Reporting and Analytics Glossary

Browse this list to get a deeper understanding of terminology used in business reporting. Check out the use cases to see how they work within day to day operations.

A   B   C   D   E   F   G   H   I   J   K   L   M   N   O   P   Q   R   S   T   U   V   W   XYZ  

A

Asset Item
    A product or service provided in exchange for payment.
    Examples: Coffee, sandwich, bracelet or notebook to be sold at the register.
    ShopKeep Reporting: Asset items are included in sales calculations and reports.
    See Also: Liability Item, Liabilities and Redemptions

Average Items Per Sale
    The average number of items in a sale including liability items.
    Example: Two apples and one orange are sold, the number of items in the sale is three.
    Calculation: (Total quantity of items sold) / (number of sales).

Average Sale Value
    The average dollar amount for a single sale transaction, including discounts but not including liability sales.
    Use Case: Understand the dollar amount collected on a typical sale.
    Calculation: (Total transactions amount – discounts) / (total transaction count).

C

Costs (also COGS or Net COGS)
    The sum of the cost of items sold, including both asset and liability items, not including raw goods. Also     known as Cost of Goods Sold.
    Use Case: Understand how much profit a given sale will generate.
    Calculation: (Line item costs * quantity of sales) – (line item costs * quantity of returns)

Current Unit Cost
    The current amount the merchant pays for an asset item or raw good. This value depends on the costing     method being used, Last Cost or Weighted Average Cost.
    Example: A merchant pays $1 for an item to add to inventory, at this time.

Current Unit Price
    The current amount a merchant charges for a single unit of a given item.
    Use Case: A customer pays $1 for an item at this time.

D

Discount
    A deduction from the usual price of an item or transaction.
    Use case: Adjustment pricing for special offers to encourage customer purchases or reward loyalty.

E

Effective Unit Cost
    The derived cost of an item based on historical sales.
    Example: An item is sold at a $10 cost. The item is sold again later at a cost of $20. The effective unit cost of     the item for this date range is $15.
    Calculation: (Total net cost / net quantity sold).

Effective Unit Price
    The derived price of an item based on historical sales.
    Example: A single unit of an inventory item is sold at a price of $10. The item is repriced at $20 and another     single unit is sold. The effective unit price of the item for this date range is $15.
    Calculation: (Gross sales / quantity sold).

G

Gratuity
    A dollar amount given by the customer over the total price paid for goods or services intended for the     server or person who performed the service, also known as a tip.
    ShopKeep Reporting: Total gratuity amount collected on credit card transactions.

Gross Margin
    The percentage of revenue that remains from each sale after accounting for costs and discounts.
    Use Case: Understand the percentage of sales that are profit.
    Calculation: (Net sales – costs) / (net sales).

Gross Profit
    Total profit after deducting returns, discounts, and cost of goods.
    Use Case: Understand the dollar amount a merchant gets to keep for a given selling period.
    Calculation: (Net sales) – (costs).

Gross Sales
    Total sales of asset items, not adjusted for returns and discounts.
    Use Case: Use as a raw, top line sales metric.
    Calculation: (Price of asset items) * (quantity sold).

L

Liability Item
    A business’ financial debt or obligation to customers, such as gift cards or security deposits. These items are     not subject to tax. Sales of liability items are not included in gross/net sales reports, although the tenders     used to pay for them will be included in the total tenders for the period. The new liabilities that are created     during a sale are reported as new liabilities. Upon redemption, net liabilities are reduced. If the liability was     a gift card, the sales of the items purchased with the gift card will be reported in gross/net sales reports.
    Example: A merchant had a single transaction, selling a $100 gift card for cash. Net Sales: $0, New     Liabilities: $100, Cash Tenders: $100. Later, a customer comes in and uses the gift card to buy a $50 shirt.     Net Sales: $50, Net Liabilities: $50 ($100 minus $50 in redeemed gift card liabilities), Gift Card Tenders: $50.

N

Net
    The amount remaining after accounting for expenses or deductions such as returns or discounts.

Net Sales
    Sales revenue after subtractions for discounts and returns.
    Use Case: Understand how much revenue was brought in during a given period.
    Calculation: (Total sales amount) – (total discounts amount) – (total returns amount).

Net Tendered
    Total amount tendered after subtractions for returns.
    Use Case: Understand the final amount received of each tender.
    Calculation: (Sales amount tendered) – (Returns amount tendered).

Non-taxable Sales
    The total sales amount not subject to tax.
    Use Case: Understand item sales amounts not subject to tax, typically for tax reporting purposes.

P

Pay-ins
    Cash that is added to a cash drawer during a shift.
    Example: Additional cash added to the drawer to provide customers with change.

Payouts
    Cash that is removed from a cash drawer during a shift.
    Use Case: Cash removed from drawer for gratuity of staff, inventory purchases, etc.

Q

Quantity Returned
    A count of returned asset items.
    ShopKeep Reporting: Total quantity of returned items or sets of items.

Quantity Sold
    A count of sold asset items.
    ShopKeep Reporting: Total quantity of sold items or sets of items.

S

Sales or Returns Amount
    Total currency amount received from sales or returns of asset items.
    Use Case: Analyze top line sales and returns.
    Calculation: (Quantity sold * price).

Sales or Returns Count
    Total number of sale or return transactions.
    Use Case: Understand how many sales or returns transactions were completed.

Sales Tax
    An estimate of total tax collected during transactions.
    Calculation: (Sum of taxes on sales) – (sum of taxes on returns).

T

Taxable Sales
    The amount of sales that are subject to sales tax.
    Calculation: (Sum of taxable sales amount) – (sum of taxes on return amounts).

Total Tendered
    Total amount of tender provided for a transaction.
    Example: A customer purchases a sandwich for $5, pays with a $20 dollar bill, and receives $15 in change.     The total tendered amount of this transaction is $5.
    Calculation: (Sales amount tendered) – (returns amount tendered).

Transaction Count
    Total number of sales and returns for a given period of time.
    Use Case: Understand how many transactions are run to adjust staffing or business hours.

U

Unit Cost
    The amount a merchant pays for single unit of an item.
    Example: A merchant purchases an item to add to inventory for $100.
    See also: Current Unit Cost, Effective Unit Cost

Unit Price
    The amount a customer pays for a single item.
    Example: The price a customer pays for an item is $100.


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