserve Warehouse using the Transfer button.

3.7 Purchase UOM and Stock UOM Conversion 

You can change your UOM as per your stock requirements in the Purchase Order.

For example, If you have bought your raw material in large quantities with UOM - boxes, and wish to stock them in UOM - Nos; you can do so while making your Purchase Order.

1. Store UOM as Nos in the Item master. Note that the UOM in the Item master is the stock UOM.

2. In the Purchase Order mention UOM as Box. (Since material arrives in Boxes)

3. In the Warehouse and Reference section, the UOM will be pulled in as Nos (from the Item form):

4. Mention the UOM conversion factor. For example, (1); If one box has 1 kilo.

5. Notice that the stock quantity will be updated accordingly.

3.8 Taxes and Charges 

If your Supplier is going to charge you additional taxes or charge like a shipping or insurance charge, you can add it here. It will help you to accurately track your costs. Also, if some of these charges add to the value of the product you will have to mention them in the Taxes table.

Visit the Purchase Taxes and Charges Template page to know more about taxes.

The total taxes and charges will be displayed below the table.

To add taxes automatically via a Tax Category, visit this page.

Make sure to mark all your taxes in the Taxes and Charges table correctly for an accurate valuation.

Shipping Rule 

A Shipping Rule helps set the cost of shipping an Item. The cost will usually increase with the distance of shipping. To know more, visit the Shipping Rule page.

For example, you buy Items worth X and sell them for 1.3X. So your Customer pays 1.3 times the tax you pay your Supplier. Since you have already paid tax to your Supplier for X, what you owe your government is only the tax on 0.3X.

This is very easy to track in iVendNext since each tax head is also an Account. Ideally you must create two Accounts for each type of VAT you pay and collect, “Purchase VAT-X” (asset) and “Sales VAT-X” (liability), or something to that effect.

3.9 Additional Discount 

Other than recording discounts per item, you can add a discount to the whole purchase order in this section. This discount could be based on the Grand Total i.e., post tax/charges or Net total i.e., pre tax/charges. The additional discount can be applied as a percentage or an amount.

Read Applying Discount for more details.

3.10 Payment Terms 

Sometimes payment is not done all at once. Depending on the agreement, half of the payment may be made before shipment and the other half after receiving the goods/services. You can add a Payment Terms template or add the terms manually in this section.

3.11 Terms and Conditions 

In Sales/Purchase transactions there might be certain Terms and Conditions based on which the Supplier provides goods or services to the Customer. You can apply the Terms and Conditions to transactions to transactions and they will appear when printing the document.

3.12 Print Settings 

Letterhead 

You can print your request for quotation / purchase order on your company's letterhead. Know more here.

'Group same items' will group the same items added multiple times in the items table. This can be seen when your print.

Print Headings 

Titles of your documents can be changed. Know more here.

The seller's Additional Discount, Payment Terms, Terms and Conditions can be recorded in your Purchase Order.

3.13 More Information 

This section shows the status of the Purchase Order, percentage of items received, and percentage of items billed. If this is an Inter Company Order, the Sales Order can be linked here.

3.14 After Submitting 

Once you “Submit” your Purchase Order, you can trigger actions these actions:

• You can Add, Update, Delete items in the Purchase Order by clicking on the Update Items button. However you cannot delete items which has already been received.

• Status: Once submitted, you can hold a Purchase Order or Close it.

• Create: From a submitted Purchase Order, you can create the following:

• Purchase Receipt - A receipt indicating you've received the items.

• Purchase Invoice - An invoice/bill for the purchase order.

• Payment Entry - A payment entry indicates that payment has been made against a purchase order.

• Journal Entry - A Journal Entry is recorded in the general ledger.

Additional Learning Resources

For deeper insights and ongoing support, participants are encouraged to explore the following:

• 📘 iVendNext Wiki Documentation: Access the official user manual for detailed guidance on system features and workflows.
  Visit the Wiki Docs

• 🛠️ iVendNext Help Portal: Browse categorized knowledge articles covering Accounting, Buying, Selling, Stock, and more.
  Explore the Help Portal

These resources complement your training journey and serve as valuable references throughout the certification process.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.

Purchase Cycle: Purchase Receipt

The article below provides an introduction to Purchase Receipt in iVendNext.

Overview 

Purchase Receipts are made when you accept Items from your Supplier usually against a Purchase Order. 

You can also accept Purchase Receipts directly without the need for a Purchase Order. To do this, set Purchase Order Required as “No” in Buying Settings. See: Buying Settings

To access the Purchase Receipt list, go to:  Home > Stock.

Then under the Stock Transactions Section click on the Purchase Receipt shortcut. That should take you to the Purchase Receipt List View Screen.

