Different Reports Showing Different Sales! (confusing!)
Hello. I am trying to figure out the best way to download reports for record keeping purposes to show our turnover. I am getting confused, because the Reports -> Business Reports -> Sales Dashboard "ordered product sales" total seems to be very different to the total shown on the payment report...
For the payment report, am I correct in thinking the "Income" + "Expenses" = Turnover on the report? if so, then the amount seems to be a few thousand higher than the turnover shown as "ordered product sales" on the sales dashboard for the same period. So I am very confused about what to use when calculating our overall turnover. I have to keep an eye on the turnover, but one report is showing a way higher figure than the other. Also I don't want to overpay VAT to HMRC on our turnover, so I need to make sure I give the right information.
Please can anyone clarify this? I would really appreciate your help!
Different Reports Showing Different Sales! (confusing!)
Hello. I am trying to figure out the best way to download reports for record keeping purposes to show our turnover. I am getting confused, because the Reports -> Business Reports -> Sales Dashboard "ordered product sales" total seems to be very different to the total shown on the payment report...
For the payment report, am I correct in thinking the "Income" + "Expenses" = Turnover on the report? if so, then the amount seems to be a few thousand higher than the turnover shown as "ordered product sales" on the sales dashboard for the same period. So I am very confused about what to use when calculating our overall turnover. I have to keep an eye on the turnover, but one report is showing a way higher figure than the other. Also I don't want to overpay VAT to HMRC on our turnover, so I need to make sure I give the right information.
Please can anyone clarify this? I would really appreciate your help!
Seller_Nx3Da5XPngGEm
I closed the case with SS, as I figured this one out with the help of my accountant. The payment report for the turnover you add income + tax (because it shows VAT at 20% as tax here on the report separately in the bottom right side of the report). Also the discrepancy VS the business report is that the business report (Sales Dashboard) includes refunds and cancellations in the total. I've added it all up and it is accurate now. Hope this helps.
0 replies
Seller_iqMZDTwfRQhHQ
Not much help to you ... I came here to ask similar question as I'm still waiting on a response form SS but...
I do know from previous question to 'help' the that sales dashboard should be ignored as that includes any sales which are then cancelled or refunded. I'm trying to establish why the Transaction Summary in the Repository shows different figures to the actual Transaction Report when totalled - I have been initially told different reports capture different timeframes and there's 24 hour lag but I don't make £1000s in 24 hrs so I don't think that's problem. I normally just use the summary report so I think I'll tell new accountant to use that then at least I'm consistent . I use Link my books to pull everything into Xero from Amazon and Xero calculates my VAT. It's worth every penny in time saving
