Power UsersTraining Sessions

Day 1 - Session 2:

Accounting & Reporting

QUESTION:

Why can’t I get the accounting summary report to say the same thing as the sales summary report and the sales tax report

as the daily audit, etc., etc., etc…

• They just can’t…

• They just won’t…

• I said so…

• Its wwaaayyy too complicated…

• Who cares about numbers anyway…

• Figures lie and liars figure…

• Take the KISS approach…

Because…

Want to know the real reason?

Are you sure?

• No one can truly agree on how they want to see the numbers - what date actually constitutes the “sale”

• Many of these reports are not designed to agree with each other

• Each report is designed to give different views into sales and income

• Each report is focused on different dates and in many cases several dates

• Sales and Deposits SELDOM BALANCE for a specific time period and should not be expected!

Because…

Original Reports

Accounting Summary Report

Sales Tax Report

Detailed Sales Report

Credit Card Deposits

Sales Analysis

Sales and Cost of Goods

Daily Audit

What report do you use?

•Accounting Summary - AccountingSummaryTemplate

•Sales Tax - SalesTaxTemplate

•Detailed Sales - DetailedSalesTemplate

•Credit Card Deposits - CreditCardDepositsTemplate

•Sales Analysis - SalesAnalysisTemplate

•Sales and Cost of Goods – SalesAndCOGTemplate

•Daily Audit - DailyAuditTemplate

Accounting Summary Report

• Provides an order level detail of Gross Sales, Taxes, Shipping, Surcharges, Discounts, Returns, Net Sales (gross-returns) and Cost of Goods.

• Can provide a summary breakdown for approved orders, pending orders and for the full report.

• The report can be run as a “summary only”, eliminating the order level detail.

• Gross sales data is reported based on the “quantity shipped” rather than the “quantity ordered”.

Accounting Summary Report

• Can be based on three different dates which produces different values for SOME numbers

– Order date

– Detail date

– Actual Shipped date

• User defined date range

• Based on the actual order data

• Changes based on order revisions

Sales Tax & Sales Tax With Sales Figures

• Designed to give a state level breakdown of taxes collected

• Depending on format can also provide taxable sales data

• Based on Order Date

• Report assumes all line items are taxable*

• Assumes the Bill To state for tax reporting – based on sale not destination*

Detailed Sales Report

• Gives the user an item level breakdown by order of SKU, name, product category, net items sold (shipped minus returns), price, cost, margins, date entered and date shipped

• Can be based on Order Date or Actual Date Shipped

• Can be limited to certain products or inventory category

• Pulls information directly from the Order data so information can change within a given period

• Informational report not designed for accounting purposes

Credit Card Deposits

• Based on Transaction date

• One or more transactions dates per order

• Pulls from transactions table

• Limited to the four primary card types

• Best used to verify charges against gateway

• Will seldom balance against sales for the same period

Sales Analysis

• Provides a product level breakdown of MTD/YTD comparison to LMTD/LYTD sales based upon criteria specified by user

• Report is run against Order Details and will change over time

• Uses Actual Ship Date and will not be accurate if actual ship date not set

• SKUs no longer listed in the Inventory table will not be included in the report results regardless of date shipped.

Sales and Cost of Goods

• Provides gross sales (based on quantity shipped) & gross costs, Return sales and costs, net sales and costs.

• Determines margin based on net sales - net cost

• Report can be based on Transaction Date or Actual Date Shipped

• Can repeat sales data in multiple periods if based on transaction date

Daily Audit

• Summary report based on transaction audit system

• Auditing system based on Transaction Date

• Auditing system only audits standard payment methods

• Best used for verification of charges against gateway

• Initially designed to resolve cash drawer for POS

• Will be receiving an overhaul soon!

New Reports based on History

Accounting Summary - New Report

Sales Tax From History Report

What is History?

Accounting Summary- New

• Returns same type of data provided by Accounting Summary Report

• Based on Order “History” thus single Date used

• Only reports on approved orders

• Initial History generated at time order is approved

• Additional history written as changes are made

• History information dated at time change is made

• Report results DO NOT change over time

• More accurate accounting results

Sales Tax from History

• Pulls data from “History”

• Based on a single date

• Data does not change over time

• Calculates Taxable sales values correctly

• Correct state identified

• Returns bug corrected in latest release

• Accurate for accounting purposes

Other History Reports Needed

• Sales and Cost of Goods

• Sales Analysis

• Returns

• Journal entry style (ala QB) for use with other Accounting Apps

• Adjustment reports

• Shipping P&L

• Margins

Power UsersTraining Sessions

Day 1 - Session 2:

Accounting & Reporting