A Z Report is a report that gives detailed information about sales made using a cash register during a business day, the revenue earned, and the value added tax (VAT) collected. It is taken at the end of the business day and carries a sequential number.
In a sense, we can say it is the list of transactions that merchants process through their cash register POS devices that day.
Difference from the X Report
Two types of reports can be taken from cash registers:
- X Report: An interim report showing the status of sales up to that point in the day. Taking it does not close any records, and it can be taken as many times as desired during the day.
- Z Report: The report that closes the day. Once it is taken, the sales records for that day become final and the sequence number increases by one.
Why is the Z Report important?
The Z Report is the official record of a business's daily revenue and the VAT it has collected. The business transfers the information in its Z Reports to its accounting records. On new-generation cash registers, Z Report information is also transmitted electronically to the Revenue Administration.
Relationship with the POS batch (end of day)
On new-generation cash registers, the fiscal cash register and the POS are combined into a single device. On these devices, the Z Report closes the sales records on the cash register side, while the POS batch (end of day) ensures that card transactions are transmitted to the bank. The total of card sales must be consistent between the Z Report and the POS batch (end of day) report. This consistency shows that the business's card collections have been recorded correctly.
Retention obligation
Z Reports must be retained for the period specified in tax legislation. For reports transmitted electronically, it is also recommended that the business keep its own records in an orderly manner.
