Expired Tickets - Removing from Deferred Revenue

Thank you, Dot!  I will take a look at this utility with those in my department who are more knowledgeable on the functions of Tessitura.  I appreciate the suggestion!!

Mmm…   Have you tried performance seat release?  You would need to create a list to limit who you are releasing and perhaps create a revenue only on-account payment method that is restricted only to you so it is not accidentally used in a transaction after the ‘write-off’.

I got the idea from Anna Wessely in this post:  http://www.tessituranetwork.com/Community/forums/t/12880.aspx

No- they would be expiring on different days, depending on the date of the initial purchase of the online ticket.  So they are constantly expiring after 90 days.  But, we would only record the recognition of this revenue on a monthly basis in the GL.

Ok.  Do they all expire on the same day or do you have to know which tickets are past the 90 days?

From: Tessitura Finance Forum [mailto:forums-finance@tessituranetwork.com] On Behalf Of Amy Harris
Sent: Tuesday, May 31, 2016 11:51 AM
To: Dot Krebs
Subject: RE: [Tessitura Finance Forum] Expired Tickets - Removing from Deferred Revenue

Hi Dot,

From what I know, all tickets that we sell online initially go to the deferred revenue account.  When the ticket is initially purchased online, it is purchased for a performance slated for 90 days out from the purchase date. Then, as patrons redeem their tickets they are returned and resold as a performance for the day they actually visit the museum.  This return process removes the ticket from deferred revenue and puts it into revenue.

That said, at the end of the 90 days, whichever tickets remain in the deferred account would be the ones that were never redeemed (returned and resold.)  We would need to move these expired tickets to revenue for recognition purposes.

Amy

Thank you, Dot!  I will take a look at this utility with those in my department who are more knowledgeable on the functions of Tessitura.  I appreciate the suggestion!!

Mmm…   Have you tried performance seat release?  You would need to create a list to limit who you are releasing and perhaps create a revenue only on-account payment method that is restricted only to you so it is not accidentally used in a transaction after the ‘write-off’.

I got the idea from Anna Wessely in this post:  http://www.tessituranetwork.com/Community/forums/t/12880.aspx

No- they would be expiring on different days, depending on the date of the initial purchase of the online ticket.  So they are constantly expiring after 90 days.  But, we would only record the recognition of this revenue on a monthly basis in the GL.

Ok.  Do they all expire on the same day or do you have to know which tickets are past the 90 days?

From: Tessitura Finance Forum [mailto:forums-finance@tessituranetwork.com] On Behalf Of Amy Harris
Sent: Tuesday, May 31, 2016 11:51 AM
To: Dot Krebs
Subject: RE: [Tessitura Finance Forum] Expired Tickets - Removing from Deferred Revenue

Hi Dot,

From what I know, all tickets that we sell online initially go to the deferred revenue account.  When the ticket is initially purchased online, it is purchased for a performance slated for 90 days out from the purchase date. Then, as patrons redeem their tickets they are returned and resold as a performance for the day they actually visit the museum.  This return process removes the ticket from deferred revenue and puts it into revenue.

That said, at the end of the 90 days, whichever tickets remain in the deferred account would be the ones that were never redeemed (returned and resold.)  We would need to move these expired tickets to revenue for recognition purposes.

Amy