Glossary Of Terms: Accounting Report

Here are commonly used terms from your weekly accounting statement with definitions

Ending Ledger Balance: Any previous charges minus incoming activity of charges and credits minus payment that has been made on the last activity report. Basically, your ending balance for the period. 

Remit Sales: Sales that CCS collected money on your behalf. Typically credit card charges that we processed for you through the retail website. 

Non-Remit Sales: Sales that were paid for by a method that is not collected by CCS. Typically this is gift certificates or credits so they count toward the sale, but you should have collected the money directly from the customer. 

QPDeduct: A payment that you have made to CCS.

Ledger: An accounting book of entry in whish business transactions are recorded. Think of it as a record of tabulation. 

(###): Parenthesis around a number indicates that it is a negative number.

Margin: Sales minus cost of sales.