Cash acceptance limit introduced in POS for Gift Voucher Bills too
Some time back, POS bills paid in cash have had a cash acceptance limit introduced as a step towards curbing money laundering. However, similar restrictions were not put on other bills like Gift Voucher Bills and Deposit/Refund Bills etc.
Government had introduced a restriction on accepting cash of INR 2 Lacs or more from the customers as follows:
- in aggregate from a person in a day, or
- in respect of a single transaction, or
- in respect of transactions relating to one event or occasion from a person
Now Ginesys has introduced this feature in the system for Gift Voucher Bills also - which shall restrict the cashier from receiving cash "of and above" as specified in the new system policy setting (Restrict cash transactions of and above <specify value>).
In such cases, the cashier should ask the customer to pay balance by other mode of payments like Credit Card, Digital Payments, Vouchers, etc.
- If cash restriction limit is set to Blank/Null, then no cash receive limit validation will be applicable.
- Applicability of the restriction across all bills in Ginesys POS
Note: The restriction is applicable across POS Invoices, GV Bills and Deposit bills.
Suppose, the value given in Restrict cash transactions of and above policy is INR 2,000,000 and a customer raises -
- POS Invoice for INR 100,000 and
- GV Bill for INR 50,000 and
- Deposit Bill for INR 60,000.
In that case, he can only pay cash up to INR 1,99,999.99 and pay rest by other mode of payments like Credit Card, Digital Payments, Vouchers, etc.