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Special accounts for Outlet Setup

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Please take care setting up the accounts below. They are design to act like 'revolving accounts' for sales an receivables. If set up properly, the periodic outlet balancing process should be relatively straight forward.
Account Purpose Account Type Description and what happens in your outlet What happens in the other outlet
A/R Ticket Sales Other Outlets Owe You Asset If you allow another outlet to sell your tickets, an entry will be made to this account for the amount that they owe you. This is why it is normally an Asset account (receivables)

The offset account for the tickets will be the accounts in the accounting tab of the event setup window

The other outlet will have taken the payment for the tickets and they will owe you money.
  • The payment is debited the asset accounts (in their books) that they have set up in the payment code tables under their outlet.
  • The offsetting credit will be their A/P Ticket Sales owed to other outlets. This is described below.
In general, tickets the other outlet sells is owed to you, less commissions.
A/R Commissions owed from other outlets Asset When you sell tickets for another outlet, you can receive a commission for the sale (if they set one up in Commission Setup

The amount that the other outlet owes you

  • is debited in this receivables account
  • and is credited to the special Commission Income account (below)
 Commission setup has an accounting tab.

When a commission is owed to an outlet, the accounts in the commission tab are used for the outlet:

  • Commission Cost of Sales is Debited
  • Outlet Payable Account is Credited
A/P Ticket Sales owed to other outlets Liability This is the account used to track money you owe to the other outlet after selling one of their tickets. It is the reverse of the description of the 'A/R Tickets sales other outlets owe you' under the last column - what happens in the other outlet. Essentially, your outlet:
  • puts money for the sale into your bank
  • owes the other outlet
 This is also the reverse of the description of the 'A/R Tickets sales other outlets owe you' under the third column - what happens in your outlet other outlet.
Commission Income from all other outlets Income When you sell a ticket for another outlet, any commission due to you is offset into this account. (see 'A/R Commissions owed from other outlets - fourth column') When another outlet sells your ticket, the commission payable is placed into the account in the commission setup. (see 'A/R Commissions owed from other outlets - third column')
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