David Crichlow
Updated :
Gross Sales and Net Sales
A lot of confusion arises when reporting on gross sales and net sales. This is because different organizations have varying methods for calculating these numbers. Qu has recognized this and developed a method that allows you to define gross and net sales based on your organization’s needs.
Report Calculations
Qu gives administrators the ability to set their own calculations for Gross and Net sales. This configuration is completed at the enterprise level, granting an admin control over the calculations completed at their corporate and franchise locations
To configure your gross and net sale:
- Hover over Configuration in EI (admin.qubeyond.com)
- Select Reports from the dropdown
From there select the items that factor into your calculation
|
If Net Sales = Item Sales – Discounts + Services Charges, you would check Item sales, Discounts and Service Charges, since all three factor into the equation (even though discounts are a negative value). |
Most Commonly used Calculations
Because the same terms are sometime used differently, the calculation steps for the most common definition has been outlined below.They are used to calculate the amounts found in the various reports in EI. However, in most case the Summary Report will be used as the reference point for all other calculations.
First there are several values that are used to calculate these amounts and are listed below:
- Total Item Sales
- Discounts
- Service Charges
- Taxes
- Gift Cards Sold
- Tips
The table below shows the calculations for Gross Sales, Net Sales, and Tender Amount.
|
Name |
Calculation |
|
Total Item Sales (Item Group) |
= Subtotal of All items sold |
|
Net Sales |
= Total Item Sales - Discounts + Service Charges |
|
Gross Sales |
= Net Sales +Taxes |
|
Paymets |
= Gross Sales + Gift Cards Sold + Tips |
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