Monthly Income - Which Report to use
Hi
I am wondering if I should be using Date Range Reports in Income for my accounts. I use them for my monthly accounts but they never seem to tally with reports in Sales Dashboard.
Neither of which seem to tally with “All Orders” under Fulfilment Reports when you download them.
So which report is the most accurate?
And probably a daft question but is the Income Amount in Date Range Reports Inclusive or Net of Vat? I would assume Inclusive but I’ve just had an almost sleepless night when a niggling thought became a raging torrent of panic. lol
18 replies
Seller_x1xMSBwZsJrTE
I think the reports on the sales dashboard include ALL sales. So if for example someone cancels an order while it’s still pending it would show on the sales dash but wouldn’t appear in your reports. That would explain the different figures.
As to why Date Range Reports don’t tally with ‘All orders’ I’m not sure. Is it to do with the date the order is actually paid for as opposed to when it is placed?
Personally I use the Date Range Reports. I think the important thing is that whichever you use you stick with it, then you are always using a consistent set of figures.
Seller_vIpv9uvBH6CFY
We use statement view for every payout individually, since it coincides with the exact amounts that you actually receive. In xero we simply break it down into detail for each payout, so total sales, minus fees, minus refunds, etc… and it all adds up correctly to the last penny. We withdraw weekly so each withdrawal has it’s own statement. If you’re using cash accounting you don’t have to account for it until you’re actually paid, so it’s perfect for that. We’re not signed up for vat calculation service but I don’t think it affects the statement view anyway.
We used to use date range reports, but the accountant strongly advised against it. The statement view is actual statements of your exact payouts.
