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Balancing Outlet Sales

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The outlet version of Theatre Manager automatically tracks receivables and payables to other outlets so that all you should really need to do is:
  • Daily Basis - run the end of day wizard and post to your G/L
  • Periodically - reconcile the 4 receivables and payable accounts with each outlet and pay each other.

Periodically Balancing Outlets

Balancing outlets and what you owe to each other assumes you have set up the outlet accounts (in each outlet) as per the instructions in setting up outlet posting accounts

The general process is that on a daily, weekly, biweekly or monthly period, as agreed to by each outlet, you should reconcile the special accounts for posting outlet receivables and payables. This is done as follows:

  1. Each outlet completes their end of day and posts to the GL on the anointed date
  2. Each outlet runs the G/L Journal Detail by Account report with criteria that specifies the three accounts for their outlet that represent and a date range. EG:
    • A/R Ticket sales other outlets owe you
    • A/R Commissions owed from other outlets
    • A/P Tickets sales owed to other outlets
    • And the same transaction date range - eg if you are doing for a month, then specify the month in the criteria
    Refer to the sample below:
  3. The text in the journal description indicates which outlet owes whom for commissions and sales and receivables. Add them up so that:
    • Your receivables (from each outlet) or ticket sales and commissions
    • LESS your payables to each outlet
    • -----------------------
    • Write and checks to each other as required
    • Repeat after the next period is over


    Optionally - Make a Clearing entry in TheatreManager

    Once you know what each outlet owes you and you owe them, we highly recommend making a manual GL clearing entry for the above 3 accounts indicating that things have been paid (i.e. create GL entries to set the balances to zero and offset the bank account with the income received or check paid). That way you will see the manual GL entry with the appropriate date on it and can see the settlement dates.


    Other places with financial data

    While the above is the sole process for dealing with outlet reconciliation, you can also look at events to see who's been selling them for you.

    On the Sales tab, you can see the current state of affairs. Note: tickets can be refunded from other outlets so there may be days with negative numbers. And since this data can be reported on, you could use a daily sales report to see across events.

    On the Revenue Tab: