POS Reconciliation and Commission Tracking

A customer paid 10,000 TL with a card. The next day you check your account: 9,780 TL has been deposited. Or maybe nothing at all.

Both are normal. But if your records don't reflect this, your cash and bank balances will constantly be out of sync.

Three reasons for the difference

Commission. The bank deducts a percentage of the transaction amount. This rate varies based on the card type, number of installments, and your agreement. This deduction is your expense.

Blockage period. The funds are not transferred immediately; they wait for the number of days specified in your agreement. Meaning the sale happens today, but collection happens a few days later.

Installments. When a customer pays in installments, the amount is also disbursed to you in installments (unless you have an agreement to convert it to a lump sum). A single sale means multiple collections spread across months.

When combined, these three create the following picture: a cash flow generated by today's sales that is spread out over coming months and reduced by commissions.

The correct recording process

The most common mistake is recording the net amount credited to the account as the sale. This both understates your turnover and hides your commission expense — meaning your tax base ends up incorrect.

The correct flow has three steps:

1. The sale is recorded over the gross amount, and the invoice is issued.

2. The collection is processed into the POS/credit card account. This account represents "our money waiting at the bank."

3. Once the funds are transferred to the bank account, a transfer is made from the POS account to the bank account, and the commission difference is recorded as an expense.

Once this system is set up, the balance in the POS account shows the amount of money that hasn't reached you yet. We explained this account structure in our article on bank and cash management.

VAT on commissions

A separate receipt or invoice is issued for bank commissions, and this document needs to be recorded.

Since Banking and Insurance Transactions Tax (BSMV) may apply instead of VAT on banking and insurance transactions, the tax structure on the commission document might differ from a regular service invoice. Categorize these items correctly with your financial advisor.

The total commission accumulated throughout the year becomes a much larger expense item than expected for most retail businesses. When left unrecorded, it directly translates to extra taxes paid.

Impact on cash flow

Installment sales increase your turnover while delaying your cash. This is the most common reason for having a busy month yet experiencing cash flow crunches in the same period.

That's why it's important to view your POS receivables by maturity: how much is coming this week, how much next month?

The article on upcoming collections and payments report explains how to set up this view.

Frequently asked questions

How often should I reconcile?

Weekly if your transaction volume is high, monthly if it's low. Going back months later is much more difficult.

I work with multiple banks, how do I track them?

Define a separate account for each POS. If you pool them into a single "POS" account, you won't be able to figure out which bank hasn't paid.

How are cancellations and refunds processed?

The refunded amount is deducted from the POS account. On the documentation side, a return invoice or expense receipt is required.

Is it different for Virtual POS?

The logic is the same. In e-commerce, payment institution deductions also come into play; check out the article on e-commerce accounting mistakes.

POS reconciliation is the process that eliminates the "where is the money" question at the end of the month. Once set up, it takes just a few minutes a week.

You can open a free account on Qolay.App and regularly track your POS collections and commissions.