Accounting: General Settings
If you want to book the cost of goods sold against inventory values you will want to turn this on.
Sales can also be separated by revenue center. Revenue centers are zones set up in your Point of Sale. This is in addition to items that are set up. For example: Food sold at the bar or Food sold in dining room.
The revenue centers could be Bar, Dining room or even patio.
Deposit Checks with Cash
If your business accepts personal checks and if your bank combines checks and cash deposits into one amount on your bank statement, you will want this set to ON. If you have $100 in cash and a $100 check there will only be one entry for $200.
If you do not accept personal checks or your bank lists them separately on your bank statement, you will want this OFF
If your Point of Sale supports cash drawer operations but you do not want to include any reported over or short in your accounting postings set this to ON.
The cash over and short account is used when the primary currency is cash for retail situations. Petty Cash is also an example. Use of an Over/Short account allows for fraud tracking, and identifying employee training needs.
Auto-Payout of Tips
If you pay credit card tips out as cash each night, turn this ON to automatically create a cash payout entry to reflect the debit. If you are recording tip payouts directly in your Point of Sale do NOT enable this option.
After making all your appropriate selections, select “APPLY”