Description: Review the Restaurant Financial Overview (RFO), also known as the Daily Report. The below utilizes the Daily Reporting listed in Lighthouse, which is a better layout for understanding the numbers than on the POS Daily Report.
For more information on reporting, visit the Reporting Overview article.
Gross Total
The Gross Total, often confused with the Total Gross Items, explains how much money you could have generated if no manual discounts had been run. Automatic discounts are often things such as Happy Hour, where you do not want to account for discounted sales when looking for how much could have been generated. This total is the potential sales you could have made if you did not do any manual discounts. The equations for this total are as follows:
Gross Total = Net Total + Manual Discount
OR
Gross Total = Total Gross Items - Automatic Discounts
Total Gross Items
Total Gross Items, not to be confused with Gross Total, provide the total value of the items sold prior to any discounts during the time and date parameters you set. This total helps you understand how much money could have been generated if no discounts (manual or automatic) had been applied. The equation for this total is as follows:
Total Gross Items = Net Total + Manual & Automatic Discounts
OR
Total Gross Items = Gross Total + Automatic Discounts
Important: If the Gross Total and Total Gross Items are the same numbers, this is due to not utilizing any automatic discounts during the date and time parameters for which this report was pulled.
Net Total
The Net Total is simply the Net Sales total. This total does not include any taxes or tips but is the basic Net Sales of all transactions processed between the determined date and time parameters. Net Sales are often referred to as a “pre-tax” total. The equation for this total is as follows:
Net Total = Total Receipts - Taxes - Tips
Net + Taxes
The Net + Taxes total is the Net Total with taxes added into it. The difference between this total value and the Total Receipts value is that the tips are included in the Total Receipts and are not added to the Net + Tax total, resulting in the following equations:
Total Receipts - Tips = Net + Taxes
OR
Net Sales + Tips + Taxes = Net + Taxes
Total Receipts
Total Receipts is the value of all forms of tender brought into the business for the date and time parameters selected. This total also includes the taxes and the tips, so it is the largest value reported. The equation for this total is as follows:
Total Receipts = Net Total + Taxes + Tips
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