We are looking for a best approach when recording over the counter sales.
Cash or COD customers make a purchase over the counter, they will pay by the card via EFTPOS. At the moment Sales team Post the Sales Orders.
At the end of the day Bank will receive a lumpsum of money for all the transaction per day.
Accounts receivable will then go to Cash receipt journal to create cash receipts.
Since they want to see one single ledger in Bank Account, they will add in the journal the bank account and balancing account as Cash or COD.
Accounts receivable says its very time consuming task as there can be 200 invoices per day to apply. BC applying invoices to payment seems bit hard.
I wanted to know how this is tackled in similar business.