Revenue Report/Sales Report
Revenue Report/ Sales report is an analytical tool that provides insights into the sales operations of a business. The report analyses and gives a snapshot of the trend in the sales over a particular period. Comparing such values with respect to the same period in a previous year helps management to strategize the operations. These reports are either used for internal purpose for management information or for external requirements like registration with any relevant authority or renewal of contracts, that includes lease agreement with mall management, property owner.
Who needs revenue reports?
Malls in UAE normally ask for the revenue reports for understanding the performance of the shops. Such close observation enables them to understand the required policy changes with a tenant. Shops which show a progressive revenue or performance are charged a percentage of their profit or sometimes a hike in the rent by the mall management.
Which all malls generally require revenue reports?
Properties of Majid Al Futtaim covering around 29 shopping malls across UAE including the City Centers, Mall of the Emirates, My City Centre.
MERAAS, a leading property developer who manages various projects include Blue Waters, City Walk, Jumeira Bay, Lamer, The Beach & Pearl Jumeirah.
EMAAR Properties – One of the most admired real estate developers in the region. Retails in Dubai Mall, Dubai Hills Mall, Marina Mall, GOLD & DIAMOND PARK, SOUK AL BAHAR, THE RANCHES SOUK, in ARABIAN RANCHES III and retails operating in any Emaar properties require to submit the Sales report to the management.
Dubai International Financial Centre, who owns almost all of the properties of DIFC, also requires all its occupants to produce a revenue report. All the outlets in DIFC including shops, restaurants and other businesses are covered for the purpose.
Emirates Post is the state owned postal department that regulates all the courier companies in UAE. All the courier companies need to submit Sales report/revenue report to Emirates Post. Generally, it should be submitted quarterly.
Nakheel Properties Nakheel Mall, Dragon Mart 1 & Dragon Mart2, Nakheel Pavilions & other properties of Nakheel needs to submit the Sales report to the Nakheel management.
Dalma Mall, Al Wahda Mall, Marina Mall – Abu Dhabi, The Pointe, Al Ghurair Mall, WTC Mall Abu Dhabi, Jimmi Mall, Box Park Dubai & Al Dar Communities also accepts Sales Reports issued by Elevate Auditing.
The above list only includes the major developers who insist on a revenue report as part of their mall management policies. As such this list is not exhaustive.
We are approved Auditors/Certifiers by all the major developers/mall management in UAE to issue the revenue report/sales report.
Revenue Report Process:
We normally start by verifying the following documents to validate the accuracy of sales during a particular period:
- POS report from the POS Machine.
- Monthly MIS Reports.
- For Cash Sales, verifying the cash registers and the subsequent deposits to bank.
- For sales paid via Card, bank statements/the payment gateway reports (Network International, Amex).
- Sample Invoices.
- VAT returns filed with Federal Tax Authority.
- Such other documents as required on a client-to-client basis.
Further to our satisfactory verification, reports are issued summarizing the sales activities of the business for the relevant period.
Connect with our team to get more information and to assist you with this service.