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
I have worked with it in two ways -
1- All revenue goes to deferred and then after each show a revenue report is run for Finance to do the Journal entry for production income.
2- Revenue is set to actual revenue account in Tessitura (but finance loads to deferred) then report is run after each production to reconcile for Journal entry for Finance.
Hi Mary,
Which report do you use for this purpose? Thank you
for #1 - ticket sales by periodfor #2 - GL Summary for the production specific GL
Thank you! for the quick response.