Click on the Add Purchase Receipt button. That should take you to the New Purchase Receipt Creation screen. The New Purchase Receipt Creation screen is split into the following tabs:

• Details

• Address and Contact

• Terms

• More Info

A screenshot of the Details Tab is pasted below:

A screenshot of the Address and Contact Tab is pasted below:

A screenshot of the Terms Tab is pasted below:

A screenshot of the More Info Tab is pasted below:

Fill in the required information including the mandatory fields and then click the Save button to create a Purchase Receipt.

Prerequisites 

Before creating and using a Purchase Receipt, it is advised that you create the following first: Purchase Order

Steps to create a Purchase Receipt 

A Purchase Receipt is usually created from a Purchase Order. To create a Purchase Receipt manually (not recommended), follow these steps:

Navigate to: Home > Stock. Under the Stock Transactions section click on the Purchase Receipt shortcut. This will open the Purchase Receipt List View screen.

Click on the Add Purchase Receipt button. This will take you to the New Purchase Receipt screen. Fill in the required information including the mandatory fields on the New Purchase Receipt screen.

The New Purchase Receipt Creation screen is split into the following tabs:

• Details

• Address and Contact

• Terms

• More Info

Select a prefix for the Purchase Receipt. iVendNext allows you to give prefixes to your Masters and transactions with each prefix forming its own series. For example, a series with prefix INV12#### will have numbers INV120001, INV120002, and so on.

Select the Supplier’s name from the drop down list. 

You can fetch the Item details from the Purchase Order by clicking on the 'Get Items From’ button displayed on the New Purchase Receipt Master screen header. 

You can set the Accepted Warehouse for all items in this Purchase Receipt. This is fetched if set in Purchase Order. 

Set the Rejected Warehouse in case some Items are defective. The Rejected Warehouse will store the defective items. 

Select the Item and enter the quantity in the Items table. The rate will be fetched and the amount will be calculated automatically.

Once you have filled in the required information including the mandatory fields on the new Purchase Receipt screen click the Save and Submit button, to save the data and exit the screen.

Statuses  

These are the statuses a Purchase Receipt can be in:

Draft 

A draft is saved but yet to be submitted to the system.

To Bill 

Yet to be billed using a Purchase Invoice.

Completed 

Submitted and received all the Items.

Return Issued 

All the Items have been returned.

Cancelled 

Cancelled the Purchase Receipt.

Closed

The purpose of the Close is to manage short-closing. For example, you ordered 20 qty, but closed at 15 qty. The remaining 5 is not to be received or billed.

New Purchase Receipt Screen

The New Purchase Receipt screen is split into the following sections. Each section contains information specific to the section it corresponds to. 

• Details Section

• Address and Contact Section

• Terms Section

• More Info Section

The Details Section 

This section of the New Purchase Receipt screen includes basic information about the Purchase Receipt. For example, Purchase Receipt Posting Date, Purchase Receipt Document Series, etc. The various fields in the Details section are explained below:

Series

Select a prefix for the Purchase Receipt. iVendNext allows you to give prefixes to your Masters and transactions with each prefix forming its own series. For example, a series with prefix INV12#### will have numbers INV120001, INV120002, and so on.

Supplier

Select the Supplier from the drop down list or choose to create a new Supplier by clicking on the Create a new Supplier option. A Supplier can either be a person or a business that supplies goods or services and serves a unique role in the supply chain. If a default supplier is set, this supplier will be selected for new purchase transactions.

Supplier Name

The value in this field is fetched automatically based on the Supplier selected in the previous field.

Supplier Delivery Note

You can also add a 'Supplier Delivery Note' to the Purchase Receipt if your Supplier has added some notes. 

Date

Select the Purchase Receipt Date from the calendar pop up screen. This field is mandatory. By default the application picks up the current system date. This field becomes editable only when the "Edit Posting Date and Time" checkbox is checked. This field is mandatory.

Posting Time

Specify the Posting Time. This field becomes editable only when the "Edit Posting Date and Time" checkbox is checked. This field is mandatory.

Edit Posting Date and Time

Check this box if you want to allow the user to be able to manually edit the Date and Posting Time fields.

Apply Putaway Rule

Check this box if you want to apply the putaway rule. Putaway is a rule-based system of moving items from a received shipment to the right places in warehouses based on their storage condition requirements. This helps easy access to items and organised inventory. 

Is Return 

Check this box if you're returning Items that were not accepted to your Warehouse

Cost Centre

Select a Cost Center from the drop down list or choose to create a new Cost Center by clicking on the Create a new Cost Center option. In iVendNext, cost centres are crucial for budgeting and financial management. They represent distinct areas or departments within a company where costs are incurred and tracked. By associating expenses with specific cost centres, iVendNext provides a granular view of spending patterns and helps in analysing budget performance.

Project

Select a Project. A Project is a planned piece of work that is designed to find information about something, to produce something new, or to improve something.

Currency

Select a Currency from the drop down list or choose to create a new Currency by clicking on the Create a new Currency option. The value in this field is automatically fetched from the Purchase Order.

