Page 215 - Accounting Information Systems

186 PART II Transaction Cycles and Business Processes

FI G U R E
4-20 POINT-OF-SALE SYSTEM

A
Credit
Cash Approval Cash
Inventory
Credit Card
Credit Card T
Voucher
a Reconcile Cash
p
with Register Tape
e
and Prepare
Register Update Deposit Slip
Inventory
and Record
Sale
Receipt Reconciliation Employee
Form
Credit Card Cash Sales
Voucher Journal
Reconciliation
Credit Card Form
Voucher T
a Deposit
p Slip T
e a
Record Cash p
Receipts e
A
Batch Cash
Update Receipts Deposit
Journal Slip
Reconciliation Enter
Form Cash Deposit
Receipts
Deposit Slip
General Slip T
Ledger a
p
e
Bank
Journal
Vouchers
File

When all the UPCs are scanned, the system automatically calculates taxes, discounts, and the total for
the transaction. In the case of credit card transactions, the sales clerk obtains transaction approval from
the credit card issuer via an online connection. When the approval is returned, the clerk prepares a credit
card voucher for the amount of the sale, which the customer signs. The clerk gives the customer one copy
of the voucher and secures a second copy in the cash drawer of the register. For cash sales, the customer
renders cash for the full amount of the sale, which the clerk secures in the cash drawer.
The clerk enters the transaction into the POS system via the register’s keypad, and a record of the sale
is added to the sales journal in real time. The record contains the following key data: date, time, terminal
number, total amount of sale, cash or credit card sale, cost of items sold, sales tax, and discounts taken.
The sale is also recorded on a two-part paper tape. One copy is given to the customer as a receipt; the
other is secured internally within the register and the clerk cannot access it. This internal tape is later used
to close out the register when the clerk’s shift is over.
At the end of the clerk’s shift, a supervisor unlocks the register and retrieves the internal tape. The cash
drawer is removed and replaced with a new cash drawer containing a known amount of start-up cash