http://supportwiki.chambermaster.com/index.php?title=Recognizing_Deferred_Income&feed=atom&action=historyRecognizing Deferred Income - Revision history2024-03-28T15:18:07ZRevision history for this page on the wikiMediaWiki 1.33.4http://supportwiki.chambermaster.com/index.php?title=Recognizing_Deferred_Income&diff=60521&oldid=prevSPederson: /* FAQs */2016-09-05T20:01:20Z<p><span dir="auto"><span class="autocomment">FAQs</span></span></p>
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<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===FAQs===</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===FAQs===</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div> </div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>:<ins class="diffchange diffchange-inline">[[</ins>How does the <ins class="diffchange diffchange-inline">Revenue Recognition Report </ins>work?<ins class="diffchange diffchange-inline">]]</ins></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline">:'''Q</del>: How does the <del class="diffchange diffchange-inline">revenue recognition report </del>work?<del class="diffchange diffchange-inline">'''</del></div></td><td colspan="2"> </td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div> </div></td><td colspan="2"> </td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline">::''Recognized Income by Invoice Date:''</del></div></td><td colspan="2"> </td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline">:::When this option is selected the recognition of the line items will start based on the ‘INVOICE DATE’. If an invoice is dated 1/14/16, for example, in the amount of $120.00, and the recognition period is set for 12 months then the monthly recognition will be $10/month starting with the January report.</del></div></td><td colspan="2"> </td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline">::''Recognized Income by Invoice Due Date:''</del></div></td><td colspan="2"> </td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline">:::When this option is selected the recognition of the line items will start based on the ‘DUE DATE’ on the invoice. If an invoice is dated 1/14/16 but the due date is set for 2/14/16, for example, in the amount of $120.00, and the recognition period is set for 12 months then the monthly recognition will be $10/month starting with the February report.</del></div></td><td colspan="2"> </td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline">::''Recognized Income by Payment Date:''</del></div></td><td colspan="2"> </td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline">:::When this option is selected the recognition of the line items will start based on when the PAYMENT is applied to the invoice. If an invoice is dated 1/14/16, for example, in the amount of $120.00, and the recognition period is set for 12 months then the monthly recognition will be $10/month with the first recognition being whenever the payment is applied. If the payment is applied in January then the recognition would start with the January report in the amount of $10.00, and then $10.00 each month thereafter. If the payment is applied in February then the recognition would start with the February report in the amount of $20.00, and then $10.00 each month thereafter. If the payment is recognized in August then the recognition would start with the August report in the amount of $80.00, and then $10.00 each month thereafter. In the case of a partial payment, the recognition would follow the same process as stated above with the exception that it would only be recognized UP TO the amount of the payment and then would start again when additional payments are applied. The full recognition would only happen in the event that the invoice is paid in full.</del></div></td><td colspan="2"> </td></tr>
</table>SPedersonhttp://supportwiki.chambermaster.com/index.php?title=Recognizing_Deferred_Income&diff=55911&oldid=prevSPederson at 21:52, 22 July 20162016-07-22T21:52:51Z<p></p>
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<td colspan="2" style="background-color: #fff; color: #222; text-align: center;">Revision as of 21:52, 22 July 2016</td>
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<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>:'''Q: How does the revenue recognition report work?'''</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>:'''Q: How does the revenue recognition report work?'''</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>:Recognized Income by Invoice Date:</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>:<ins class="diffchange diffchange-inline">:''</ins>Recognized Income by Invoice Date:<ins class="diffchange diffchange-inline">''</ins></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>::When this option is selected the recognition of the line items will start based on the ‘INVOICE DATE’. If an invoice is dated 1/14/16, for example, in the amount of $120.00, and the recognition period is set for 12 months then the monthly recognition will be $10/month starting with the January report.