Daily Report

Reports-> Financial -> Daily Report

The Daily Report is the accounting report for a single store or group of multiple stores.

It should be used daily by store clerks to reconcile the store's monies collected to the bank deposit by insuring payment & refund transactions were properly entered. The cash & check tender should equal the bank deposit (less or plus any paid out/in removed from the cash drawer) and the credit card/debit should equal the processor's settlement reports.

The Daily Report calculates its totals from customer sales tickets for transactions taking place within the date range entered.

This report helps the accountant to make entries into a accounting program's General Ledger for the store's balance & income statement needs.

All user security levels can generate this report.

Filters

Store ... May be ran for selected stores (for multi-store accounts)

Date Range ... The report may be ran for a single day's business or for a range of dates, for example, an entire month.

Run Detail button ... Executes the filter condition and displays the resulting report in detail, i.e. showing all tickets that comprise the totals.

Run Summary button ... Executes the filter condition and displays the resulting report with no detail, just totals.

When created, the interactive Daily Report contains six (6) sections:

Receipts

List totals by tender type. Clicking the + next to the tender type opens the grid where the sales ticket numbers appear that comprise the total. Additional payment info such as check number or approval codes can appear to help reconcile. The ticket number is a link that will display the receipt when clicked.

Revenue

Totals Revenue by inventory category is calculated based upon the accounting method chosen in System Settings. Clicking the + next to the category will expand the grid and show the tickets and transaction types that comprise the total.

Partial Payments/Balances

This section is also controlled by the System Setting for Realize Revenue.

'At Ticket Paid (Balance zero)' revenue accounting makes this heading Partial Payments and shows new tender payments NOT paying off a sale's balance, as Payments In. When the balance is eventually paid of a sale, any monies collected will be released and appear as Payment Released.

The Sale Item balance must be zero before any revenue, taxes or costs are accumulated. This method totals Partial Payments on tickets as 'Payments In'. Once the item is paid in full, all previous Payment Ins (deposits) are released as Payments Released.

'At Sale Time' revenue accounting changes this section to Balances with entries for Balance changes. Ticket balances increase as sales & adjustments mark-ups are made to new and existing tickets. Balances decrease** as the balances are reduced via payments or adjustment markdowns

This section show the Partial Payments/Balance changes for the report's time period. It is not the cumulative totals. To see the detail for each customer and store total please run the Customer Balance report.

Taxes

Taxes are totaled by Tax Rate(s) set in Store Settings for the revenue realized in the report's Revenue Section. When expanded, date, ticket number, category and department are seen within the section for the taxes collected.

Cost of Sales

Cost of Sales are totaled by category for the revenue being realized in the report's Revenue Section. In expanded view of totals each ticket is listed where taxes were collected for the period of the report. This is helpful for auditing.

Tickets

This section is a list of tickets that comprise any total on the daily report being generated. For audit purposes.

Store ... The default is All Stores. In multi-store situations the transactions & totals may be limited to a specific store

Transaction Date range ... The date range is sales totals, taxes and cost of sales totals & tender as they exist for the entered date range