The Revenue Register report provides summary and detail information on sales related revenue activity (Administration > Reports > Sales > Orders and Invoices > Revenue Register). Revenue, for purposes of this report, is defined as any POS, sales, service or return transaction that has been invoiced. Use this report to reconcile periodic activity within each revenue account, by store or by revenue type. Cost of goods sold is displayed on the report for analytical purposes and can also be used if you are posting to an external (non-Evosus) ledger system.
Revenue Postings Not Included on the Revenue Register
Items of revenue not recorded through the POS or invoice function do not display on this report. Since the Revenue Register only includes sales-related transactions at a line item level, non-sales items posted to a revenue general ledger account could cause the Revenue Register to not match the General Ledger. You should exclude these items when reconciling to the Revenue Register. The following are examples of possible revenue items that are NOT included in the Revenue Register:
- Journal Entries
- Statement Charges
- Credit Memos
- Bank Deposits
- Vendor Invoices
Discounts on the Revenue Register
Coding discounts and returns to your primary sales revenue accounts may impact your ability to reconcile this report accurately to your general ledger accounts. Discounts are included at the line item level on the Revenue Register; however, if some of your discounts are coded to sales revenue accounts rather than specific discount accounts the discounts on the Revenue Register may not match to where the discounts actually posted on the GL. For instance, item #1234 posts to the 4000 – General Sales account. A discount was applied to this line item and the discount default posting is to the 4500 – Other Sales account. The Revenue Register will display the discount under the 4000 – General Sales account since that is where the line item was posted; however, the general ledger will display the discount under account 4500 – Other Sales. This reconciliation would be easier if the discounts were posted to separate, non-sales revenue accounts.
Potential Differences Between Money Tree and Revenue Register
#1 If line items are cancelled on an invoice, the balance due is not affected. The line items still post to revenue accounts. These cancelled items DO show on the Revenue Register, but do NOT show on the Money Tree.
#2 The rounding method for line items on the Money Tree and Revenue Register is slightly different. The Money Tree takes the sum of all line items and then rounds the total whereas the Revenue Register rounds each individual line item.
#3 Gift Certificates display on the Money Tree since they are an invoiced line item; however, they are generally a liability item. Since Gift Certificates are not a revenue item, they are excluded by default on the Revenue Register. In the next release (due August 08), we are removing the filter for Gift Certificates on the Revenue Register. All invoice line items will display on the Revenue Register to aid in tying the report to the Money Tree. Note: These liability items should be disregarded when tying the Revenue Register to the general ledger.
- Accounting Period: Accounting periods are created, closed, and reopened using the Periods tab on the Accounting Setup screen.
- Customer type: Use customer types to setup different customer classifications, e.g. Commercial, Residential, or Wholesale.
- A customer type is added to a customer using the Profile tab of the Customer screen.
- Point Program: Point rewards programs allow customers to accrue points based on purchases and then receive rewards when an award level is reached or the program ends.
- Click on the icon on the Customer tab to add a customer to a point program.
Security Permissions Required
|Admin-Reports||Can Access Reports Tree Branch|
|Can Access Reports - Sales|
Unless explicitly stated, this topic documents the most recent version of Evosus Business Enterprise. If you're not using the latest version, go here to download it.
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