🌍 Only available in France and the United States.
You can let the software automatically create deferred revenue entries for your memberships and events by enabling the option in your accounting settings (Settings > Accounting > Deferred Revenue / Prepaid Expenses > Deferred Revenue Automation).
To learn more about deferred revenue and prepaid expenses, see this article: Recording Prepaid Expenses / Deferred Revenue
How does it work?
Deferred revenue entries are created automatically from a form when a transaction covers a period that extends into the next accounting period. The deferred portion is calculated based on several factors:
- The date of the accrual entry
- Your accounting period end date
- Membership pricing and plans (date-to-date or X-month period)
- Your event dates (if specified)
How do you review automatically generated deferred revenue entries?
Go to "Deferred Revenue Management" from Accounting > Book Entry > Your Advanced Operations to:
- View your deferred revenue entries by accounting period
- Edit amounts as needed
- Delete any entries that don't apply
Practical example:
The Arts on Stage Cultural Association collects membership dues in December 2024 for the year 2025. The system will automatically create a 100% deferred revenue entry, since the entire membership period falls within the next accounting period!
Note: at this time, this option is only available for deferred revenue. Support for prepaid expenses will be added in a future update.
Comments
0 comments
Please sign in to leave a comment.