Your sales and payments summaries on your Finance report will always be closely aligned, but they won't always match up 100%. There are a number of reasons why there might be discrepancies between your sales and payments:
- Unpaid invoices - If you generate an invoice, but don’t receive payment during the same time period, your Total sales will be higher than your Total payments. You can use your Sales log report to track any part-paid and unpaid invoices.
- Late payments - You may occasionally receive payments from invoices generated in the past (for example by collecting cash from a customer whose card was declined during their last visit). Late payments will reflect in your Total payments, but not in your Total sales if the sale was generated before the reporting period. You can use your Payments log report to track any payments that were made on old invoices.
- Tips - Tips are included in payments calculations, but are not included in sales. This is because they’re not considered to be part of a business's revenue under most accounting standards.
NOTE: To help you make sense of your Finance summary, 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.
Click here to find out more about the Finance summary report.
