What is a Z-Reading?
Z-Reading report is also known as the End-of-Day report. Unlike the X-Reading report, the Z-Reading report is cumulative and has never been reset since the first day of operation.
What are the important components of a Z-Reading report and how to read it?
Report Date | The date on which the Z-Reading was extracted. |
Report Time | The moment at which the Z-Reading was extracted. |
Store Name | The name of the merchant's store from which the Z-Reading was extracted. |
VAT Reg TIN | Taxpayer Identification Number (TIN) issued to businesses or individuals that are registered for Value Added Tax (VAT). |
Beginning OR | The initial Official Receipt (OR) number used for transactions on a specific date. This number marks the starting point for the sequential issuance of official receipts for the day. |
Ending OR | Indicates the concluding transaction or sale documented for a particular date or reporting period, signifying the ultimate Official Receipt (OR) number utilized on that specific day. |
Beginning Balance | The starting amount of cash or funds recorded in POS terminal at the beginning of a specific business period. It represents the amount of money available in the cash register before any transactions take place. |
Ending Balance | The final amount of cash or funds in a cash register or point-of-sale (POS) system after a specific business period, such as a shift or a day. It represents the remaining funds after all the transactions, sales, and adjustments have been accounted for during that particular period. |
How to Calculate Ending Balance? (Please see the sample image above)
Beginning Balance + Net Amount = Ending Balance
₱6774425.09 + ₱104092.78 = ₱6878517.87
Net Amount | The total amount of sales or transactions minus any applicable deductions or returns. |
VATable Sales | The portion of sales transactions that are subject to Value Added Tax (VAT). |
Value Added Tax is a consumption tax imposed on the sale of goods and services, and not all sales may be subject to VAT. Some items or services may be exempt or zero-rated.
VAT Amount | The total sum of Value Added Tax (VAT) collected on VATable Sales during a specific business period. |
VAT Exempt Sales | The portion of sales transactions that are exempt from Value Added Tax (VAT). |
Zero Rated Sales | The portion of sales transactions that are subject to a zero rate of Value Added Tax (VAT). |
While some sales are exempted from VAT, zero-rated sales are different in that they are taxable at a 0% rate, meaning that although the transaction is subject to VAT, the rate applied is zero.
SC Discount | The total discounts are given to senior citizens on eligible goods and services as part of social benefits or government regulations. |
PWD Discount | The total discounts given to Persons with Disabilities (PWD) on eligible goods and services. |
Other Discount | The total custom discounts are given to customers. |
Voided Amount | The total amount of transactions that have been voided or canceled during a specific business period. |