[RetailEdge Moderator]

There have been many questions on how to interpret some of the values displayed on the closing Report hopefully this will answer many of these
questions.

The closing report is a report that should be run every night. This gives you a summary of the daily sales activity for a workstation(s)/register(s)
and will give you the information you need count the receipts/cash taken in for the day.

The closing report is broken into three sections, the sales summary, cash drawer summary, and department summary. Each section presents the information a little differently.

Also many of the questions we receive relate to how these sales shown on a closing report are shown in QuickBooks when the Export/Transfer process is done. The information presented on a RetailEdge Closing Report is going to look a little different than when the data gets put into QuickBooks. For instance for the purpose of the Closing Report, sales of gift cards are shown in some of the sales totals (non-merchandise sales in the sales adjustment section). However, since QuickBooks is an accounting program, these "sales" are not included in the sales totals, but are shown as an adjustment to a Gift Card Liability account. If you want to see how the RetailEdge data gets transferred to QuickBooks, we have included a QuickBooks file (RetailEdge-QB-2005.QBW) in the installation directory. If you create some sales in the demo database and then export/transfer the data to this file, you should see how the data will come across.

Listed below are the sections shown. Comments about each section are shown with a //

SALES SUMMARY

//Totals Merchandise and Non-Entered Sales Section. Shows all sales except Gift Card Sales. Special break out is shown for shipping items.

Merchandise Sales: $5.00
Non-Entered Sales: $1.00 //Items with no stock number entered on the sales screen (Non Entered Items are sold by entering a 0 for the lookup number on the sales screen)
Shipping: $1.00 //Items with a stock type "Freight"
Total Actual Sales: $7.00

//Sales Adjustments Section.
Taxable Sales: $7.00 // Sales Includes sales of gift cards. Adjustments for gift cards are made below.
Non-Taxable Sales: $1.00

Payouts: $0.00 // Used to track cash that is removed from the drawer for expenses (accessed from the Register Menu)

Gift Cards Issued: $1.00
Gift Cards Redeemed: $0.00

Store Credit Issued: $0.00 //Store credits are typically issued for a return of an item
Store Credit Redeemed: $0.00 //Store credits redeemed will reduce your deposit total

Layaways Completed: $0.00 //When layaways are completed they are converted to a sale. Adjustments need to be made for deposits talken previously.
Layaway Payments: $0.00 //Layaways are not sales but adjustments need to be made for payments taken.

Loyalty Dollars Issued: $0.00 //Loyalty Program Dollars issued are issued
Loyalty Dollars Used: $0.00 //To balance sales using loyalty dollars issued.

Open Orders Completed: $0.00 //When open orders are Completed they are converted to a sale. Adjustments need to be made for deposits talken previously.
Open Order Payments: $0.00 //Open orders are not sales but adjustments need to be made for payments taken.

House Charges: $0.00 //House charge sales do not take any payment at the time of sale and must be adjusted for.
House Charge Payments: $0.00 //House charge payments are not part of the regular sales process but will effect drawer totals.

Sales Tax: $0.49 //Sales Tax is not included in total sales number but is collected and must be accounted for.

Non-Sales Adjustment: ($1.00) //The closing report has a line item for Non Sales Adjustments. These are adjustments are for actions that are not a part of the sales process and include: Gift cards manually issued, Gift cards manually voided (with no refund), Loyalty dollars issued, Loyalty dollars voided, Store credits manually issued, Layaways canceled (with no refund), Open Orders canceled (with no refund)

Deposit Total: $8.49

//Transaction Count and Ticket Summary Section (located upper right hand side of page style closing report)
Transaction Count: 3
Number of Sales: 1
Number of Voided Sales: 1
Number of Other Trans: 1 //Other non-sales transactions (loyalty $ issueed, register opens, etc.)
Open Ticket Number: 1067
Close Ticket Number: 1069

//Cost, Profit and Other Transaction Summary Section (Located under Transaction Count and Ticket Summary Section)

Gross Costs: $1.55
Gross Profit: $4.45
Actual Margin: 74% // Margin is calculated as (1-Cost/Retail)
Average Sale: $6.00
Returns: $0.00
Type Nonstock Sales: $1.00 //Items with Non-Stock Stock Types. Non-Stock items are items without specific quantities. Examples would include repair services and labor type items.

Potential Sales: $62.10
Discounts Extended: $56.10
Potential Margin: 98%

CASH DRAWER SUMMARY//Starting cash amounts, total collected, number of transactions and average sale for each payment method. Also displays total number of transactions (count) and average transaction $ for each payment type.

Start Cash Amount: $0.00 Count Average
CASH
VISA
AMEX
DISC
CHECK
DEBIT CARD
Drawer Total
Drawer + Start Cash Amount:

DEPARTMENT SUMMARY // Summary Sales Quantity, Total Sales Price, Average Sale Price, %Total Sales for each department. Also displays Totals for all departments.

Department Quantity Price Average %Total
FOOT 1 $1.00 $1.00 16.7%
GIFTS 1 $1.00 $1.00 16.7%
MISC 1 $1.00 $1.00 16.7%
REPAIRS 1 $1.00 $1.00 16.7%