The end of 2016 is coming up quick, the Holidays are in full swing and December is going to fly by. But we all know what starts Jan 1st…and I’m not talking about new promises to go to the gym! There is a lot of information that you may need to get for your end of year reporting, and we want to help make sure you get all the information you need. Running end of year reports will help keep you on track with your inventory and taxes. Being mindful of which report to run and the best time to run it can save you time!
Detailed Product / Service List (Standard/Pro Installed Versions/Standard Cloud)
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This report will show you the retail price of the products and on hand amounts. You want to run this report as close to the end or beginning of year as possible.
Inventory Valuation Report (Ultimate/Med Spa Installed Versions/ Ultimate Cloud)
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This report will show you the value of the product on hand and the amounts sold over the last year. You want to run this report as close to the end or beginning of year as possible.
Sales Tax Reports
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Tax reports show the amount of taxable and non-taxable sales for your business. You can run this any time after the beginning of the year.
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“Sales Tax Detail Report” & “Sales Tax Report” are best to pull this information.
Gift Certificate Reports
- Gift certificate reports show amounts sold, redeemed and outstanding. You want to run these reports any time after the beginning of the year.
- “Gift Certificates Sold Report”, “Gift Certificates Outstanding Report” & “Gift Certificates Redeemed” are best to pull this information.
Here are the links to our full End of Year Best Practices Guides!
Tech Tip: End of the Year Version
A great way to make sure that you keep a snapshot of your
numbers at the end of year, is to make a backup after your last business day of
the year. If you ever need to go back and look at any information from that
time, you can call our support department and we can assist with setting up
access to that data backup for you. This helps you keep a separate copy of your
data from your live data, that won’t be affected by any changes since then.
