Profit & Loss Question (Service Industry)

Discussion in 'General Accountancy Discussion' started by robhayfj, Mar 20, 2017.

  1. robhayfj

    robhayfj

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    Hey Guys, I'm having a bit of trouble creating a monthly Profit & Loss Statement for my business in the tourism industry.

    Basically, we have various revenue streams; cash sales, credit card sales, online, and a VOUCHER BASED SYSTEM!

    In the voucher based system, tourists from multiple resorts are able to book & pay for our tours at a 3rd party retail tour desk. We don't actually receive our payments from these tour desks for 60 days (which, in a seasonal industry, can be a big nuisance for cash-flow).

    I'd just like to know whether I should put these voucher sales into my SALES column, or only place them into my profit & loss statement for the month that I actually receive the money?

    I hope that you guys are able to understand my question! It's confusing me lately because I also have to put in my cost of sales & operation costs etc. etc. and it wont make sense to have my sales for a particular month not match up with our variable costs and what not.

    Cheers!
     
    robhayfj, Mar 20, 2017
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  2. robhayfj

    Fidget VIP Member

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    Treat them the same as the rest of your sales.
     
    Fidget, Mar 22, 2017
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