Understanding the Cash Received Tax Report

Modified on Fri, 23 Sep, 2022 at 6:38 PM

If you account for tax on a cash received basis, you are liable to pay tax when you receive payment from a client. The "Tax Report Cash Received" calculates tax liability based on the payment date.

Tip: "Cash Received" accounts for your Payments from clients. If you pay different taxes in different areas, you can filter this report by Client Area.

Note: This is a "cash in the door" report like the Payments Report, but it also accounts for credits.  For example, if you used a credit in December 2020, then applied it to an invoice in January 2021, the credit is "realized" in January 2021 and would show in a Cash Received Report for that month.

How Do I View, Filter & Export the Tax Report for Cash Received?

Navigation: Reports > Revenue and Tax > Cash Received

Select "Cash Received" from the first Dropdown.
Select a custom date range or use a quick report button, i.e. "This Week."
- To view the previous timeframe click the "<" button.
- To view the next timeframe click the ">" button.
(Optional) Add a filter, click "All Client Areas" drop-down and select an Area.
Click "Reload" to see Cash Received within the date range specified.
(Optional) Select "Download CSV" to Export the data displayed.

Run the revenue & tax cash received report with your pet sitting software

The Revenue & Tax: Cash Received Report Explained:
Date: Date the invoice was created.
Payment Type: Payment method such as cash, check, Venmo, bank transfer, etc., or automatically if received via Stripe.
Details: Reference entered in receipt "Details," defaults to "Payment Received."
Client: Last Name, First Name.  Click the name to access the Client Account.  Click "Back" to return to this report.
Ref: Schedule Ref as entered in the Client Account, usually the pet name(s).
Invoice No.: Invoice number (created automatically).
Gross: Gross invoice amount.
Net: If you have a tax amount set, this figure shows the gross amount, less tax.
Tax: Tax amount calculated at the percentage you set in Tax Settings.
Rate (%): Tax rate you have set in Tax Settings.