Price List

Select a Price List from the drop down list or choose to create a new Price List by clicking on the Create a new Price List option. A Price List is a collection of Item Prices either Selling, Buying, or both. Price Lists can be used in scenarios where an Item can have multiple prices based on customer, currency, region, shipping cost, etc, which can be stored as different rate plans. The value in this field is automatically fetched from the Price List.

Ignore Pricing Rule

Check this box if you want to ignore the Pricing Rule. This implies that the Price List that you have specified in the Accounts under Pricing Rule will no longer hold good. Since the incoming item affects the value of your inventory, it is important to convert it into your base currency if you have ordered in another currency. You will need to update the Currency Conversion Rate if applicable.

Scan Barcode

This field displays the scanned barcode information. The value in this field is populated with the item barcode, when you scan the item using a barcode scanner. You can add EAN and UPC Barcodes for the Items. This will help you to quickly scan and add the items in the Items table by scanning their barcodes if you have a barcode scanner. Read documentation for tracking items using barcode to know more.

Accepted Warehouse

Select the Accepted Warehouse from the drop down list or choose to create a new Accepted Warehouse by clicking on the create a new Warehouse option. This field is optional. This is the Warehouse in which you'll accept and store the incoming Items. Usually, this is the 'Stores' Warehouse.

Rejected Warehouse

Select the Rejected Warehouse from the drop down list or choose to create a new Rejected Warehouse by clicking on the create a new Warehouse option. This field is optional. This is the Warehouse in which you'll keep the rejected Items which were either defective or not up to the quality mark.

Is Subcontracted

Check this box if you are subcontracting. In subcontracting, you employ an external party to carry out tasks for your organization, especially manufacturing. You can link a BOM here if the Item is being subcontracted. Linking the BOM here will affect the Stock ledger, i.e. the raw material stock will be deducted from the Supplier Warehouse. Note: The Item has to be serialized or batched for these features to work. If the Item is serialized a popup will appear where you can enter the Serial Numbers. See: Subcontracting

Item Code

Select the Item code from the drop down list or choose to create a new item by clicking on the create a new Item option.

Item Name

The value in this field will auto populate based on the Item Code selected.

Description

The value in this field will auto populate based on the Item Code selected.

Image

Displays the item image based on the Item Code selected.

Accepted Quantity

Set the Accepted Quantity. The UoM is fetched from the Item master. You will need to update the “UOM Conversion Factor” if your Purchase Order for an Item is in a different Unit of Measure (UOM) than what you stock (Stock UOM).

Rejected Quantity

Set the Rejected Quantity. The UoM is fetched from the Item master. You will need to update the “UOM Conversion Factor” if your Purchase Order for an Item is in a different Unit of Measure (UOM) than what you stock (Stock UOM).

UOM

The value in this field is automatically fetched from the Item Master. A UoM is a unit using which an Item is measured. 

Rate (USD)

The Rate is fetched if set in the Price List and the total Amount is calculated.

Amount

The value in this field is automatically fetched based on the Rate (USD). 

Is Free Item

Check this box if Item is offered as a free item in addition to the actual retail item. This is often seen in promotions where the item is discounted down to 0 and becomes free.

Item Tax Template

Select a Item Tax Template from the drop down list or choose to create a new Item Tax Template by clicking on the Create a new Tax Template option. Item Tax Template is useful for item wise taxation. If some of your Items have tax rates different from the standard tax rate assigned in the Taxes and Charges table, then you can create an Item Tax Template and assign it to an Item or Item Group. The rate assigned in the Item Tax Template will get preference over the standard tax rate assigned in the Taxes and Charges table.  See: Item Tax Template

Landed Cost Voucher Amount

The value in this field is automatically fetched based on the Item Tax Template. 

Rate Difference with Purchase Invoice

The value in this field is automatically fetched based on the Item Tax Template. 

Billed Amt

The value in this field is automatically fetched based on the Item Tax Template.

Allow Zero Valuation Rate

Check this box if you want the value of stock items to always be zero, irrespective of the cost incurred. Ticking on 'Allow Zero Valuation Rate' will allow submitting the Purchase Receipt even if the Valuation Rate of the Item is 0. This can be a sample item or due to a mutual understanding with your Supplier.

Serial and Batch Bundle

Select the Serial and Batch Bundle from the drop down list or choose to create a new Serial and Batch Bundle by clicking on the create a new Serial and Batch Bundle option.  You must create separate "Serial and Batch Bundles" for each stock transaction. The same "Serial and Batch Bundle" cannot be used across multiple stock transactions.See: Serial and Batch Bundle

Rejected Serial and Batch Bundle

Select the Rejected Serial and Batch Bundle from the drop down list or choose to create a new Rejected Serial and Batch Bundle by clicking on the create a new Serial and Batch Bundle option. You must create separate "Serial and Batch Bundles" for each stock transaction. The same "Serial and Batch Bundle" cannot be used across multiple stock transactions.See: Serial and Batch Bundle

Total Tax

The value in this field is automatically fetched based on the Item Tax Template. 

