In this Article: Show
A report of payments made against the Invoices (i.e. receipts) found within the specified time frame.
All of the payments you receive are sorted and compiled onto a Payment Report; this report includes two reports and may span multiple pages.
The amount should balance with your cash drawer. You can make your bank deposits at any time; FrameReady time stamps when your last deposit was made and calculates all subsequent entries.
During high volume sales, you can make more than one deposit per day. Payments are sorted by tender and totaled.
The first page/report is for “Receipts” and shows all income for the specified time period, sorted and sub-totaled by tender.
From the Main Menu Invoices
panel > Payment Report
OR
Invoice (list view) >
Payment Report or Invoice
(form view) > Payment Report
sidebar button.
The Payment Report dialog box appears.
Select a Date using MM/DD/YYYY or use the calendar control.
Click Proceed.
A print preview appears.
Click Continue to print.
The first report is titled Receipts and shows all income for the specified time period, sorted and sub-totalled by tender (e.g. Amex, Cash, Cheque, etc).
The second report is titled Receipts Sorted by Date and shows the income for the day and the Taxable amount, Non Taxable amount and the tax(es). If you have entered two tax rates, e.g. City Tax and State Tax, then both amounts appear.
Tip: You can also print a report by a range of dates. The report differs from the End of Day Payment report in that it tracks the date and time when the report was created; providing you a way to reconcile your receivables with your bank deposit at any time of day.
The heading includes the date or date-range specified when created.
The data in this report is grouped by payment type. For example, all
Deposits appear together (sorted by date) followed by a sub-total.
The first column contains the Invoice number; you can locate the Invoice in FrameReady by performing a search for the number.
The second column shows the Date.
The third column shows the customer Name, if applicable.
The fourth column shows the Tender type, e.g. Amex, Cheque etc.
Next is the Reference number, if applicable.
And finally the Payment Amount.
The last page of the report provides a final total of all payments for the specified date or date-range.
Is printed after the above Payment Report.
The Receipts Sorted by Date report breaks down the receipts for the given period and calculates the portion of tax required. It also calculates a total for taxable and non-taxable sales and does it for each of the possible two tax fields.
The Receipts Sorted by Date report may be used for Cash Basis Accounting.
The Receipts Sorted by Date Report calculates your taxes based on the amount of payment received on each Invoice and not on the total amount of the purchase. For example:
Mrs. Smith buys a $2000 framed painting. The taxes (8%) on the purchase are $160. The total purchase is $2160. By using this report, the amount of taxes paid are determine by the amount of money Mrs. Smith pays on the invoice. If her initial payment is $540 toward the total, then the amount of tax on that payment is $40 and $500 goes toward the pre-tax amount.
This method of tax remittance is based on a cash-basis system rather than an accrual system. Many small businesses operated by a sole proprietor use cash-basis accounting. Check with your accountant to determine which system is best for your business. Do the majority of orders pay within a one month time frame? Do you have a lot of layaway or payment plan orders?
Choose Main Menu > Payment Report
Choose a range of dates or time stamp.
Click Proceed.
The Receipts Report appears
first; skip this report or print it.
Then Receipts Sorted by Date is shown.
Click Continue to print.
Warning: Do not use this report / rely on this data if you are creating Deposit Invoices (an invoice which marks the deposit as tax exempt) for the initial payment from the customer. Doing so prevents the taxable amount from being calculated for monies received on deposit invoices and will only calculate the tax on the balance of the payment when it is received. Instead, use the Invoice Details report from the Main Menu > Sales Report and select either Monthly, Weekly, or End of Day Report > Invoice Details.
The heading includes the date or date-range specified when created.
The data in this report is sorted by payment date.
The second column, Total Receipts, is the total payments received for the day. Not to be confused with total sales.
The next three columns pertain to the Tax 1 settings in FrameReady. The last three columns pertain to Tax 2 (if applicable).
The third column, Non Taxable,
reports only the portion of that day's receipts on which no taxes
were collected.
For example, if a Line Item on an
Invoice were marked as Non Taxable (e.g. labor), or if a Contact were
eligible for a Tax Exemption.
The fourth column reports only the portion of that day's receipts that were taxed.
The fifth column reports the amount of actual tax collected.
The last three columns are the same, but for Tax 2.
Finally, column totals can be found at the end of the report.
Total Receipts = Tax 1 Non Taxable + Tax 1 Taxable + Tax 1
Total Receipts = Tax 1 Non Taxable + Tax 1 Taxable + Tax 1 + Tax 2
Is printed after the above Receipts Sorted by Date Report.
Invoices are grouped by Invoice Category, e.g. Gift Certificate, Matboard, L/E Print, Work Order, etc.
The first column is Invoice Number.
Second column is Invoice Date.
Third column is Category.
Fourth column is Line Item Total.
Fifth and Sixth columns are Tax1 and Tax2.
NOTE: Due to issues of rounding, the columns in this report may not add up to the printed sub-totals, nor will the final totals necessarily add up to the total receipts for the given period.
Choose Main Menu > Invoices section > Sales Reports.
Click Commissions.
Choose a date range.
Click Proceed.
Click Continue to print.
A detailed documents prints. Then a summary document prints.