Accounting entries for cash and card sales – Procountor

This article contains instructions for entering cash and card sales into Procountor. Cash and card sales may be related to, for example, cash sales, invoices paid in cash, debit card sales or credit card sales.

Cash sales

Cash sales can be entered into Procountor using either a journal receipt or sales invoice. Each individual sale doesn’t need to be entered on a separate sales invoice or journal, but instead, settlements from the till or cash book can be compiled into entries at appropriate intervals (daily, weekly, monthly).

However, a journal or sales invoice including the cash sales should be created at least once per month, so that VAT will be allocated to the correct month. VAT summary and periodic VAT return can be created and the till can be balanced only after the journal or invoice has been created and approved.

Entering sales using a journal

When entering cash sales using a journal:

Select Sales as the VAT type and an appropriate sales VAT status for the journal.
Enter the consolidated sales information on the journal by VAT rate. If necessary, you can create a detailed specification of the sales in an Excel spreadsheet, for example, and attach it to the journal.
When the journal is ready to be approved into the official accounting, click on the Approve button, which will set the journal’s status to Approved. The postings on an approved journal can be edited, if necessary, as long as the tracking period it’s dated to is open.

Entering sales using a sales invoice

When entering cash sales using a sales invoice:

For creating the invoices, it’s recommended to add a customer titled, for example, “Cash sales” in the customer register and change the customer’s default account from 1700 (Accounts receivable) to 1900 (Cash in hand).
- When entering cash sales and choosing this customer from the register, sales invoices will automatically be posted 1900 (Cash in hand) / 3000 (Sales).
- Using a customer set up in the register also makes the information easier to search and clarifies reporting.
Enter the consolidated sales information on the sales invoice by VAT rate.
- If cash sales need to be tracked at product level or posted to different accounts, it’s recommended to add sales products in the product register, set the appropriate posting defaults for them, and use these products.
- If certain products are frequently used in cash sales, these products can be set as Cash sales customer’s default products.

It’s recommended to create the invoice so that row prices include VAT, either by ticking the Prices include VAT selection (Unit prices inlc. VAT) on the invoice, or by defining in VAT defaults that sales products include VAT by default.
Once the invoice has been created and approved, it should be marked it as paid on the sales invoice’s Special situations view, which will set the invoice status to Marked paid.
If the invoice is created for a register customer that has 1900 (Cash in hand) set as the default account in accounts receivable, the invoice’s postings don’t need to be manually edited.
- If this is not the case, the postings need to be edited on the invoice’s Accounting view so that the posting from 1700 (Accounts receivable) is transferred to 1900 (Cash in hand).
- Also other possible changes to the postings should be made on the Accounting view and dimensions can be set (if necessary) on the Dimensions view that opens from the Dimensions button.

Customer pays sales invoice is cash

When the customer pays the invoice in cash:

Create a sales invoice for the customer, with the debit entry posted to account 1900 (Cash in hand) instead of 1700 (Accounts receivable).
Once the invoice has been created, approved and paid, it should be marked as paid on the sales invoice’s Special situations view, which will set the invoice status to Marked paid.
If a certain customer always pays in cash, the customer’s default sales account can be changed from 1700 (Accounts receivable) to 1900 (Cash in hand), so that invoices will automatically be posted 1900 / 3000.

Debit card sales

Debit card sales are entered using a sales invoice in the same way as described in section “Cash sales”.

It’s recommended to set up a separate account for debit card sales to the chart of accounts, e.g. 1701 (Debit card receivables) and create a customer titled, for example, “Debit card sales” in the customer register.
- Change the customer’s default sales account in the customer register from 1700 (Accounts receivable) to 1701 (Debit card receivables), so that invoices will automatically be posted 1701 / 3000. Using a separate account facilitates the tracking of debit card sales and payments.
- Using a customer set up in the register also makes the information easier to search and clarifies reporting.
Since banks normally settle debit card payments on the day after the purchase and it’s presumable that all transactions are settled by the bank on the next day, invoices that have been created can be immediately marked as paid on the sales invoice’s Special situations view, which will set the invoice status to Marked paid.
- If an invoice is marked as paid when closing or balancing the accounts and no payments have yet been received to the bank account, this must be taken into account.
- If payments need to be tracked in detail, they should be entered on the invoice through Special situations view as they are received.
- If an invoice is paid in parts and payment transactions are added as they’re received, the invoice status will be Partly paid until the open amount is zero.
When a debit card payment appears on the bank statement, its postings need to be changed on the bank statement’s accounting view so that the default posting on 1990 (Payments in transit and balancing difference) is transferred to 1701 (Debit card receivables).

Credit card sales