Serial Expiry Date

Specify the Serial Expiry date from the calendar pop up screen. 

Use Serial No / Batch Fields

Check this box to make visible the Serial No and Batch No fields.

Serial No

Use this field to specify the Serial No. This field is visible only when the ‘Use Serial No / Batch Fields’ checkbox is ticked. If your Item is serialized or batched, you will have to enter Serial Number and Batch in the Items table. You are allowed to enter multiple Serial Numbers in one row (each on a separate line) and you must enter the same number of Serial Numbers as the quantity.

Batch No

Use this field to specify the Batch Number. This field is visible only when the ‘Use Serial No / Batch Fields’ checkbox is ticked.If your Item is serialized or batched, you will have to enter Serial Number and Batch in the Items table. You are allowed to enter multiple Serial Numbers in one row (each on a separate line) and you must enter the same number of Serial Numbers as the quantity.

Rejected Serial No

Use this field to specify the Serial No of items rejected. This field is visible only when the ‘Use Serial No / Batch Fields’ checkbox is ticked. If your Item is serialized or batched, you will have to enter Serial Number and Batch in the Items table. You are allowed to enter multiple Serial Numbers in one row (each on a separate line) and you must enter the same number of Serial Numbers as the quantity.

Weight Per Unit

Specify the Weight Per Unit of the item. It is referred to as the physical quantity representing the weight per unit volume of a material. The value in this field is fetched automatically if set in the Item Master.

Weight UOM

Specify the Weight UOM of the item. Typical examples of Weight UOM are:  kilograms (kg), pounds (lb), or ounces (oz). This is common for food / consumable items like pulses, cereals, flour etc. The Weight UoM which you use internally can be different from the purchase UoM. The value in this field is fetched automatically if set in the Item Master.

Total Weight

Displays the Total Weight. The value in this field is fetched automatically based on the Weight Per Unit and Weight UOM fields.

Manufacturer

Select the Manufacturer from the drop down list or choose to create a new Manufacturer by clicking on the create a new Manufacturer option

Manufacturer Part Number

Specify the part number for the items obtained from the  manufacturer.

Expense Account

Select the Expense Account from the drop down list or choose to create a new Expense Account by clicking on the Create a new Account option.  It is the account in which the cost of the Item will be debited. The amount incurred as an expense is recorded under this account.

Provisional Expense Account

Select the Provisional Expense Account from the drop down list or choose to create a new Provisional Expense Account by clicking on the Create a new Account option. The amount incurred on sales made on a particular date is recorded under this account.

WIP Composite Asset Account

Select the Provisional Expense Account from the drop down list or choose to create a new Provisional Expense Account by clicking on the Create a new Account option. The charges incurred when creating Fixed Assets are stored in WIP accounts.

Total Quantity

The value in this field is automatically updated based on the information (Item Code and Item Name) entered in the Items Template.

Total (USD)

The value in this field is automatically updated based on the information (Item Code and Item Name) entered in the Items Template.

Cost Center 

Accounting Dimensions help to tag each transaction with different Dimensions without the need for creating new Cost Centers. Dimensional accounting means tagging each transaction with appropriate dimensions like Branch, Business Unit, etc. This allows you to maintain each segment separately, thereby limiting the overall maintenance on GL accounts and your Chart of Accounts remains pure. 

Cost Center and Project are treated as dimensions by default in iVendNext. On setting a field in Accounting Dimension, that field will be added in transactions reports where applicable. See: Accounting Dimensions

Project

Accounting Dimensions help to tag each transaction with different Dimensions without the need for creating new Cost Centers. Dimensional accounting means tagging each transaction with appropriate dimensions like Branch, Business Unit, etc. This allows you to maintain each segment separately, thereby limiting the overall maintenance on GL accounts and your Chart of Accounts remains pure. Cost Center and Project are treated as dimensions by default in iVendNext. On setting a field in Accounting Dimension, that field will be added in transactions reports where applicable. See: Accounting Dimensions

Tracking Quality Inspection 

If for certain Items, it is mandatory to record Quality Inspections (if you have set it in your Item master), you will need to update the “Quality Inspection" field. The system will only allow you to “Submit” the Purchase Receipt if you update the “Quality Inspection”.

After enabling Inspection Criteria in the Item form for Purchase and attaching a Quality Inspection Template there, Quality Inspections can be recorded in Purchase Receipts.

To know more, visit the Quality Inspection page.

Tax Category

Select the Tax Category from the drop down list or choose to create a new Tax Category by clicking on the create a new Tax Category option. A Tax Category allows applying one or more Tax Rules to transactions based on various criteria. A Tax category can be linked to one or more Tax Rules. It can be assigned to a Customer or a Supplier, so when that Customer or Supplier is selected, the Tax Category will be fetched automatically.

