The Summaries module in Tradebox allows users to summarise sales from a specific channel over a given period and provides a full breakdown of the VAT on each sale group within the summary.
Sales are grouped by:
- Income Type - Sale or Carriage
- Payment Method - PayPal, Sage Pay etc
- Tax Code - Standard Rated, Zero Rated etc
So, for example, if you had both standard rated and zero rated sales, were taking payments using both PayPal and Sage Pay and were charging carriage to your sales, a summary would be broken down as follows:
|Income Type||Payment Method||Tax Code||Net||Tax||Gross|
This summary can then be entered into an accounts package manually or passed into the accounts package as a summary entry by Tradebox, if an accounts integration exists. You can also export the summary data to an Excel spreadsheet for further analysis.
All orders contained within the summary are marked as 'summarised' and the Tradebox summary number is added to the order. Once an order has been included in a summary it cannot be included in another summary. Every transaction contained within a summary can be viewed and/or exported in a CSV file.
VAT Calculation Method
VAT on summary entries can be calculated on either Item Prices or on Total Prices. This setting is established in Configuration > Preferences > Summary Entries. Different systems calculate VAT slightly differently where there are multiple items sold; there's no strict right or wrong answer whether a net/tax split should be calculated on the order total or per unit sold. Rounding of part-pence results can lead to discrepancies, so we offer two different calculation methods.
Item Price VAT calculation (default method) reflects the total combined VAT charged on each transaction within all transactions in the summary but may not reflect the exact VAT level ratio because of rounding on large volumes of data.
Total Price calculation will reflect the exact VAT level ratio of the combined transactions in the summary but may not reflect the the exact VAT charged on each transaction combined.
Creating a Summary
Before creating a summary, establish a VAT calculation method in Maintenance > Preferences > Summary Entries. To create a summary, go to the Summary Module and select New. This will generate the following prompt screen:
Choose a channel from the Sales Channel drop down menu and then choose the date range by choosing a date in both the Order Date From and Order Date To drop down fields. Then choose OK.
Tradebox will then generate a screen of all orders matching the submitted criteria that do NOT belong to another summary. This can take some time depending upon the volume of sales within the given range. By default, all orders in the range are are opted in to be summarised, although individual orders can be opted out of the summary by unticking the Select box next to each order. When you're happy to create a summary of the included orders, click on the Calculate Summary button. Again, this may take some time depending upon how many orders are within the range. This will create the following summary screen:
This screen contains all of the individual summary entries based upon Income Type (Sales or Carriage) Payment Method and Tax Code. The screen also displays the Net, Tax and Gross values for each entry. To create the summary, select the Mark as Summarised box. This action will write the Tradebox summary number to every order contained within the range, ensuring these orders cannot be contained in any future summary. When finished, a completion box will prompt you to acknowledge by clicking on OK.
Accessing and sharing Summary data
The Summaries module displays a single entry for each summary that has been created. Each summary has a summary reference number and a description that is made up of the:
- Ref Number
- Channel Name
- Date Range
The overview entry will also display:
- the total Net amount
- the total VAT amount
- the total Gross amount
- an indication of whether the entry has been posted to an accounts package
- the date the entry was posted to an accounts package
To drill into the summary information simply double click on the entry, or select it from the list and choose the View button.
The summary screen displays a full breakdown of each summarised entry. Every transaction within the summary can be sent to a CSV file by choosing the View Breakdown button. This will create a line in a CSV file for every transaction in every order contained in the summary and will display the following information:
- Order Date
- Channel Name
- Tradebox Order Number
- Marketplace Order Number
- Payment Method
- Tax Code
- Net Amount
- Tax Amount
- Gross Amount
This file can then be saved and shared.
If an accounts link has been set up in the channel and configured for summarised entries, this screen will also display a Post to Accounts button. When this is pressed the summary data will be passed to the accounts package that Tradebox is integrated with. The accounts package will write the transaction number back to Tradebox which will be stored against each summary line.