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General Ledger Entry
Retail Advantage
POS Software makes it easy to enter entries that are not
automatically created by the accounts payable, payroll or
point of sale modules. You can also setup
recurring entries as well in Retail ADVANTAGE
POS Software!
General
Ledger Accounts can be up to 10 characters long and you can setup up to 9999
departments. Department Income statements can also be generated using the
Advantage POS Software reporting functions.
You can journalize your transactions using account number or names, you do
not need to be an experienced accountant to use the financial modules in the
Retail ADVANTAGE Point of
Sale Software.
The chart of accounts is divided into the five main account
categories. The categories are Assets, Liabilities, Equity, Income and
Expense accounts in Retail ADVANTAGE POS Software.
Asset Accounts
- things of value owned by the business.
Liability Accounts - amounts owed to
outsiders.
Owner's Equity Accounts - amounts owed by the
business to its owners
(profit). If the business loses money the owners may owe
additional money to the business.
Revenue Accounts - Sources of income.
Expense Accounts - Payments necessary to
run the business
 BACK to
Index of Point of Sale Software Features
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