Shipping Rule

Select the Shipping Rule from the drop down list or choose to create a new Shipping Rule by clicking on the create a new Shipping Rule option. A Shipping Rule helps set the cost of shipping an Item. The cost will usually increase with the distance of shipping. To know more, visit the Shipping Rule page.

Incoterm

Select the Incoterm from the drop down list or choose to create a new Incoterm by clicking on the create a new Incoterm option. They are a set of internationally recognized rules which define the responsibilities of sellers and buyers. Know more about it here.

Purchase Taxes and Charges 

Select the Purchase Taxes and Charges template from the drop down list or choose to create a new Purchase Taxes and Charges template by clicking on the Create a New Taxes and Charges template option. Selecting a Purchase Taxes and Charges Template will automatically apply the taxes and charges to the PO transaction. The Taxes and Charges will be fetched from the Purchase Order. See: Purchase Taxes and Charges Template.

Taxes and Charges Added (USD)

The value in this field is  fetched automatically updated based on the information specified in the Purchase Taxes and Charges Template. See: Tax Category

Taxes and Charges Deducted (USD)

The value in this field is  fetched automatically updated based on the information specified in the Purchase Taxes and Charges Template. See: Tax Category

Total Taxes and Charges (USD)

The value in this field is  fetched automatically updated based on the information specified in the Purchase Taxes and Charges Template. See: Tax Category

Make sure to mark all your taxes in the Taxes and Charges table correctly for an accurate valuation.

Consumed Items

The Consumed Items table  under the Raw Materials Consumed section contains information pertaining to the Raw Materials consumed by the Supplier in order to receive the Finished Item.

Get Current Stock

Click the Get Current Stock button to fetch the current stock of raw materials consumed from the Supplier Warehouse. 

Apply Additional Discount On 

Select the Apply Additional Discount On value from the drop down list. You can either apply the discount on Grand Total or on Net Total. See: Applying Discount

Additional Discount Percentage

Specify the percentage of Discount offered. See: Applying Discount

Additional Discount Amount (USD)

The value in the field is fetched automatically based on the previous field. See: Applying Discount

Page Break

Check this box to create a page break just before this item when printing.

The Address and Contact Section 

This section of the New Purchase Receipt screen includes basic information about the Supplier. For example, Supplier Address, Contact Person, etc. The various fields in the Details section are explained below:

Supplier Address

The value in this field is fetched automatically when you select a Supplier under the Details section. See: Address

Contact Person

The value in this field is fetched automatically when you select a Supplier under the Details section. See: Address

Contact

The value in this field is fetched automatically when you select a Supplier under the Details section. See: Address

Contact Email

The value in this field is fetched automatically when you select a Supplier under the Details section. See: Address

Shipping Address Template

The value in this field is fetched automatically from the Address Master. See: Address

Shipping Address

The value in this field is fetched automatically from the Address Master. See: Address

Billing Address Template

The value in this field is fetched automatically from the Address Master. See: Address

Billing Address

The value in this field is fetched automatically from the Address Master. See: Address

The Terms Section 

This section of the New Purchase Receipt screen includes basic information about the Supplier. For example, Supplier Address, Contact Person, etc. The various fields in the Details section are explained below:

Terms

Select the Terms and Conditions from the drop down list or choose to create new Terms and Conditions by clicking on the Create a new Terms and Conditions option.

Terms and Conditions

Specify the details, if any pertaining to the Terms and Conditions. 

The More Info Section 

This section of the New Purchase Receipt screen includes additional information about the Purchase Receipt. The Settings section is further subdivided into the following sections:

• Status

• Printing Settings

• Transporter

• Additional information

Status 

The various fields in the Status section are explained below:

Draft  

A draft is saved but yet to be submitted to the system.

To Bill  

Yet to be billed using a Purchase Invoice.

Completed  

Submitted and received all the Items.

Return Issued  

All the Items have been returned.

Canceled  

Canceled the Purchase Receipt.

Closed

The purpose of the Close is to manage short-closing. For example, you ordered 20 qty, but closed at 15 qty. The remaining 5 is not to be received or billed.

This section also shows % Amount Billed, i.e. the percentage of amount for which Sales Invoices are created.

Printing Settings  

The various fields in the Printing section are explained below:

Letterhead 

You can print your Purchase Receipt on your company's letterhead. Know more here.

Group Same Items

Check this box to group the same items added multiple times in the items table. This can be seen when your print.

Print Headings 

Select the Print Heading from the drop down list or choose to create a new Print Heading by clicking on the create a new Print Heading option. Print Headings are the names/titles you can give your transactions. Purchase Receipt headings can also be changed when printing the document. You can do this by selecting a Print Heading. To create new Print Headings go to: Home > Settings > Printing > Print Heading. See: Print Headings.

Transporter 

The various fields in the Transporter section are explained below:

Transporter Name

Specify the Transporter’s Name. The Supplier who will transport the Item to your Customer. The transporter feature should be enabled in the Supplier master to select the Supplier here.

