Hi Folks!
Had a conversation with our accounting manager and our box office manager this morning as we get ready for our up coming season build and selling season tickets. I wanted to check in here to see how other orgs handle their deferred revenue. We will start our selling of our Subscriptions in April, but our fiscal doesn't start until July 1. Currently how we handle deferred revenue is that until our fiscal switches over, everything coming though on the GL summary reports that is coded to the next fiscal our Accounting Manager moves manually in Sage to a deferred revenue GL, but we have everything moving through Tessitura into the correct GL's for subscriptions, single tickets, etc.
Just wondering how other people handle this and if you have a more fun, less manually way!
Thanks,
Nicki
Hi Nicki
KWS has separate Deferred Revenue GL codes, so we set up the Season with the Deferred codes, then switch to the regular ones from the start of the financial year in August.
Do you have two sets of price types (one for deferred, one for regular?). I came into an org that changed gl codes on price types and it wasn't fun trying to reconcile. We had people who bought under deferred, but then returned on the price type with the new gl assigned.