Receipts Report Daily Reconciliation

[Pepe98]

New user here:

I'm trying to balance daily receipts..  Does the following sound right?  If everything was done exactly accurate during the day, then..

Total Net Sales=

Should be equal to

Cash Turned in+Credit Card Payments(less tips)+Comps/Discounts+Gift Cards+Payouts if any (Did I miss anything)

_________________________________________

I feel like discounts are already knocked out of net sales because I'm coming out "over" everyday be roughly the same amount.

What about voids?  Are they already deducted from net sales too?

Also, does the server generally turn in the starting bank drawer with their review or just give it to the next shift/person?

TIA..

Pepe98

[au79teahouse]

Net sales usually does not include taxes.

[Pepe98]

Leave taxes out of it.  The question is basically, are discounts already factored into net sales or is it a separate asset?  I keep having an overage of roughly the same amount as the discounts.

[au79teahouse · Accepted solution]

That is correct. Discounts are factored into net sales. And to use your model in your original post,

net sales = cash payment total + card payment total + gift card payment + other payment type (ex: 3pd) - taxes - tips/gratuity - deferred amount (gift card sales)

[Pepe98]

Thanks...     Does this also apply to voids? 

net sales(Incl Discounts and Voids) = cash payment total + card payment total + gift card payment + other payment type (ex: 3pd) - taxes - tips/gratuity - deferred amount (gift card sales)