Vehicle Number

Specify the Transporter’s Vehicle Number. This can be used for tracking.

Vehicle Date

Select the Vehicle  Date from the calendar pop up screen. By default the application picks up the current system date. 

Submitting a Purchase Receipt 

A Stock Ledger Entry is created for each Item adding the Item in the Warehouse by the “Accepted Quantity” If you have rejections, a Stock Ledger Entry is made for each Rejection. The “Pending Quantity” is updated in the Purchase Order.

After submitting the Purchase Receipt, the following can be created:

• Purchase Return

• Stock Entry

• Purchase Invoice

• Retaining Sample Stock

Returning a Purchase Order 

Once you've received a Purchase Order using a Purchase Receipt, you can create a return entry in case the Item needs to be returned to the Supplier. To know more, visit the Purchase Return page.

Skipping Purchase Receipt 

If you don't want to create a Purchase Receipt after a Purchase Order and directly want to create a Purchase Invoice, enable the feature for it in Buying Settings.

Changing the value of Items post Purchase Receipt 

Sometimes, certain expenses that add to the total of your purchased items are known only after a while. A common example is, if you are importing the Items, you will come to know of Customs Duty, etc only when your “Clearing Agent” sends you a bill. If you want to attribute this cost to your purchased Items, you will have to use the Landed Cost Voucher. Why “Landed Cost”? Because it represents the charges that you paid when it landed in your possession.

Additional Learning Resources

For deeper insights and ongoing support, participants are encouraged to explore the following:

• 📘 iVendNext Wiki Documentation: Access the official user manual for detailed guidance on system features and workflows.
  Visit the Wiki Docs

• 🛠️ iVendNext Help Portal: Browse categorized knowledge articles covering Accounting, Buying, Selling, Stock, and more.
  Explore the Help Portal

These resources complement your training journey and serve as valuable references throughout the certification process.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.

Void Suspend and Recall

The article below provides an introduction to Void, Suspend, and Recall in iVendNext.

Overview

In retail, Void, Suspend, and Recall are important transaction management functions that allow flexibility in handling sales at the point of sale (POS). Here's a brief summary of each:

1. Void

A void transaction refers to canceling a sale before it is finalized. This is typically done when an error occurs during checkout, such as incorrect item selection, pricing mistakes, or customer changes. Voiding prevents the transaction from being recorded, ensuring that inventory levels and payment records remain accurate.

• Use Case: A cashier accidentally rings up the wrong product. Instead of processing a return later, they void the transaction immediately to correct the mistake.

2. Suspend

A suspended transaction allows the retailer to temporarily put a sale on hold without completing or canceling it. This is useful when a customer needs to step away (e.g., forgot their wallet or wants to grab another item) but intends to complete the purchase later. The transaction remains stored in the system and can be resumed when the customer returns.

• Use Case: A customer at checkout realizes they left their credit card in the car. The cashier suspends the sale so the customer can retrieve their card and return to complete the purchase.

3. Recall

A recall function lets retailers retrieve a previously suspended transaction and resume the checkout process. This ensures that any paused sales can be processed smoothly without requiring the cashier to start over.

• Use Case: The customer returns after retrieving their wallet, and the cashier recalls the suspended transaction, allowing them to complete the sale seamlessly.

Implementation 

iVendNext's POS system provides functionalities for Void, Suspend, and Recall transactions, allowing retailers to manage sales efficiently. Here's how each function is implemented in the application:

1. Void Transaction

Here's how the Void function is implemented in the application:

• In iVendNext, voiding a transaction typically involves canceling a Sales Invoice before submission or reversing it after completion.

• If a sale is voided before submission, it does not affect inventory or accounting records.

• If voided after submission, a Credit Note or Return Entry may be required to adjust stock and financial records.

2. Suspend Transaction

Here's how the Suspend function is implemented in the application:

• iVendNext allows users to save an incomplete transaction as a draft or hold it for later completion.

• This is useful when a customer needs to step away before finalizing the purchase.

• The transaction remains in the system and can be resumed when the customer returns.

3. Recall Transaction

Here's how the Recall function is implemented in the application:

• Suspended transactions can be retrieved and resumed from the POS interface.

• Users can search for the transaction using filters like customer name, invoice number, or date.

• Once recalled, the sale can be completed without needing to re-enter details.

Difference Between Void Item and Void Transaction

In iVendNext retail, Void Item and Void Transaction serve different purposes in sales management. Here's how they differ:

1. Void Item

• This function allows retailers to remove a specific item from a transaction before finalizing the sale.

• It is useful when a cashier accidentally adds an incorrect product or when a customer decides they no longer want a particular item.

• Impact: The rest of the sale remains intact, and only the voided item is removed from the bill.

Example: A customer initially selects three shirts but decides to purchase only two. The cashier voids one shirt while keeping the remaining items in the sale.

