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
There is always the fun option of 2 sets of GL codes. You flip flop back and forth each year to keep things completely separate. (been there and done that)
so for example this year show 1 for fiscal 2023 = 1101-01. Next year your code for show 1 fiscal 2024 would be 1201-01 (or something like that)
Tessitura never really handled deferred ticketing revenue very well. :-)
Having Odd and Even Fiscal Year codes is always helpful!
We have always had odd and even codes. And we also default to deferred revenue for tickets. As a (VERY) not finance person, though, my understanding is basic at best.