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Where did money get refunded to?
We have been frequently asked how to track WHERE money for refunded tickets is going. Is it going to:
- a gift certificate
- a donation
- being left on account, or
- actually refunded to the patron?
It is a very good question. There is no one report that can tell you all this, primarily because of the fundamental nature of how accrual accounting works. But if you refund to donations or gift certificates, there is a way get reports for this
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Before you do any refunding, please make sure to set up gift certificates and donation campaigns to track refunds appropriately if you are not giving money back.
Do not leave the order on account. |
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Theatre Manager uses accrual accounting. In simplistic terms, it means a payment only pays down the balance of an order - you cannot tell how a particular ticket was paid for. Please read a detailed explanation
When trying to report on refunds, a similar dilemma occurs. If you refund some tickets in an order that contains donations, passes, or other items, you cannot tell exactly what the refund was for, since it only decreases the balance payable on the order to the patron. |
The following sections describe:
- A quick outline of what happens in accrual accounting during a ticket refund
- How to best track what money was refunded to (gift certificate, donation or refund)
- The 3 key report areas/data sources that can be used to determine how you gave money back