I've just taken on a pub as a new client and they have given me daily Z reports. (I haven't done bookkeeping for a pub before).
The reports give me a breakdown of Draft, Bottles, Spirits etc (and food) as gross sales. There is then a breakdown of cash and credit card takings which the report shows as net sales.
Can anyone please advise how I record this? My initial thought is to post the gross sales separated into food & drink but then this will not tie up money in the drawer.
(And any other advice/help on how to read Z reports would be much appreciated, thank you)
Does the client want a breakdown of food and drink, if so I would have two income categories to match. Your cash total should match the cash in the drawer and I would put credit card sales into a separate bank category and transfer out into main bank account when payment goes into bank.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Every Z is different, some basic and some very complex. Depends how it was set up and sophistication of till/system. Post a copy. You do not say if VAT registered or set up in readiness.