2. Void Transaction

• This function cancels the entire sale, removing all items and associated payment details before finalizing the transaction.

• It is used in cases of major errors, duplicate transactions, or customer cancellations.

• Impact: No items remain in the transaction, and inventory or financial records are adjusted accordingly.

Example: A cashier completes a sale but realizes the customer was mistakenly charged twice. The entire transaction is voided to prevent billing issues.

Steps To Void | Suspend| Recall

To conduct sales or perform sale-related activities, a cashier frequently interacts with the iVendNext POS application. Understanding daily processes is crucial to ensuring smooth transactions. At times, a cashier may need to void a sale or place it on hold using the suspend function. This document outlines the steps to void, suspend, and recall sales within iVendNext POS.

Voiding a Sale

The Void Item function allows the cashier to remove specific items from a sale before finalizing the transaction.

Steps to Void an Item:

1. Add item(s) to the transaction.

2. Select a customer.

3. Choose the item(s) to be voided.

4. Click the Void Item button.

5. Confirm by clicking Yes on the confirmation screen.

Important Considerations:

• By default, a Walk-In Customer is pre-selected (also referred to as a Cash Customer). To associate the sale with a specific customer, the cashier must add their details.

• Voided items are removed from the sale and do not affect inventory after voiding.

Void Transaction

A Void Transaction cancels the entire sale before finalization, ensuring no items or payments are recorded.

Steps to Void a Transaction:

1. Add item(s) to the transaction.

2. Select a customer.

3. Click the Void Transaction button.

4. Confirm by clicking Yes on the confirmation screen.

Important Considerations:

• The default Walk-In Customer selection applies unless a specific customer is added to the sale.

• A voided transaction cannot be recalled once canceled.

Suspending a Sale

The Suspend function allows a cashier to temporarily place a sale on hold, enabling the customer to return later and complete the transaction.

Steps to Suspend a Transaction:

1. Add item(s) to the transaction.

2. Select a customer.

3. Click the Suspend/Recall button.

4. Confirm by clicking Yes on the confirmation screen.

Important Considerations:

• A Walk-In Customer is pre-selected unless the cashier adds a specific customer.

• Suspended transactions remain in the system and can be recalled later.

Recalling a Suspended Sale

The Recall function retrieves a previously suspended transaction, allowing the cashier to complete the sale without re-entering details.

Steps to Recall a Suspended Transaction:

1. Click the Suspend/Recall button on the transaction screen.

2. Select the suspended transaction from the list.

3. Click the Recall button.

4. Modify the sale by adding or removing items, if needed.

5. Click Quick Cash to finalize the transaction.

Important Considerations:

• Using the Quick Cash button completes the transaction using cash as the payment method.

Additional Learning Resources

For deeper insights and ongoing support, participants are encouraged to explore the following:

• 📘 iVendNext Wiki Documentation: Access the official user manual for detailed guidance on system features and workflows.
  Visit the Wiki Docs

• 🛠️ iVendNext Help Portal: Browse categorized knowledge articles covering Accounting, Buying, Selling, Stock, and more.
  Explore the Help Portal

These resources complement your training journey and serve as valuable references throughout the certification process.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.

X Tape Report

The article below provides an introduction to X Tape Report in iVendNext.

Overview

The X Tape Report is a crucial tool in retail operations, providing a real-time snapshot of sales and cash register activities. Unlike the Z Tape Report, which is generated at the end of the trading day, the X Tape Report can be run at any time during a shift to check the current status of transactions, cash flow, and payment methods.

Features of the X Tape Report

Some of the prominent features of a X Tape Report are:

Sales Summary: 

Displays total sales recorded up to the moment the report is generated.

Refunds and Voids: 

Lists any refunds or voided transactions processed during the shift.

Cash Drawer Status: 

Shows the opening cash balance, cash-ins, cash-outs, and expected cash in the drawer.

Payment Breakdown: 

Categorizes payments by type (cash, credit card, gift card, etc.).

Transaction Count: 

Provides the number of completed sales and refunds.

Information Displayed in the X Tape Report

The information displayed in a X Tape Report:

Report Generation Date

The date when the report was generated.

Report Generation Time

The time when the report was generated.

POS Start Date

The date when the POS session began.

POS Start Time

The time when the POS session started.

User/Cashier Name

The name of the user or cashier handling transactions.

POS Name

The identifier or name of the POS system generating the report.

Opening Amount

The initial amount of cash available at the start of the POS session.

Expected Drawer

The calculated cash expected in the drawer based on transactions and adjustments (Opening Amount + Cash In + Cash Out - Expenses + Sales - Refunds).

Cash In

The total cash received or added to the drawer during the session.

Cash Out 

The total cash withdrawn from the drawer.

Expenses

The recorded expenses deducted from the POS system.

Sales

The total sales transactions processed within the session.

Refunds

The total amount refunded to customers during the session.

Gift Card Sales

The value of gift cards sold during the session.

