POS is an acronym for Point of Sale. Point of Sale could mean a retail shop, a check-out counter in a shop or any other location, where a sales transaction takes place. The various POS equipment used in retail outlets are Cash registers, card readers, and barcode scanners.
POS acts as a computerized Cash Register that adds the sales total, computes the State sales tax or VAT, calculates the change from the money tendered and automatically adjusts the store’s inventory to debit the amount of inventory sold.
To record a POS invoice
1. Go to Gateway of Tally > Accounting Vouchers > F8: Sales
2. Select POS Invoice.
To create a POS invoice voucher type
1. Go to Gateway of Tally > Accounts Info. > Voucher Types > Create.
2. Enter the Name as POS Invoice.
3. Select Sales for the option Select type of voucher.
4. Set Use for POS invoicing? to Yes.
5. Enter the relevant details in the Voucher Type Creation screen.
6. Press Ctrl+A to accept.
3. Set the Party’s A/c Name to Not Applicable.
4. Select the common sales ledger in which the option Is VAT Applicable? is set to Applicable, and Set/Alter VAT Details? is set to No, without any configuration.
5. Select the required stock item whose VAT rate is specified either at the stock group or stock item level. Enter Quantity and Rate for the stock item.
6. Select the common VAT ledger.
Ledger must be grouped under Duties & Taxes in which the options:
● Type of duty/tax is set to VAT.
● Percentage of Calculation (eg 5)? is set to 0.
The POS invoice appears as shown below:
7. Press Enter to save. The Voucher Printing screen appears.
8. Press Enter to print.
The print preview of POS invoice comprising of Company's VAT No. appears as shown below:
'POS Invoice (Kenya VAT)' has been shared with
