Taxes & Receipts Tab

The Taxes & Receipts Tab displays the taxes and receipt figures imported from the POS system. There may be additional numbers that you need to enter manually.

Click to view/hide picture.

Verify or enter values in each of the following fields:

Taxes

The Taxes panel displays a total for each type of tax. You will enter the value collected as indicated by the POS. Compeat will automatically calculate a tax amount based on the sales. The Compeat value is the one posted to the food sales tax account. The POS tax figure is used to calculate the Tax Difference, which is the difference between the Compeat calculated sales tax figure and the POS sales tax figure. The tax difference posts to the account defined on the Setup menu > DSR > DSR Definitions screen > Other Accounts tab, when the DSR is posted.

Note: In some states it is necessary to separate taxes for food and liquor sales; if this does not apply in your state, you can enter the total tax amounts in one field.

Receipts

Displays the total amount for each type of payment.

Note: The credit card receipt amounts from the POS financial report could be different than the credit card settlement report. This could cause an out-of-balance situation; to remedy, the settlement difference should be entered as a Comp to a bad debt account.

Deposits

The Deposits panel displays cash and deposit information, including the following:

Note: Only specify a value for till if you include the till in your cash deposit.

Tips and Tricks
If your restaurant pays out charge tips and you deduct a merchant fee from the payout, we recommend that the merchant fee be recorded on the Additional Deposits tab so that this field can remain the gross Charge Tip amount. The next field, Actual Cash Deposit, would then reflect the net charge tip outlay.

Note: Your Actual Deposit, plus any secondary cash deposit, should match the Theo Cash Deposit.