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Accounting & financial reports~5 min · 4 steps

Recognize deferred revenue manually or by session

Release earned program revenue, or schedule recognition from the program’s sessions.

  1. 1

    Prepare a deferred mapping

    Use this workflow with Accrual accounting. Map the program or its rate to a deferred-revenue liability account before issuing the sale. Already posted sales keep their original accounts. Revenue remains deferred until it is earned and recognized.

    Screenshot: Prepare a deferred mapping. The blue outlines identify the controls described in this step.

    Select the screenshot to enlarge it. The blue outline marks the control to use.

  2. 2

    Recognize an earned amount

    On Chart of accounts, find Recognise deferred revenue and the program’s remaining balance. Enter Amount, Date and an explanatory Reason, then Recognise revenue. Release only what has been earned, within the displayed balance. The section appears when deferred balances are available under accrual accounting.

    Screenshot: Recognize an earned amount. The blue outlines identify the controls described in this step.

    Select the screenshot to enlarge it. The blue outline marks the control to use.

  3. 3

    Enable recognition by session

    In Optional accounting automation, find Revenue recognition by session, check the program and save its row. Open Recognition schedule to review the dates. The daily job saves allocations and recognizes elapsed sessions, including past sessions. Manual releases and refunds reduce the remaining amount.

    Screenshot: Enable recognition by session. The blue outlines identify the controls described in this step.

    Select the screenshot to enlarge it. The blue outline marks the control to use.

  4. 4

    Review changes to the calendar

    Review the saved dates and amounts before relying on the schedule. Saved allocations retain their dates if the program calendar changes. To return to manual recognition, uncheck the program and save; this does not undo entries already posted. Resolve any closed accounting month before attempting a correction in that month.

    Screenshot: Review changes to the calendar. The blue outlines identify the controls described in this step.

    Select the screenshot to enlarge it. The blue outline marks the control to use.

Keep going

Accounting & financial reports
Map sales and payment accounts

Route programs, rates, memberships, products and payment methods to the right accounts.

Accounting & financial reports
Read the sales summary

Understand gross sales, discounts, credits, refunds and net sales by account.

Accounting & financial reports
Close and reopen an accounting month

Protect a reviewed month from new postings and use an owner override when corrections are required.