Hello,
We are looking for ways to reconcile funds from On-Account. We use On-Account for returns and exchanges and if guests aren't able to visit our museum on a specific day. We put funds On-Account until they use it or for 6 months and then at the end of those 6 months we want to take the funds off. Currently we are treating it as deferred revenue until either the guest uses the money on account or it is recognized at the end of the 6 months.
My question is how are other Tessitura users and finance teams recognizing that On-account money when you zero the account out? Are you putting it as a donation or creating a "product" and zeroing it out by purchasing it? Just looking for some smart ways that it can be recognized by our accounting team as well as ways to zero that money out that would make sense for finance as well.
Thanks,
Zac Melcher
Museum of the Bible