You can gain more insight into your business by generating a convenient report to track invaluable Profit & Loss metrics.
This Report is only available if you are using MyTime’s POS.
To access the Profit & Loss Report: Dashboard > Reports > Company Reports > Profit & Loss
On the top of the page, you can filter by Locations, Staff, Completed Appointments or Only Closed Tickets and Date Range. You can also select multiple locations and staff members.
Once you've selected your desired filters, it will reflect in the generated report. You’ll get the total revenue, total expenses and net profit displayed for each day in the date range as well as the net totals on the bottom of the page.
Profit will reflect all sales generated and loss will reflect all costs the business incurred (refunds, credit card fees, commissions, wholesale cost of inventory, etc.). Net profit is calculated by deducting the business costs from total profit.
To see additional metrics, you can use blue arrow icons on the left hand side corresponding to that date.
On the top right of the report, you have the option to download the report as a CSV, PDF or print version.
|Detailed Revenue||Service Revenue||Gross Revenue|
|Services Discount||Total of discounts applied to services|
|Class / Event Revenue||Gross Class/Event purchases|
|Class / Event Discounts||Total of discounts applied to Class/Event|
|Products Revenue||Gross Product purchases|
|Product Discount||Total discounts applied to Products|
|Gift Card Revenue||Gross Gift Card purchases|
|Gift Card Discounts||Total discounts applied to Gift Cards|
|Package Revenue||Gross Package purchases|
|Package Discounts||Total discounts applied to Packages|
|Cancellation Fee Revenue||Gross Cancellation Fees|
|Refunds||Total issued to customer by Refund|
|Total Revenue||This is your Gross Revenue - Discounts and Refunds|
|Detailed Expenditures||Product Cost||Your costs for product used|
|Staff Commissions - Services||Commission based on Services|
|Staff Commissions - Products||Commission based on Products|
|Back Bar Fee||Amount billed to staff for Product usage|
|Prepaid Gift Card Expense||This is the amount of Gift Cards that were used.|
|Prepaid Package Expense||This is the amount per package redemption|
|Prepaid Membership Expense||This is the amount per Membership Redemption|
|MyTime Fees||Service Fees for MyTime software and subscribed features.|
|Credit Card Fees||Fees from Credit card processed through the day *|
|Total Expenses||This is all expenses + Back Bar fees|
|Net Profit||This is Total Revenue - Total Expenses|
*If you are using your own Credit Card Software, or are TSYS and receive a bill from them directly you will not see anything in this column.
For more information contact us at email@example.com or 888-423-1944.