What is the POS to Statement Bridge Report(Daily)?
It provides a comprehensive view of how sales in your POS are converted into funds deposited in your bank account Daily. Each column and its sub-components represent either an addition or subtraction to the POS Receivable, ultimately leaving you with the Ordering Platform’s deposit.
How to Generate the Report
To learn how to create Reconcile Reports that offer relevant data for your needs, please refer to the guide on how to use Reconcile reports here. This page will guide you through generating the report and filtering for additional details.
POS to Statement Bridge(Daily) Report - Terminology
| Column Name | Description |
|---|---|
| Brand | The name of the brand. |
| Location Name | The name of a location under the brand. |
| Ordering Platform | The third-party ordering platform from where the location received orders. |
| Order Date | This report provides a daily summary of transactions, detailing each day's total in a distinct row. This contrasts with the POS to Statement bridge, which aggregates the transactions from all days within the selected date range into a single line item. This report offers a clear, day-by-day financial overview by presenting each day's transactions separately. |
| Expected POS Receivable | The expected gross sales of all the transactions in the Point Of Sales. This includes net sales, tax, and gratuity. Expected POS Receivable = Expected POS Sales + Expected POS Tax + Expected POS Gratuity |
| Less: Refunds and Adjustments Inc Tax | All refunds and adjustments as per the online ordering platform statements. This is sum of net refunds and adjustments, including the associated taxes. Statement Refunds and Adjustments = Refunded Sales and Adjustments + Refunded Sales Tax + Out of Period Refunds and Adjustments (Net) |
| Less: Sales Difference Including Tax | All differences in pricing between the POS and Statements, including Elevation, Menu Price Variance, and any other price discrepancies involved. |
| Less: Withheld Tax | Sales tax an ordering platform withheld to pay in jurisdictions with marketplace facilitator laws of the state. |
| Less: Commissions Fees | The sum of all fees and commissions an ordering platform charges restaurants to make their stores visible to potential customers, provide support, and provide other related services. |
| Less: Marketing | The marketing expense incurred on an order through discounts, coupons, etc. |
| Deposit Expected | The amount expected to be deposited into the restaurant bank accounts after all deductions, such as service charges, commissions, taxes, and adjustments. Deposit Expected = Expected POS Receivable - Refunds and Adjustments - Sales Difference - Withheld Tax - Commissions Fees - Marketing |
| Deposit in Bank | The actual payout deposited in the bank from the ordering platform. |
| Deposit Over Under | The difference between the expected deposit and the actual amount Deposited in the Bank.Deposit Over/Under = Deposit Expected - Deposit in Bank |
| Net Difference | The difference between Expected POS Receivable and Deposit Expected. Net Difference = Expected POS Receivable - Deposit Expected |
Check out Types of Reconcile Reports to see other reports you can generate.
Comments
0 comments
Please sign in to leave a comment.