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins class="diffchange diffchange-inline">:</ins>::When this option is selected the recognition of the line items will start based on the ‘INVOICE DATE’. If an invoice is dated 1/14/16, for example, in the amount of $120.00, and the recognition period is set for 12 months then the monthly recognition will be $10/month starting with the January report.</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>:Recognized Income by Invoice Due Date:</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>:<ins class="diffchange diffchange-inline">:''</ins>Recognized Income by Invoice Due Date:<ins class="diffchange diffchange-inline">''</ins></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>::When this option is selected the recognition of the line items will start based on the ‘DUE DATE’ on the invoice. If an invoice is dated 1/14/16 but the due date is set for 2/14/16, for example, in the amount of $120.00, and the recognition period is set for 12 months then the monthly recognition will be $10/month starting with the February report.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins class="diffchange diffchange-inline">:</ins>::When this option is selected the recognition of the line items will start based on the ‘DUE DATE’ on the invoice. If an invoice is dated 1/14/16 but the due date is set for 2/14/16, for example, in the amount of $120.00, and the recognition period is set for 12 months then the monthly recognition will be $10/month starting with the February report.</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>:Recognized Income by Payment Date:</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>:<ins class="diffchange diffchange-inline">:''</ins>Recognized Income by Payment Date:<ins class="diffchange diffchange-inline">''</ins></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>::When this option is selected the recognition of the line items will start based on when the PAYMENT is applied to the invoice. If an invoice is dated 1/14/16, for example, in the amount of $120.00, and the recognition period is set for 12 months then the monthly recognition will be $10/month with the first recognition being whenever the payment is applied. If the payment is applied in January then the recognition would start with the January report in the amount of $10.00, and then $10.00 each month thereafter. If the payment is applied in February then the recognition would start with the February report in the amount of $20.00, and then $10.00 each month thereafter. If the payment is recognized in August then the recognition would start with the August report in the amount of $80.00, and then $10.00 each month thereafter. In the case of a partial payment, the recognition would follow the same process as stated above with the exception that it would only be recognized UP TO the amount of the payment and then would start again when additional payments are applied. The full recognition would only happen in the event that the invoice is paid in full.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins class="diffchange diffchange-inline">:</ins>::When this option is selected the recognition of the line items will start based on when the PAYMENT is applied to the invoice. If an invoice is dated 1/14/16, for example, in the amount of $120.00, and the recognition period is set for 12 months then the monthly recognition will be $10/month with the first recognition being whenever the payment is applied. If the payment is applied in January then the recognition would start with the January report in the amount of $10.00, and then $10.00 each month thereafter. If the payment is applied in February then the recognition would start with the February report in the amount of $20.00, and then $10.00 each month thereafter. If the payment is recognized in August then the recognition would start with the August report in the amount of $80.00, and then $10.00 each month thereafter. In the case of a partial payment, the recognition would follow the same process as stated above with the exception that it would only be recognized UP TO the amount of the payment and then would start again when additional payments are applied. The full recognition would only happen in the event that the invoice is paid in full.</div></td></tr>
