Hi everyone,
We have a question from our Accounting department about potentially needing to defer the revenue from memberships that are purchased this fiscal year, but would "normally" have been purchased next fiscal. This would come down to deferring the revenue if the person already has a membership that expires next fiscal year.
Has anyway come up with a way to do this for non-pledge memberships? I've just been asked to look into options. We need something that will do this automatically, and for gifts sold in both the contributions and the ticketing channels. Our volume is too high for us to manually change the ticketing gifts on the back end.
Thanks in advance for any thoughts!
Beth
Gifts/Cash gifts can be deferred (restricted) just like a pledge can be.
It sounds like the issue is that members has paid for 2 memberships in a given year and that is why you want to restrict it to the future year. If the gifts are small I’m not certain if the early renewal really should be a problem. This also could be a one time issue that will not repeat next year so Finance might want to consider this.
It is possible to set up a campaign for the next fiscal year and set the date so any gift that comes in would be deferred but that Campaign would have to be selected to trigger the action.
I am not aware of any procedure that will provide an update to defer a list of contributions – someone might have developed this though.
There could be another process to consider if your Finance Dept insists these membership – consider putting the money On-account so it can be reviewed. Procedures can written to move it to membership and select next year’s campaign.
But honestly I would want the Finance dept to determine what memberships are really problematic and what amount/level is considered significant.
From: Beth Varro [mailto:bounce-elizabethvarro6946@tessituranetwork.com] Sent: Wednesday, September 21, 2016 5:44 PM To: McKinley, Leslie <LMcKinley@nycitycenter.org> Subject: [Tessitura Memberships] Deferring membership (non-pledge) revenue
This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Memberships Forum. You may reply to this message to post to the Memberships forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!
From: "Leslie McKinley" <bounce-lesliemckinley4321@tessituranetwork.com>To: evarro@smm.orgSent: Wednesday, September 21, 2016 5:13:48 PMSubject: RE: [Tessitura Memberships] Deferring membership (non-pledge) revenue
Gifts/Cash gifts can be deferred (restricted) just like a pledge can be. It sounds like the issue is that members has paid for 2 memberships in a given year and that is why you want to restrict it to the future year. If the gifts are small I’m not certain if the early renewal really should be a problem. This also could be a one time issue that will not repeat next year so Finance might want to consider this. It is possible to set up a campaign for the next fiscal year and set the date so any gift that comes in would be deferred but that Campaign would have to be selected to trigger the action. I am not aware of any procedure that will provide an update to defer a list of contributions – someone might have developed this though. There could be another process to consider if your Finance Dept insists these membership – consider putting the money On-account so it can be reviewed. Procedures can written to move it to membership and select next year’s campaign. But honestly I would want the Finance dept to determine what memberships are really problematic and what amount/level is considered significant. From: Beth Varro [mailto:bounce-elizabethvarro6946@tessituranetwork.com] Sent: Wednesday, September 21, 2016 5:44 PM To: McKinley, Leslie <LMcKinley@nycitycenter.org> Subject: [Tessitura Memberships] Deferring membership (non-pledge) revenue Hi everyone, We have a question from our Accounting department about potentially needing to defer the revenue from memberships that are purchased this fiscal year, but would "normally" have been purchased next fiscal. This would come down to deferring the revenue if the person already has a membership that expires next fiscal year. Has anyway come up with a way to do this for non-pledge memberships? I've just been asked to look into options. We need something that will do this automatically, and for gifts sold in both the contributions and the ticketing channels. Our volume is too high for us to manually change the ticketing gifts on the back end. Thanks in advance for any thoughts! Beth This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Memberships Forum. You may reply to this message to post to the Memberships forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you! Spam Not spam Forget previous vote This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Memberships Forum. You may reply to this message to post to the Memberships forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!