Records & reporting
What should a jewellery shop check before sending month-end reports?
Agree the reporting period and report type first, check unusual transactions, and send the figures with an explanation of outstanding items. An export is a starting point for review, rather than proof that every entry is correct.
Your accountant asks for September’s records. One colleague exports purchases, another exports orders and both use a different date range. The files may look professional, but the handover is already difficult to reconcile. A repeatable monthly routine helps make the numbers understandable.
Define what the report includes
Agree with your accountant which records they need and what the selected dates represent. A sale, a payment update and a purchase can happen on different days. If an order receives another payment later, a report based on payment activity may include it in a different period from the original sale.
Use consistently. Give the file a clear name with the period and report type, and keep the selection details with it. Save a copy of what was sent so the team can answer questions about the same version.
- Confirm the start and end dates, including how boundary dates are treated.
- Identify whether the file covers purchases, sales or combined activity.
- Agree who checks the file and who sends the final version.
Check obvious exceptions before the handover: missing purchase prices, unexpected payment methods, duplicate entries and orders with an outstanding balance. Ask your accountant how corrections should be handled instead of changing a historic transaction simply to make a total look right.
See it in Stockbox
Compare the buy-in and order exports with the Master Export. Notice the explanation of records with sales or payment updates in the selected period.
Explain the unusual transactions
The brings several parts of the transaction together, but a combined report still needs interpretation. A part exchange, consignment or later payment can raise a question that a plain total does not answer. Include the record reference and a short explanation where necessary.
For example, if a customer paid a deposit in one month and collected in another, describe the sequence when your accountant asks about it. Avoid treating every order amount as cash received. Keep supporting purchase documents and payment evidence accessible through your agreed process.
Margin-scheme and tax treatment should be checked with your accountant using the current rules and the actual transaction. A software field or exported calculation cannot establish eligibility on its own. Your useful contribution is a complete, accurate record of what happened.
A cleaner monthly handover
- One agreed period and a clearly named final export.
- A short list of unresolved entries with their references.
- The supporting documents your accountant has requested.
- A named colleague who can answer follow-up questions.
Keep the routine short enough to repeat every month. Investigating gaps while the transaction is still familiar is usually easier than reconstructing them at year end, particularly when several staff members handled the same piece.