</table>SPedersonhttp://supportwiki.chambermaster.com/index.php?title=Recognizing_Deferred_Income&diff=55901&oldid=prevSPederson at 21:50, 22 July 20162016-07-22T21:50:49Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[http://www.screencast.com/t/tryIhLzm8yQ Watch a short video on how this works]</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[http://www.screencast.com/t/tryIhLzm8yQ Watch a short video on how this works]</div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">===FAQs===</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">:'''Q: How does the revenue recognition report work?'''</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">:Recognized Income by Invoice Date:</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">::When this option is selected the recognition of the line items will start based on the ‘INVOICE DATE’. If an invoice is dated 1/14/16, for example, in the amount of $120.00, and the recognition period is set for 12 months then the monthly recognition will be $10/month starting with the January report.</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">:Recognized Income by Invoice Due Date:</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">::When this option is selected the recognition of the line items will start based on the ‘DUE DATE’ on the invoice. If an invoice is dated 1/14/16 but the due date is set for 2/14/16, for example, in the amount of $120.00, and the recognition period is set for 12 months then the monthly recognition will be $10/month starting with the February report.</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">:Recognized Income by Payment Date:</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">::When this option is selected the recognition of the line items will start based on when the PAYMENT is applied to the invoice. If an invoice is dated 1/14/16, for example, in the amount of $120.00, and the recognition period is set for 12 months then the monthly recognition will be $10/month with the first recognition being whenever the payment is applied. If the payment is applied in January then the recognition would start with the January report in the amount of $10.00, and then $10.00 each month thereafter. If the payment is applied in February then the recognition would start with the February report in the amount of $20.00, and then $10.00 each month thereafter. If the payment is recognized in August then the recognition would start with the August report in the amount of $80.00, and then $10.00 each month thereafter. In the case of a partial payment, the recognition would follow the same process as stated above with the exception that it would only be recognized UP TO the amount of the payment and then would start again when additional payments are applied. The full recognition would only happen in the event that the invoice is paid in full.</ins></div></td></tr>
</table>SPedersonhttp://supportwiki.chambermaster.com/index.php?title=Recognizing_Deferred_Income&diff=26673&oldid=prevMSchave at 18:04, 30 October 20152015-10-30T18:04:42Z<p></p>
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<td colspan="2" class="diff-lineno">Line 1:</td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>Deferred income recognition is <del class="diffchange diffchange-inline">a bookeeping </del>process used <del class="diffchange diffchange-inline">to recognize the </del>income <del class="diffchange diffchange-inline">that was received all at once </del>over a period of time <del class="diffchange diffchange-inline">instead</del>.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>Deferred income recognition is <ins class="diffchange diffchange-inline">an accounting </ins>process used <ins class="diffchange diffchange-inline">so that </ins>income <ins class="diffchange diffchange-inline">can be recognized </ins>over a period of time <ins class="diffchange diffchange-inline">rather than at the time of invoicing or receiving payment</ins>.</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>Typically <del class="diffchange diffchange-inline">the way it works would be the billing is done against the </del>deferred liability account(s). <del class="diffchange diffchange-inline">Then when it comes time to recognize that income </del>the '''Recognized Income Report''' is run to determine what revenue needs to be moved from <del class="diffchange diffchange-inline">the </del>deferred liability account(s) to the actual income account(s).</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>Typically <ins class="diffchange diffchange-inline">with this process transactions are initially recognized under a </ins>deferred liability account(s). <ins class="diffchange diffchange-inline">On a monthly basis </ins>the '''Recognized Income Report''' is run to determine what revenue needs to be moved from <ins class="diffchange diffchange-inline">that </ins>deferred liability account(s) to the actual income account(s)<ins class="diffchange diffchange-inline">. A general journal entry is then manually entered into the accounting software to adjust for this</ins>.