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Paid Outs are miscellaneous expenses paid out of the cash register. You can define various types of paid outs and associate them with specific GL accounts. These will populate the drop-down menu in the Daily Sales Report, Paid Outs tab. Though optional, in order to account for all expenses, paid outs should be defined.
Paid Outs are defined on the Setup menu > DSR submenu > Paid Outs screen.
Description of fields:
Code Enter a code up to 5 characters long to identify the paid out definition.
Entity-Specific POS Code Compeat will use this entity-specific POS code to bring the paid out data into Compeat when polling paid outs.
Description Enter a description up to 15 characters long that specifies the reason for the paid out.
Company-Wide GL Account A general ledger account must be assigned to each paid out code. Although not restricted, typically each type of paid out uses a unique general ledger account code. If no restaurant-specific account number is present, the company-wide account number will be used.
Restaurant-Specific GL Account Different account codes can be set up for each paid out code in different restaurants. Use the "Restaurant-Specific GL Account" field to override the company-wide account number. If no restaurant-specific account number is present, the company-wide account will be used.
Note: If your business will have situations where inventory items are paid for at the time of delivery in cash, we suggest that you create a paid out code to allow the money to be accounted for in the DSR. Because funds received through the DSR do not allow you to enter an inventory affect, we recommend that the GL account code associated with this paid out be set to an inventory clearing account. You can then use zero check type of Manual Checks to account for the new inventory.