Transaction Total 

The cumulative monetary value of all transactions.

Transaction Count

The total number of transactions processed.

Use Cases

Some of the Use Cases are:

Shift Monitoring: 

Store managers use the X Tape Report to check sales progress and cash drawer accuracy before closing the register.

Cash Reconciliation: 

Helps cashiers verify cash-ins and cash-outs to prevent discrepancies.

Fraud Prevention: 

Allows early detection of unusual refund or void activity.

Operational Adjustments: 

Enables retailers to assess mid-day sales trends and adjust promotions or staffing accordingly.

Conclusion

The X Tape Report is an essential mid-shift auditing tool that helps retailers maintain financial accuracy and operational efficiency. By generating this report periodically, businesses can ensure smooth cash handling and transaction tracking throughout the day.

Additional Learning Resources

For deeper insights and ongoing support, participants are encouraged to explore the following:

• 📘 iVendNext Wiki Documentation: Access the official user manual for detailed guidance on system features and workflows.
  Visit the Wiki Docs

• 🛠️ iVendNext Help Portal: Browse categorized knowledge articles covering Accounting, Buying, Selling, Stock, and more.
  Explore the Help Portal

These resources complement your training journey and serve as valuable references throughout the certification process.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.

Z Tape Report

The article below provides an introduction to Z Tape Report

Overview

The Z Tape Report is a critical end-of-day report in iVendNext that provides a detailed breakdown of all transactions recorded during a shift. Unlike the X Tape Report, which provides a mid-shift snapshot, the Z Tape Report is generated when the register is closed, ensuring a final record of sales, refunds, and payment reconciliations. It helps retailers reconcile cash drawers, verify sales, and track payment activities performed during the shift.

Features of the Z Tape Report

Some of the prominent features of a Z Tape Report are:

Sales Summary: 

Displays total revenue generated during the shift, including itemized sales and discounts.

Refunds and Voids:

Lists all refunds and voided transactions processed throughout the day.

Cash Drawer Reconciliation: 

Shows the opening cash balance, cash-ins, cash-outs, and expected cash at closing.

Payment Breakdown: 

Categorizes payments by type (cash, credit card, gift card, etc.).

Transaction Count: 

Provides the total number of completed sales, refunds, and voids.

Cash Variance Calculation: 

Compares expected cash in the drawer with the actual counted amount to detect discrepancies.

Information Displayed in the Z Tape Report

The information displayed in a Z Tape Report 

Start Date

The date and time when the POS register session begins.

End Date

The closing date and time of the register session.

User/Cashier Email Address

The unique identifier of the cashier responsible for transactions.

POS Name

Identifies the specific point-of-sale terminal used for transactions.

Opening Amount

The initial cash balance present in the register at the start of the shift.

Expected Drawer

The calculated expected cash in the drawer, considering all transactions (Opening Amount + Cash In + Cash Out - Expenses + Sales - Refunds).

Cash In

The additional cash added to the register during the shift, such as deposits or manual cash inputs.

Cash Out

The cash withdrawn or removed from the register, including payouts or operational expenses.

Expenses

Any deductions made for expenses like petty cash purchases or store-related costs.

Sales

The total revenue generated from all completed transactions within the shift.

Refunds

The sum of all refunds processed, adjusting the total sales balance accordingly.

Transaction Total

The final sum of all monetary transactions recorded, including sales, refunds, and expenses.

Transaction Count

The number of individual transactions processed during the shift, providing a sales volume summary.

Use Cases

Some of the Use Cases are:

End-of-Day Reconciliation: 

Store managers use the Z Tape Report to verify total sales and ensure cash drawer accuracy before closing.

Accounting and Compliance: 

Helps maintain financial records for audits and tax reporting.

Fraud Detection: 

Identifies unusual refund or void activity that may indicate fraudulent transactions.

Operational Insights: 

Provides a complete overview of daily sales trends, helping retailers adjust pricing or promotions accordingly.

Conclusion

The Z Tape Report is a daily financial summary that helps stores keep track of their cash flow and sales. Generated at the end of each shift, it ensures that all transactions are accounted for and that the cash in the register matches the sales made throughout the day. This report is key to preventing errors, spotting discrepancies, and maintaining financial accuracy. Store managers and cashiers rely on it to verify sales totals, identify any issues, and keep records organized—making day-to-day operations smoother and more reliable.

Additional Learning Resources

For deeper insights and ongoing support, participants are encouraged to explore the following:

• 📘 iVendNext Wiki Documentation: Access the official user manual for detailed guidance on system features and workflows.
  Visit the Wiki Docs

• 🛠️ iVendNext Help Portal: Browse categorized knowledge articles covering Accounting, Buying, Selling, Stock, and more.
  Explore the Help Portal

These resources complement your training journey and serve as valuable references throughout the certification process.

Once you've completed the article, continue to the next topic in the training module to build on your understanding.