Daily Sales Report

Sound financial tracking begins with the accurate recording of sales. The Daily Sales Report (DSR) is the core tracking element for controlling cash, measuring cost vs. sales performance, and forecasting future sales.

Gaining the maximum effectiveness from your DSR entails a two-step process wherein the revenue (sales) side of the equation is generated at the cash register or POS level, and the settlement (receipts) side is based on actual receipts. The difference between the two is commonly referred to as Cash Over and Short (Cash O/S).

In your accountant's world, everything is a matter of debits and credits. At the end of the day, debits must equal the credits in order to properly record income and expenses to the general ledger. Revenue items are credits and settlement items are debits. If the two don't match, the difference is expensed to cash over/short. Here's a quick overview of typical revenue and settlement items:

The basic formula for calculating cash over/short is to add all the settlement items and then deduct all the revenue items. If the balance is negative then you have a cash shortage. Ultimately, operators would like to see cash o/s to equal zero.

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