Reporting Questions?

A few questions on Reports:

How does the Revenue report calculate the revenue?  It appears to actually be based on Sales date rather than Start or End date.  From an accounting perspective, the more typical approach is that revenue is "earned" as of the completion date/payment date. And I assume on the Dashboard Revenue report it is the same as the Revenue Report that we can run? Sales based on a "Date Created" make sense but not for Revenue reports. Cash goes into our bank account at the End of each Booking, not when the booking was made.

Some of the reports allow selection of multiple Categories or Items...Others you can only select 1 category or 1 item.  There seems to be no logic as to why they are different.  From a user perspective is is much more useful to be able to select multiple Items or Categories or User or whatever is on the pull down.

We have several custom Statuses.  E.G Quote as we have many clients ask us to quote on longer stays or special circumstances.  Unfortunately there is no way to turn these off from the Revenue and Sales reports which leads to incorrect financial reporting. As well we have multiple Cancellation Statuses  so we can track why "No Show", "Late Payment", "Late Cancel", etc. but there is no way to make them equivalent to your built in "Cancelled" status so all of these show up in revenue and other reports also.

I need a report of Revenue by Category by Month.  What built in report can I run and then export the data to get this information to massage in Excel? Then I can do month over month trending graphs by category.

Thanks.

Comments

  • Hi TurismoCaNica,

    Thanks for the questions.

    To clarify, the revenue report is the report of actual earned income. The numbers here would look similar to the transactions report. With that said, this means that a start date and end date of a booking under revenue report is not as important because the report only sees the days payment was made. This is setup this way for other businesses who would like to see their income even before a booking is finished. Some businesses take booking a year in advance and would like to see the revenue made for those bookings in the future. If the revenue were to take the numbers based on the end date, then they will never be able to use the revenue report because it would show 0 dollars. We had to compromise on what revenue means due to the many different ways this could be interpreted.

    Some reports do not need to know items, start dates, end dates like those of the Revenue report which is why some reports lack this functionality. If you have any suggestions in any reports that is missing a search functionality, let us know and we'd be happy to make a feature request.

    That is a good point, changing the behaviour of this would be a great addition to Checkfront. I'll be sure to add this as a feature request as well. 

    The best place to do complex reporting would be through Booking -> Index. You can do multiple search functionalities and export it through there as well.

    Cheers,
    1. Sales a year in advance are just that..."Sales" unless you take a deposit.  You don't actually Earn the revenue until either the end of the booking or when the payment is made.  A good chat to have with an Accountant. You have a Sales report which is perfect for showing what I actually sold this month (could be reservations for the next 12 months or more like you said), but the Revenue report should be when you earn the revenue which is usually realized at the end of the booking.  Depending on your cancellation policies, any Deposits you take would have to be carried as a "Short Term Liability" that would go away when final payment was made.  If all reservations were cancelled, you would have to pay back most of those deposits (hence the Short Term Liability).
    2. Examples...Transaction Report allows selection via checkbox for multiple categories (perfect).  But the Sales report only allows a single selection for Categories (not good...and inconsistent). So I cannot run a Sales report for all my Categories that are related (e.g. Restaurant and Bar). Also, none of the other Search parameters on any of the reports allow selecting of multiple items.
    3. Thanks.
    4. I can't get all the data from the Booking Index. There is no Category information there. I also want to know how it was paid so we know how much is Cash, Credit card, Bank Deposit, Paypal, etc. and none of that is on the Booking Index. The Item report does not show Categories and the Category report does not have any sub-total capability.
    Thanks.



  • Hello,

    Thanks for your response!

    1. It's possible that this point is already understood, but I just want to ensure that we are on the same page. The Revenue report does reflect the money that was actually collected from the customer for each month. It doesn't go by when the bookings start or end, but rather when the transaction was made. So if you do not collect the funds from the customer until the end of their booking, then that is when the transaction would be dated, and that is when the income would be displayed on the revenue report.

    2. I've submitted a feature request on your behalf for the ability to search by multiple categories on the Sales report, and also to be able to search for multiple items on any of the reports.

    4. The booking index does not have a category column as bookings can have items from multiple categories. However, you can use filter by category and select only the categories that you want.

    If you want to be able to see a report that lists the actual payments received and what the payment method was, I would recommend using the Transactions report (Reports > Transactions). Here you can filter by categories and items, see the payment method, transaction amount, and a total for the transactions displayed at the bottom of the screen.

    I hope that this helps! Feel free to let us know if you have any other questions.

    Best regards,

    Kaela
    Checkfront Support Team
  • So I need to make one more run at the Revenue Report side of this.  Somehow, we need to distinguish between what I call Revenue...100% cash in the bank that will never be lost/refunded/whatever. Because of the political situation here in Nicaragua, we have refunded over $2,000 in Deposits within the last week.  So much for Revenue.  All those REVENUE reports are now completely invalid.  Just because we collect a Deposit from a client, that does not ensure that it stays permanently as revenue. You are fundamentally drawing no distinction between your Sales and Revenue reports. Sales are wishywashy ify maybe. The Transaction report can show how much money has been collected/refunded on any give day/week/month.  But we still need a proper REVENUE report that is based on true completion of a sale/booking...meaning the client showed up and we are not giving that money back. We also only take deposits on about 20% of our sales. We hold CC info from phone reservations and from Expedia and Booking.com but we rarely charge a deposit unless we suspect the client is not on the up and up and need to test the CC.

    I can run your Sales report to see for any time period what I have "potentially" sold.
    I can run a Transaction Report to see what the cash flow (payments/refunds) have been in the past.
    But I still can't run a Revenue report to show what I "EARNED" based on completed sales/bookings/reservations.

    Looking at the "Revenue" report or the Dashboard item for a given month means nothing because I know that I might have to give 20-50% of that back in refunds
  • edited August 2018
    I need exactly this report too. Desperately. None of the built-in reports do anything useful for my business. It's almost as though whoever decided on the built in reports has no idea of the data an actual business needs.

    I really just need the one report showing revenue based on START DATE instead of BOOKING DATE. Can we just get a custom report builder?
  • My company also needs this report.  The deposits on sales are tracked on our Balance Sheet as a liability called "Advance Deposits", because potentially we would have to refund this money if the customer cancels timely.  I would also like to see Tax information on the Transaction report like it is on the Sales report.  Current reports are cumbersome and not very useful for what we really need.
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