Click to view/hide picture.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.
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Verify or enter values in each of the following fields:
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.
Food The amount of taxes collected on food sales. Enter the value from the POS.
Alcohol The amount of taxes collected on liquor sales. Enter the value from the POS.
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.
Exempt Food Sales The food sales amount that is exempt from taxes. For example, sales to nonprofit organizations or foreign diplomats are usually tax exempt. This figure gets posted to a statistical account, meaning that the figure does not affect your financial statement, but is available when determining the correct sales figures for your sales tax reporting needs.
Exempt Alcohol Sales The liquor sales amount that is exempt from taxes. For example, sales to nonprofit organizations or foreign diplomats are usually tax exempt. This figure gets posted to a statistical account, meaning that the figure does not affect your financial statement, but is available when determining the correct sales figures for your sales tax reporting needs.
Displays the total amount for each type of payment.
Cash Cash receipts as reported by your POS.
Non-Compeat GC The amount redeemed in gift certificates not issued through Compeat.
Compeat GC Automatically populated with the information entered on the Gift Cards Tab, and cannot be changed from this tab. To change the value displayed in this field, make corrections to the information on the Gift Cards tab.
House Accounts Automatically populated with the information entered on the House Accounts Tab, and cannot be changed from this tab. To change the value displayed in this field, make corrections to the information on the House Accounts tab.
Credit Cards The values from the credit card settlement report, not the amounts from the Micros POS system.
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.
The Deposits panel displays cash and deposit information, including the following:
Theo. Deposit The amount of money that should be deposited into your bank account. The theoretical cash deposit is calculated as follows:
Cash receipts {- charge tips (optional, see below)} - paid outs + bar bank + additional deposits not recorded through POS + cash house account payments.
Till If you use POS Polling, Compeat will display any amount entered in the Till tab setup for this day of the week. If you do not use POS polling or if you actually started with a different amount in the till, enter the correct value.
Note: Only specify a value for till if you include the till in your cash deposit.
Charge Tips Charge tips are the gross amount of tips from credit card and house account charges paid to the wait staff. The checkbox "Charge tips paid out" (on the DSR Definitions' Other Accounts tab) determines how the value entered in this field is handled. If checked, it indicates that charge tips are paid out; therefore, this value is automatically subtracted during the Theoretical Cash Deposit calculation, and is not recorded in any GL account. If not checked, it indicates that charge tips are not paid out; therefore, this value is credited to the GL account specified on the DSR Definitions screen > Other Accounts tab, and the theoretical cash deposit is not affected.
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.
Actual Deposit #1 Enter the dollar amount of the actual bank deposit. A deposit slip should exist with the same value for verification purposes.
[Actual Deposit #2 Field Name] If you have entered a custom field name for a second cash deposit account under Setup > DSR > DSR Definitions > Other Accounts tab, it will appear here on the DSR, and you can break your actual cash deposit up into two separate bank accounts.
Note: Your Actual Deposit, plus any secondary cash deposit, should match the Theo Cash Deposit.
Over/Short The calculated amount difference between the Theo. Cash Deposit and the Actual Cash Deposit. This value is posted to the Over/Short account defined on the DSR Definitions, Other Accounts tab. The amount you are over or short will not affect whether your DSR balances, it is only an indication of how different the calculated cash deposit is from the actual cash deposit.
