Training #card_reader_accounting_registration:
The first point:
A very important point to mention, for accountants who are not familiar with card readers, is that the card reader does not transfer the money to the bank account at the time we swipe the card, and it is deposited within 24 hours at the latest.
Second point:
When we draw a card, after a maximum of 24 hours, all the amounts are deposited into the bank, which means that we do not see one transaction for each card in our bank printout.
Third point:
The settlement of the card reader by the company that gave us the card reader does not have a specific time, and the procedure is such that all the cards drawn until the moment they want to be settled are counted, and it is not like that to collect the transactions of a day and deposit them in one transaction. Most of the time, transactions of two dates are added together and deposited into the bank account.
For example, the transaction at 11:00 PM on Saturday is combined with the transaction at 8:00 AM on Sunday and deposited somewhere.
The fourth point;
When the card is withdrawn, we should not enter the following registration because we will get into trouble and there will be a bank discrepancy:
bad bank
sell enough
This registration is wrong
Now, in order not to have a bank discrepancy, we will create a card reader account in our accounting coding:
Tree of accounts
Current assets/cash balance and bank/card reader/card reader account number
Now, every card that is drawn is recorded as follows:
Bad bank card reader
sell enough
And when the card reader is settled, we make the following registration
bad bank
The card reader has enough account numbers
For card reader settlement
Example:
Transactions on July 27
1- Purchase of 2000 Tomans at 14:00
2- Buy 8000 tomans at 6 pm
3- Purchase 4000 Tomans at 11pm
Accounting records: July 27
Bad 2000 card reader
Bad 8000 card reader
Bad 4000 card reader
Selling 14,000
Description: For the sales made by the card reader
July 28 transactions:
1- Purchase 10,000 tomans at 2 in the morning
2- Purchase 12,000 tomans at 3 in the morning
3- Buy 4000 tomans at 6 am
Accounting records on July 28
Card reader 10,000 bad
Card reader 12,000 bad
Bad 4000 card reader
Selling 26,000
Description: About the sales made by the card reader.
Now, if we want to get a balance from the card reader, it will be 40,000 tomans from July 27th and 27th.
On July 28 at 5:30 p.m., settlement of transactions from July 27 to 5:30 a.m. at one time by Shoprak company in the amount of 36,000 tomans
Bad bank 36000 tomans
36000 card reader
Description: for payment of card reader until 5:30 by Shoprak company
tip:
Shaperk company has settled the transaction till 5:30 and the last transaction which was at 6 o’clock has not been settled and this amount will be added with subsequent transactions and will be settled in one transaction.
Now if we want to take the balance of the card reader as below:
40,000 bad sales
36,000 settlement is enough
Bad balance of 4,000
So, we owe 4,000 tomans related to the transaction of July 28 at 6 am from Shoprak.
Financial Tax Group of Iran Consultants Authority
https://t.me/joinchat/AcpK2knYpIN_CP3_3lJXcw
This post is written by Arambnamkhda