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How to run the revenue and tax report

The revenue and tax report is a summary of all of your revenue and sales tax collected for a set timeframe. To run this report to go Reports > Management Reports > Revenue and Tax Report

Important: Most businesses will only need to reference the Actual Gross Revenue, Taxes Collected and Total Revenue lines on this report.

Note: The Total Revenue on the top line of this report is often misunderstood. This value is a total of all sales, including Gift Certificates, Service Series, and Account Payments. As a result, these values will be included in this total when it is sold as well as when it is redeemed. This “double inclusion” means that this total is usually artificially inflated and should not be used as an indicator of actual revenue.

The next three lines represent the total revenue collected from the sale of Gift Certificates, Service Series and Account Payments. Please be aware that these values are not an accurate reflection of the actual liability involved in selling items such as Gift Certificates. For example, a Gift Certificate can have a value of $50 even though it was sold for less (say $25) as a promotion. The actual liability to your business is $50 but this report will indicate a sale of $25 since that was the actual amount collected. For an accurate listing of Gift Certificate, Service Series, and Account liabilities, please use the Gift Certificate, Series, or Accounts Receivable reports in the Management Reports menu.

The Actual Gross Revenue is the total revenue collected from the sale of products and services and has had Gift Certificates, Service Series, and
Account Payments sales removed. The next two lines display the totals for the two levels of sales tax that were collected on the sale of products and services. Please note that Gift Certificate and Service Series sales are not subject to sales tax until they are redeemed for products or services since that would result in the taxes being charged twice. The final line on this report is the total of your Actual Gross Revenue including the taxes collected.

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