Liability Analysis Report

Why Should I Use The Liability Analysis Report?

The primary purpose of the Liability Analysis Report is to display the sum of all payments taken, prepaid liabilities, and deposit liabilities.

Related Reports

What data is The Liability Analysis Report going to return?

  • Deposit liabilities

  • Prepaid liabilities

  • Canceled order details

  • Tips received

  • Other payments taken

  • The sum of all payments taken and refunds issued within the search date range.

Definition of terms

  • Deposit Liability
    Deposit liability is listed based on a Event Start Date for Events and Online Booking orders.

  • Opening Liability:
    Any payment that is taken before the Event Start Date date of the party regardless if it is marked as deposit.

  • New Liability:
    Any payment taken for an event whose Event Start Date falls after the report starting search date and includes order status of open, closed, quote, and pending review. This total is added to the opening liability.

  • New - Cancelled:
    Any payment taken for an event whose Event Start Date falls after the report starting search date and includes canceled orders only. This total is added to the opening liability.

  • Executed:
    The sum of all opening or new liability where the Event Start Date falls within the search date range and includes order status of open, closed, quote, and pending review. This total is subtracted from the opening liability.

  • Executed - Cancelled:
    The sum of all opening or new liability that is executed (has their event start date) within the search date range for orders with a status of canceled only. This total is subtracted from the opening liability.

  • Previously Executed:
    Any payment taken for an event whose Event Start Date falls before the report starting search date and includes any order status (open, closed, quote, pending review, and canceled). This total is not included in the total deposits liability and is displayed for reference only.

  • Total Deposit Liability:
    The new calculated outstanding deposit liability for your facility as of the ending search date range.

Prepaid Liability:

Prepaid liability displays all outstanding prepaid item liabilities for the search date range, regardless of payments made against an order. Orders of any status (open, closed, quote, pending review, and canceled) are included and based on the Transaction Date for Executed (Redeemed) liabilities, and Order Date for Point of Sale and Store Orders, and Execution Start Date for Events and Online Booking Orders.

  • Opening Prepaid Liability:
    The sum of all prepaid sales minus all payments made with a prepaid payment type that occurred prior to the starting search date range.

  • New:
    Any product sold within the search date range that is of prepaid type. This total is added to the opening prepaid liability.

  • Redeemed:
    Any payments made within the search date range with a prepaid payment type. This total is subtracted from the opening prepaid liability.

  • Total Prepaid Liability:
    The new calculated outstanding prepaid liability for your facility as of the ending search date range.

Canceled Orders Detail
Displays all canceled order details with a payment that falls within the search date range.

Tips Detail
Displays a sum of all tips attached to orders. Tips are included for Events and Online Booking Orders by Execution Date, and Point of Sale and Store Orders by Order Date. Tip sums are broken into Closed Order Tips, Canceled Order Tips, and All Other Order Tips which includes Open, Quote and Pending Review. The total tips his summed up the end.

Other Payments Within Range
Displays all transactions made within the search date range specified that are not included elsewhere on this report but would be included in the Closeout Reports. An example of this payment a late final payment on an event that executed before the search date range. Many times the total of this subsection will equal the Previously Executed Liability from above.

Payments Taken
Displays a sum of all received payments broken down into Deposit Type and Final Type, as well as Issued Transactions including Refunds and Change Due, followed by the Total Payments Received sum.

Report Summary
The reports summary takes the sales total by accrual method:

  • Adds new liabilities
  • Tips and other payments within range
  • Then subtracts any executed liability
  • Invoice balances - these totals come directly from the Invoice Balance Report
  • Total payments taken
  • Then reflects any report discrepancy, and provides a calculated report balance which should display $0.00 if balanced.

Report Discrepancy
Due to the way order totals are calculated versus individual line items, there may be a slight discrepancy because of the tax rounding and the way the accrual reports for calculated. This discrepancy is accounted for in the report and automatically removed from the equation.

Report Screenshot

 

 

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