With taxes, discounts, refunds, late payments, and unpaid invoices all disrupting your finances, it can be difficult trying to work out exactly how much money you have coming in. We created the Finances summary report to help you keep track of your outgoings and understand exactly how much money your business is making.
To start using your Finances summary report:
- Go to Reports, click on Reports, and select Finances summary.
- Click on Month to date to Apply your date range and use the filter to switch between locations.
- Once you’re happy with the filters you’ve applied, click to export the data as a PDF, Excel, or CSV.
Under Sales you’ll find a summary of your sales activity for the selected period. The sales summary is based on invoices that were created during this time period. All invoices raised during the time period are included in these figures, regardless of whether they are unpaid or part-paid.
The sales summary has been broken down into three sections:
- Gross sales - Shows the total value of all invoices raised during the time period, including any discounts applied or refunds issued. Gross sales do not include invoices raised for vouchers, which are accounted for separately.
- Net sales - Shows the value of your sales, after deducting discounts, refunds, and taxes. Net sales correspond to your business's revenue.
- Total sales - Shows the value of your sales after deducting discounts and refunds, and including taxes.
NOTE: If your tax settings are set to inclusive, then your listed discounts and refunds will automatically be tax-adjusted as well.
PRO TIP: From the Sales summary report, you can click on Taxes to view your Taxes Summary report, or on Total sales to see your Sales by type report.
Your Payments summary report allows you to track payments you've received from sales and vouchers. Payments are broken down into the different payment methods you currently accept at checkout. You can customise how this report is displayed by adding payment methods that reflect the most common methods your clients use.
PRO TIP: Click on Total payments to see a full breakdown of your payment summary by the number of transactions, gross payments, refunds, and net payments.
The Vouchers summary has been broken down into three sections:
- Voucher sales - How many vouchers were issued during the time period (click here for more info).
- Voucher redemptions - How many vouchers were redeemed during the time period (click here for more info).
- Voucher outstanding balance - The total value of all unexpired vouchers that have not yet been redeemed.
There are a few things worth noting when reviewing your sales:
- Issuing a voucher doesn’t affect your sales summary.
- If an invoice for generating a voucher is marked as Paid or Part-paid, the payment will be included in the Payments summary to track the cash received.
- If an invoice for a sale is redeemed with a voucher, the sale will be counted in the Sales summary.
Click here for more information on how vouchers show up in reports.
Under Tips, you’ll find the amount collected in tips for the selected time period and the channel those tips were paid through.
PRO TIP: Click on Tips collected to filter your data by location, staff, and tip channel.
NOTE: To make sure your summaries are accurate, we recommend checking out appointments as soon as they have been completed. This will make sure your sales and payments remain aligned and make it easier for you to track your unpaid invoices.