</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>==Recognized Income Report==</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>==Recognized Income Report==</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>The recognized income report <del class="diffchange diffchange-inline">allows you to </del>easily <del class="diffchange diffchange-inline">get the totals of </del>the revenue that needs to be recognized each month. </div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>The recognized income report easily <ins class="diffchange diffchange-inline">provides </ins>the revenue <ins class="diffchange diffchange-inline">amount </ins>that needs to be recognized each month. </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===Setup===</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===Setup===</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>Before <del class="diffchange diffchange-inline">you can use </del>the recognized income reports <del class="diffchange diffchange-inline">you </del>need to <del class="diffchange diffchange-inline">have your account codes </del>assigned within <del class="diffchange diffchange-inline">your </del>chart of accounts. Each deferred liability account should have <del class="diffchange diffchange-inline">it's </del>own account code so that revenue can be recognized and moved to <del class="diffchange diffchange-inline">it's </del>appropriate income account each month. </div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>Before <ins class="diffchange diffchange-inline">using </ins>the recognized income reports<ins class="diffchange diffchange-inline">, account codes </ins>need to <ins class="diffchange diffchange-inline">be </ins>assigned within <ins class="diffchange diffchange-inline">the </ins>chart of accounts. Each deferred liability account should have <ins class="diffchange diffchange-inline">its </ins>own account code so that revenue can be recognized and moved to <ins class="diffchange diffchange-inline">the </ins>appropriate income account each month. </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>Setting up the required account codes is done through the '''Chart of Accounts''' See [[Chart_of_Accounts]] for more details.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>Setting up the required account codes is done through the '''Chart of Accounts'''<ins class="diffchange diffchange-inline">. </ins>See [[Chart_of_Accounts]] for more details.</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===Using the recognized income report===</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===Using the recognized income report===</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>To run this report <del class="diffchange diffchange-inline">you will need to </del></div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>To run this report </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>#Go to the '''Billing''' module and select the '''Reports''' tab.</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>#Go to the '''Billing''' module and select the '''Reports''' tab.</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>#In the '''Executive''' section select the appropriate version of the report by payment date or invoice date.</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>#In the '''Executive''' section select the appropriate version of the report by payment date or invoice date.</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>#Specify the report date and select the account code <del class="diffchange diffchange-inline">you wish </del>to <del class="diffchange diffchange-inline">report </del>on and adjust any other options as desired.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>#Specify the report date and select the account code <ins class="diffchange diffchange-inline">that needs </ins>to <ins class="diffchange diffchange-inline">be reported </ins>on<ins class="diffchange diffchange-inline">, </ins>and adjust any other options as desired.</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>#Click '''Refresh Report''' to generate <del class="diffchange diffchange-inline">your </del>report which <del class="diffchange diffchange-inline">you </del>can then <del class="diffchange diffchange-inline">review </del>on screen, <del class="diffchange diffchange-inline">download </del>or <del class="diffchange diffchange-inline">print</del>.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>#Click '''Refresh Report''' to generate <ins class="diffchange diffchange-inline">the </ins>report which can then <ins class="diffchange diffchange-inline">be reviewed </ins>on screen, <ins class="diffchange diffchange-inline">downloaded, </ins>or <ins class="diffchange diffchange-inline">printed</ins>.</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===What is the Recognized Income checkbox that appears when I create invoices?===</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===What is the Recognized Income checkbox that appears when I create invoices?===</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>Those that recognize income on a deferred basis have an option to defer income on any invoice line item. A checkbox appears on invoices that allows <del class="diffchange diffchange-inline">you to specify </del>the number of months that the income should be recognized over.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>Those that recognize income on a deferred basis have an option to defer income on any invoice line item. A checkbox appears on invoices that allows <ins class="diffchange diffchange-inline">for specifying </ins>the number of months that the income should be recognized over.