This guide outlines how to extract sales and inventory figures from the 3 systems to compare and ensure integrity across the platform for your Franchise.
Vital
Sales by month (Service)
Steps to take:
- Navigate to "Dashboard" > "Finance"
- Switch "Current month", "Last month" at top left
Report details:
- Revenue figure is inc. GST
Lightspeed
Sales and COGs by month (Service & Retail)
Steps to take:
- Navigate to "Reports" (graph icon) > "Sales reports"
- Update report options
- Report type: Sales channel
- Measure: Revenue
- Date range: Select month
Report details:
- Service = "pooltrackr" (ex. GST)
- Retail = "In-store" (ex. GST)
Inventory value at end of month
Steps to take
- Navigate to "Reports" (graph icon) > "Inventory reports"
- Update report options and press "Search"
- Report type: Outlet
- Measure: On-hand inventory
- Date range: Select month
Report details:
- Refer to "Totals" row (top)
- "Inventory cost" is the balance (ex. GST)
Xero
Sales and COGs by month (Service & Retail)
Steps to take:
- Navigate to "Accounting" > "Reports"
- Select "Tracking summary" under "Financial Performance"
Tip: click the star to the left and report will appear in "Accounting" drop down - Update report options
- From/To: Date range for report
- Account Groups: "Sales" or "Cost of Sales"
- Tracking Category: Outlet
Report details:
- Refer to Net Activity column
- Service = "Service Outlets" (ex. GST)
- Retail = "Retail Outlets" (ex. GST)
Inventory value at end of month
Steps to take
- Navigate to "Accounting" > "Balance Sheet"
- Update report options and press "Update"
- Date: Date for inventory balance
Report details:
- Refer to "Inventory" under "Current Assets" (ex. GST)
What is the cause of differences between figures in the systems?
Below are the common causes for differences in between the systems to assist in finding the cause. We also recommend familiarising with both the Essential Actions to Perform and Current System Limitations guides to assist.
Sales total differences
- Any voided invoices have been voided in each system - click here for details
- Quote deposit invoices being mapped to the incorrect outlet in Vital
Cost of Goods and Inventory balances differences
- Registers not being closed at end of day (retail and service registers). Lightspeed posts the COGs value and inventory balance changes to Xero only when your register is closed. Leaving it open for multiple days can result in differing values over a set period.
- Inventory adjustments (eg. stocktake or write-offs) need to be manually journaled into Xero. Click here for details