Finance friends,
We are interested in utilizing the new "pay what you wish" functionality and are trying to figure out the finance-side of things.
If you are doing "pay what you wish", what do you consider the "fair market value" of the ticket? Do you consider it all earned revenue or is a certain amount contributed revenue?
In our case, we want to set a required base price and then allow for patrons to pay more if they would like; and, ideally we want it to all be earned revenue.
Also very curious! Would love if any organizations have had the opportunity to utilize the editable pricing and what they consider earned vs. contributed revenue.
We have used editable pricing for a pay what you will event. We set the price at $5 and then it could be edited to whatever the patron wanted to pay. Because the price type we used is tied to one GL (we didn't use layers) all of the revenue was earned income. I suppose you could set it up with layers that had different GL's if you wanted a portion to be contributed income as opposed to earned income.