</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[Image:ChamberMaster_Billing-What_is_the_Recognized_Income_checkbox_that_appe-FAQ_billing.2.2.1.jpg]]</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[Image:ChamberMaster_Billing-What_is_the_Recognized_Income_checkbox_that_appe-FAQ_billing.2.2.1.jpg]]</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>Recognition of this income would begin on the Invoice date and <del class="diffchange diffchange-inline">be displayed on </del>recognition reports <del class="diffchange diffchange-inline">such as </del>'''Recognized Income <del class="diffchange diffchange-inline">Detail</del>''' and '''Recognized Income <del class="diffchange diffchange-inline">Summary</del>''' in the '''Billing''', '''Reports''' tab. <del class="diffchange diffchange-inline">This report also could report the deferred income based on Due Date as well</del>. <del class="diffchange diffchange-inline"> </del>Previously, recognized income was only possible with membership fees and <del class="diffchange diffchange-inline">due </del>items. This selection makes it possible to recognize deferred income for any invoiced item.</div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>Recognition of this income would begin on the Invoice date<ins class="diffchange diffchange-inline">, Due date, or Payment date depending on the report that is run </ins>and <ins class="diffchange diffchange-inline">the selections that are made. These </ins>recognition reports <ins class="diffchange diffchange-inline">are titled </ins>'''Recognized Income <ins class="diffchange diffchange-inline">by Invoice Date</ins>''' and '''Recognized Income <ins class="diffchange diffchange-inline">by Payment Date</ins>''' in the '''Billing''', '''Reports''' tab <ins class="diffchange diffchange-inline">under the '''Executive''' section</ins>. <ins class="diffchange diffchange-inline">A '''detail''' or '''summary''' view can be generated</ins>. Previously, recognized income was only possible with membership fees and <ins class="diffchange diffchange-inline">dues </ins>items. This selection makes it possible to recognize deferred income for any invoiced item.</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[http://www.screencast.com/t/tryIhLzm8yQ Watch a short video on how this works]</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[http://www.screencast.com/t/tryIhLzm8yQ Watch a short video on how this works]</div></td></tr>
</table>MSchavehttp://supportwiki.chambermaster.com/index.php?title=Recognizing_Deferred_Income&diff=26581&oldid=prevPSaeger at 14:40, 30 October 20152015-10-30T14:40:03Z<p></p>
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<td colspan="2" style="background-color: #fff; color: #222; text-align: center;">← Older revision</td>
<td colspan="2" style="background-color: #fff; color: #222; text-align: center;">Revision as of 14:40, 30 October 2015</td>
</tr><tr><td colspan="2" class="diff-lineno" id="mw-diff-left-l1" >Line 1:</td>
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<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">Deferred income recognition is a bookeeping process used to recognize the income that was received all at once over a period of time instead.</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">Typically the way it works would be the billing is done against the deferred liability account(s). Then when it comes time to recognize that income the '''Recognized Income Report''' is run to determine what revenue needs to be moved from the deferred liability account(s) to the actual income account(s).</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">==Recognized Income Report==</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">The recognized income report allows you to easily get the totals of the revenue that needs to be recognized each month. </ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">===Setup===</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">Before you can use the recognized income reports you need to have your account codes assigned within your chart of accounts. Each deferred liability account should have it's own account code so that revenue can be recognized and moved to it's appropriate income account each month. </ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">Setting up the required account codes is done through the '''Chart of Accounts''' See [[Chart_of_Accounts]] for more details.</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">===Using the recognized income report===</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">To run this report you will need to </ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">#Go to the '''Billing''' module and select the '''Reports''' tab.</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">#In the '''Executive''' section select the appropriate version of the report by payment date or invoice date.</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">#Specify the report date and select the account code you wish to report on and adjust any other options as desired.</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">#Click '''Refresh Report''' to generate your report which you can then review on screen, download or print.</ins></div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;"></ins></div></td></tr>
