Retail Commercial Records Reports by Daily Proceeds
Retail Commercial Records Reports by Daily Proceeds
Retail Commercial Records Reports by Daily Proceeds |
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The procedure described below is only suitable for
accounting firms that do not have their clients' complete records in their
databases. |
Let's take a look at an example.
1. Information in the Costing/Pricing
panel of the Items register
2. Receiving
In February, you purchase 10 pieces of the item TOOL BUCKET at the purchase
price from the Costing/Pricing of the Items register, that is, 24 EUR and a
discount of 10%. The purchase price is therefore 21.60 EUR for 1 piece of this
item, or 216 EUR for 10 pieces.
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The procedure described below is only suitable for
accounting firms that do not have their clients' complete records in their
databases. |
If the Costing/Pricing panel in the Items register has not been filled out
for an item, the costing must be filled out in the
Lines tab in the Costing tab of the receiving document in order to guarantee
the correctness of the retail commercial records report. If you enter a costing
this way, it is generally recommended that you also create a price change
document (see
Creating Price Change Documents).
The value of the sale of this item by the price in the first price class is
31.50 EUR without VAT or 37.80 EUR with VAT; the price from the second price
class is 29 EUR, and the price from the third price class is 26.75 EUR.
This information will appear in the receiving slip:
3. Sale - Daily Proceeds
The daily proceeds from the sale of the items received in step 1 are 378 EUR.
Let's say that we don't have any information about which item was sold, its
quantity, or its price. That's why we'll enter an issue invoice for the daily
proceeds. This will allow us to perform the necessary posting and create a cash
receipt document.
Because in this case, information from the Items register about the sale
price is not available, we will select the Use Actual Sale Price option in the
Read Sale Price from box for the retail commercial records report we are
creating.
The retail commercial records report we have created will look like this:
4. Balance
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The balance from these transactions can differ from
the actual value of stock by retail prices! |
One example is if the customer has received a discount on the retail price.
This information cannot be discerned from the daily proceeds.
The actual value of stock (by retail prices) and the value of stock shown
in the retail commercial records report could therefore differ (unlike in the
examples in the chapter Price Types in Commercial
Records Reports) by the difference between the retail price in the Costing/Pricing
panel in the Items register and the price given to the customer in the actual
issue document.