Reports for your accountant: GST summary and transactions

Reports → Accounts is what your accountant or bookkeeper asks for at the end of a month, quarter or year: the totals, money in by how it was paid, a tax summary by month, and every transaction as a spreadsheet. It needs "See reports for the whole salon" (owners and managers to start with). Its figures are the same as the Overview report for the same dates.

#Choosing the period for the Accounts report

The Accounts report has the accountant's periods: Last month (where it starts), This month, Last quarter, This quarter, Last financial year, This year and Custom. Quarters are calendar quarters (July to September, and so on), the way a quarterly BAS runs.

Last financial year runs from 1 July to 30 June for salons in Australia, and from 1 April to 31 March in New Zealand and the UK. Elsewhere it isn't offered: use Custom. A report covers a year at most.

Sales count on the day they were put through at checkout, in your salon's time zone.

#For the accounts on the Accounts report

The For the accounts card on the Accounts report:

Under it is the number of sales. Voided sales are never in these totals. For how revenue is worked out, with an example, see revenue and the takings figures.

#Money in by method on the Accounts report

Money in by method on the Accounts report is the same as the Overview's: payments on sales in the period by how they were paid (except account credit and gift vouchers spent at checkout, which were counted when they were paid for), plus deposits taken onto clients' accounts, less account credit refunded and card refunds made in the Stripe Dashboard, each on the day it happened.

Gift vouchers are money in when they're sold, under how they were paid for, so spending one isn't counted again. For how each line is counted, see money in by method.

#The GST summary by month

The tax summary on the Accounts report (GST summary, named after your tax) has a row for each month, by the date of each sale:

Sales incl. GST and the GST on them are usually what a tax return asks for (on an Australian BAS, G1 and 1A). Check with your accountant.

The GST summary button downloads the same table as a spreadsheet, with a total row and a few more columns: the number of sales, discounts off whole sales, and discounts on items (incl. promo codes).

#The transactions spreadsheet

Transactions on the Accounts report downloads every transaction in the period, oldest first, one row each, for your accountant to bring into their own books. Its columns are Date, Time, Type, Sale no., Client, For (when a line was for someone other than the person paying), Team member, Item, Qty, Unit price, Discount, Promo code, GST, Amount, Payment method, Money in, Reference (a gift voucher's code, or the card's brand and last four digits) and Note.

What it lists:

• Each sale's lines: every service, product, gift voucher sold, other item and tip, with the sale's tax shared exactly between its items, and a Discount on sale row for a discount off the whole sale. A sale's lines add up to what it came to.
• Each payment, with its method. Money in is the payment, except account credit and gift vouchers spent at checkout, which are $0 (they were money in when they were paid for).
• Voided sales, on the day they were voided, noted "Not in the totals".
• Account credit: deposits, deposits removed, and credit refunded. Credit added or taken off by the salon is listed as "Not money: credit only".
• Card refunds made in the Stripe Dashboard, as Refunded in Stripe, money out on the day each was made. The sale it was on still counts as sold.

The Money in column adds up to Money in by method for the same dates.

#Also in the transactions file

The Also in the transactions file card on the Accounts report adds up what's listed in the transactions spreadsheet but isn't a sale:

• Gift vouchers redeemed: spent on sales in the period, and how many times. It says "not money in again", because a voucher is money in when it's sold.
• Account credit deposits taken, used at checkout and refunded.
• Voided sales: how many were voided in the period and what they came to. They're never counted in the totals.
• Card refunds made in the Stripe Dashboard: how many, and how much.

#Common questions

#Does the Accounts report match the Overview?

Yes. For the same dates, For the accounts and Money in by method are the same on both. The Accounts report also splits discounts into whole-sale and single-item ones.

#Why aren't gift vouchers in sales incl. GST?

Gift vouchers are taxed when they're spent, not when they're sold. A voucher sold in March and spent in May is in May's taxable sales, as part of the service or product it paid for.

#A sale from last quarter was voided this quarter. What happens?

It comes out of last quarter's totals, because voided sales are never counted. It's listed in this quarter's transactions file on the day it was voided. If you've already lodged last quarter, tell your accountant. Pay is different: see voided sales on the Pay report.

#A client was refunded in the Stripe Dashboard after I'd done my BAS. Does that change it?

No. A refund made in the Stripe Dashboard doesn't change the sale: it still counts as sold, in the month it was made. The refund is card money out in the month it was made, listed in that month's transactions. Your accountant can adjust for it.

#Can I send the accountant a file for the whole financial year?

Yes. Choose Last financial year (or Custom dates up to a year), then GST summary and Transactions.