<tr><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===What is the Recognized Income checkbox that appears when I create invoices?===</div></td><td class='diff-marker'> </td><td style="background-color: #f8f9fa; color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>===What is the Recognized Income checkbox that appears when I create invoices?===</div></td></tr>
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</table>PSaegerhttp://supportwiki.chambermaster.com/index.php?title=Recognizing_Deferred_Income&diff=26551&oldid=prevPSaeger: PSaeger moved page ChamberMaster Billing-What is the Recognized Income checkbox that appe to Recognizing Deferred Income2015-10-30T14:09:49Z<p>PSaeger moved page <a href="/ChamberMaster_Billing-What_is_the_Recognized_Income_checkbox_that_appe" class="mw-redirect" title="ChamberMaster Billing-What is the Recognized Income checkbox that appe">ChamberMaster Billing-What is the Recognized Income checkbox that appe</a> to <a href="/Recognizing_Deferred_Income" title="Recognizing Deferred Income">Recognizing Deferred Income</a></p>
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<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline"><div xmlns</del>=<del class="diffchange diffchange-inline">"http://www.w3.org/1999/xhtml"></del></div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>===What is the Recognized Income checkbox that appears when I create invoices?==<ins class="diffchange diffchange-inline">=</ins></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline"> <div style</del>=<del class="diffchange diffchange-inline">"text-align: left;">[[ChamberMaster_Billing-TableOfContents|Table of Contents]] | [[ChamberMaster_Billing-Integrated_Billing_FAQs|Previous]] | [[ChamberMaster_Billing-What_does_the_Associate_with_Event_button_do_3f|Next]] | [[ChamberMaster_Billing-Index|Index]]</div></del></div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div> </div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline"> <div style</del>=<del class="diffchange diffchange-inline">"color: #999999; font-family: sans-serif; font-size: 10pt; text-align: left;"></del></div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>Those that recognize income on a deferred basis have an option to defer income on any invoice line item. A checkbox appears on invoices that allows you to specify the number of months that the income should be recognized over.</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline"> <span>[[ChamberMaster_Billing-Integrated_Billing_FAQs|Integrated Billing FAQs]]</span> : </del>What is the Recognized Income checkbox that appears when I create invoices?<del class="diffchange diffchange-inline"></div></del></div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div> </div></td></tr>
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<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline"> <div style</del>=<del class="diffchange diffchange-inline">"color: #808080; font-family: Cambria; font-size: 18pt; margin-bottom: 12pt;"><span id</del>=<del class="diffchange diffchange-inline">"wwpID0EVFA">What is the Recognized Income checkbox that appears when I create invoices?</span></div></del></div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div> </div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline"> <div style="font-family: &quot;Times New Roman&quot;; font-size: 11pt; margin-bottom: 12pt;"><span id="wwpID0EUFA"></del>Those that recognize income on a deferred basis have an option to defer income on any invoice line item. A checkbox appears on invoices that allows you to specify the number of months that the income should be recognized over. <del class="diffchange diffchange-inline"></span></div></del></div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>Recognition of this income would begin on the Invoice date and be displayed on recognition reports such as <ins class="diffchange diffchange-inline">'''</ins>Recognized Income Detail<ins class="diffchange diffchange-inline">''' </ins>and <ins class="diffchange diffchange-inline">'''</ins>Recognized Income Summary<ins class="diffchange diffchange-inline">''' </ins>in the <ins class="diffchange diffchange-inline">'''</ins>Billing<ins class="diffchange diffchange-inline">'''</ins>, <ins class="diffchange diffchange-inline">'''</ins>Reports<ins class="diffchange diffchange-inline">''' </ins>tab. This report also could report the deferred income based on Due Date as well. Previously, recognized income was only possible with membership fees and due items. This selection makes it possible to recognize deferred income for any invoiced item.</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline"> <div style="font-family: &quot;Times New Roman&quot;; font-size: 11pt; margin-bottom: 12pt; margin-left: 54pt; text-align: justify;"><span id="wwpID0ETFA"></del>[[Image:ChamberMaster_Billing-What_is_the_Recognized_Income_checkbox_that_appe-FAQ_billing.2.2.1.jpg]]<del class="diffchange diffchange-inline"></span></div></del></div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div> </div></td></tr>
