Hi All,
I am from the Arts Centre Melbourne and I have an accounting issue with regard to recognizing membership income. Presently, our members pay in advance for 1 year or two-year memberships and the income is initially transferred to our accounting system which USI. First, the total income is recorded under prepaid income in the Balance sheet. Next, the membership income is released monthly to Profit & Loss to recognize the monthly portion of the income. There is lot of manual work involved to identify the monthly release amount and generating the journal each month to recognize membership income. I am wondering whether any other organization that use Tessitura has an efficient way to recognize membership fees monthly. I would be grateful if anyone can help with this matter.