23 June 2008
Regarding above I would like to know:
In a Retail industry:
1)When the barcode reader reads the data from the product and bill print out taken – does the data get automatically updated in Accounting Package?
2)Most customers pay by credit card. At the end of the day does the accountant takes the printout of the bank statement and manually matches the amount received with each bill raised by him?
3)How do entries appear in bank statement when the payment is received by credit card? Do they appear net of bank charges or the total sale amount collected is shown?
4)How will the accountant come to know from the bank statement that the amount is collected using customer’s DEBIT card or CREDIT card?
CAclubindia