<tr><td class='diff-marker'>−</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div><del class="diffchange diffchange-inline"> <div style="font-family: &quot;Times New Roman&quot;; font-size: 11pt; margin-bottom: 12pt;"><span id="wwpID0ESFA"></del>Recognition of this income would begin on the Invoice date and be displayed on recognition reports such as <del class="diffchange diffchange-inline"></span><span style="font-weight: bold;"></del>Recognized Income Detail<del class="diffchange diffchange-inline"></span> </del>and <del class="diffchange diffchange-inline"><span style="font-weight: bold;"></del>Recognized Income Summary<del class="diffchange diffchange-inline"></span> </del>in the <del class="diffchange diffchange-inline"><span style="font-weight: bold;"></del>Billing<del class="diffchange diffchange-inline"></span></del>, <del class="diffchange diffchange-inline"><span style="font-weight: bold;"></del>Reports<del class="diffchange diffchange-inline"></span> </del>tab. This report also could report the deferred income based on Due Date as well. Previously, recognized income was only possible with membership fees and due items. This selection makes it possible to recognize deferred income for any invoiced item.<del class="diffchange diffchange-inline"></div></del></div></td><td class='diff-marker'>+</td><td style="color: #222; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>[http://www.screencast.com/t/tryIhLzm8yQ Watch a short video on how this works]</div></td></tr>
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</table>PSaegerhttp://supportwiki.chambermaster.com/index.php?title=Recognizing_Deferred_Income&diff=1837&oldid=prevSPederson: Created page with "<div xmlns="http://www.w3.org/1999/xhtml"> <div style="text-align: left;">Table of Contents | ChamberMaster_Billing-Integrated_B..."2015-03-26T03:06:58Z<p>Created page with "<div xmlns="http://www.w3.org/1999/xhtml"> <div style="text-align: left;"><a href="/index.php?title=ChamberMaster_Billing-TableOfContents&action=edit&redlink=1" class="new" title="ChamberMaster Billing-TableOfContents (page does not exist)">Table of Contents</a> | ChamberMaster_Billing-Integrated_B..."</p>
<p><b>New page</b></p><div><div xmlns="http://www.w3.org/1999/xhtml"><br />
<div style="text-align: left;">[[ChamberMaster_Billing-TableOfContents|Table of Contents]] | [[ChamberMaster_Billing-Integrated_Billing_FAQs|Previous]] | [[ChamberMaster_Billing-What_does_the_Associate_with_Event_button_do_3f|Next]] | [[ChamberMaster_Billing-Index|Index]]</div><br />
<div style="color: #999999; font-family: sans-serif; font-size: 10pt; text-align: left;"><br />
<span>[[ChamberMaster_Billing-Integrated_Billing_FAQs|Integrated Billing FAQs]]</span> : What is the Recognized Income checkbox that appears when I create invoices?</div><br />
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<div style="color: #808080; font-family: Cambria; font-size: 18pt; margin-bottom: 12pt;"><span id="wwpID0EVFA">What is the Recognized Income checkbox that appears when I create invoices?</span></div><br />
<div style="font-family: &quot;Times New Roman&quot;; font-size: 11pt; margin-bottom: 12pt;"><span id="wwpID0EUFA">Those that recognize income on a deferred basis have an option to defer income on any invoice line item. A checkbox appears on invoices that allows you to specify the number of months that the income should be recognized over. </span></div><br />
<div style="font-family: &quot;Times New Roman&quot;; font-size: 11pt; margin-bottom: 12pt; margin-left: 54pt; text-align: justify;"><span id="wwpID0ETFA">[[Image:ChamberMaster_Billing-What_is_the_Recognized_Income_checkbox_that_appe-FAQ_billing.2.2.1.jpg]]</span></div><br />
<div style="font-family: &quot;Times New Roman&quot;; font-size: 11pt; margin-bottom: 12pt;"><span id="wwpID0ESFA">Recognition of this income would begin on the Invoice date and be displayed on recognition reports such as </span><span style="font-weight: bold;">Recognized Income Detail</span> and <span style="font-weight: bold;">Recognized Income Summary</span> in the <span style="font-weight: bold;">Billing</span>, <span style="font-weight: bold;">Reports</span> tab. This report also could report the deferred income based on Due Date as well. Previously, recognized income was only possible with membership fees and due items. This selection makes it possible to recognize deferred income for any invoiced item.</div><br />
<div style="font-family: &quot;Times New Roman&quot;; font-size: 11pt; margin-bottom: 12pt;"><span style="color: #003366; text-decoration: underline;"><span id="wwpID0ERFA">[[http://www.screencast.com/t/tryIhLzm8yQ|Watch a short video on how this works]]</span></span> - [[http://www.screencast.com/t/tryIhLzm8yQ|[[Image:ChamberMaster_Billing-What_is_the_Recognized_Income_checkbox_that_appe-FAQ_billing.2.2.2.jpg]]]]</div><br />
</div></div>SPederson