Skip to content

Overview - Daily Summary

A concise report that provides a snapshot of fnancial transactions and activities that occured within a single day. It serves as a crucial tool for monitoring and managing the financial health of a business on a day-to-day basis

Components of Daily Summary

DateThe date of the summary which is usually the end of the business day
Stock @ CostThis is the total value of inventory on hand at its purchase
Stock @ SellingThis represents the total value of on hand at its selling prices which include any markup or profit margin applied to the cost price.
Total Stock ReceivedThis includes the total quantity and value of inventory received during the day. It is important for tracking inventory inflows.
Gross Sale AmountThis is the total revenue generated from sales before deductions. It includes the selling prices of all goods sold during the day.
Discount AmountIf any discounts were offered to customers during the day, this figure reflects the total amount of those discounts.
Net Sale AmountThis is the actual revenue earned by the busines after substracting discounts and retruns. It represents the money that the business actually received.
Amount ReceivableAny outstanding invoices or accounts receivables that were collected during the day
Tax amountDetails of any tax payments or tax-related transactions made during the day such as sales tax
Cost PriceThe cost price of all goods sold during the day. It helps in calculating the cost of goods sold(COGS), which is essential for profit determination
ProfitIt provides a measure of the day's profitability. It is calculated by substracting the cost price from the net sale amount

How to RUN Daily Summary

  • Navigate to the Daily Summary page
  • Select the Date from - Date to if the daily summary has not been ran in a while
  • Click Run
  • Wait for daily summary to complete
  • Refresh page

How to REVERSE Daily Summary

  • Navigate to the Daily Summary page
  • Select the Date from - Date to (period you want to reverse)
  • Click Reverse
  • Wait for reversal to complete
  • Refresh page

Running your business with ease