The Financial Report - Accrual Accounting shows your venue's revenue position in terms of accrual accounting practices.
What is this report used for?
- The purpose of using this report is to see the financial position of your venue with regards to specific accrual accounting metrics, where revenue is recognised when you provide the service (i.e. when a customer go to your venue and gets checked in)
NOTE - This report is quite complex and requires knowledge of accrual accounting practices to understand. If you'd like to learn how to use the report, contact your ROLLER Client Success Manager to arrange a training session.
How does it work?
There are three types of entry:
Transaction - when someone pays for something (positive) or refunds (negative)
Redemptions - when someone checks something in pos
Expiration - when product is no longer valid, but was not redeemed. For example if you book a jump session but do not show up/get checked in, the ticket will expire at the end of the session and the revenue will be recognised
Every single ticket is broken down to each line and it will always have a positive and negative entry, which balances out
In the case of gift cards, if someone buys a gift card and uses that gift card to buy something today, it will immediately go from gift card deferred revenue to revenue. However, if it is for something to be used next week, it will move from gift card deferred revenue to deferred revenue, and then once that booking is redeemed/expires the revenue will be recognised against that product
The matrix on the top shows the changes in deferred revenue and not the actual deferred revenue for that particular time frame. We are currently working on a separate report for this
Click here to download detailed diagram on how Accrual Accounting report works.
What data can you see?
You can filter the report by booking location, product name, payment type, and redemption location.
- Booking Location - this filter is used to select where the transaction was processed. Some things to note:
- Online Bookings Only refers to transactions made via your online checkout, and will go through your online payment gateway. These will all be either Credit Card or Paypal
- POS refers to transactions made via ROLLER Point of Sale at the venue. You can select individual POS devices with this filter
- Venue Manager refers to transactions processed by staff members in the ROLLER Venue Manager
- Product Name - this filter is used to include or exclude certain products from appearing on the report. Leaving it blank will include all products including archived product if there is a booking for that product on the selected date range. If you click "select all", it will only include products that are active as at the day you run the report
- Payment Type - this allows you to select the tender type used in transactions
- Credit Card covers all online and POS Credit/Debit card transactions taken
- Credit Card Auth are pre-authorised credit card transactions. Note that this is a very uncommon method of payment
- Cash is all cash transactions processed in POS and any transaction marked as paid by cash in Venue Management/Admin
- Eftpos is all Eftpos transactions processed in POS and any transaction marked as paid by Eftpos in Venue Management/Admin
- PayPal is all transaction paid via PayPal (only if you have PayPal enabled in your venue)
- Other is when you mark the payment made by "other" avenues in Venue Management/Admin
- Gift Card tender type refers to bookings that have been paid for via redeeming a gift card. This is not actually money received, as the gift card have been paid for separately at the time of purchase
- Bank Transfer refers to all the transactions marked by paid by Bank Transfer in Venue Management/Admin
- BPay refers to all the transactions marked by paid by BPay in Venue Management/Admin
- Cheque refers to all the transactions marked by paid by Cheque in Venue Management/Admin
- Prepaid is only relevant if you have tickets from a third-party provider
- Redemption Location - this filter is used to view the redemptions on specific POS devices.
In order to adjust the column displayed on the report, select the cog icon:
The columns available are:
- Entry Time is the time at which the transaction, redemption or expiry entry occurred
- Entry Type is whether the entry is a Transaction, Redemption or Expiry
- Parent Product Name is the name of the Product the entry is from
- Product Name is the name of the specific ticket type the entry is from
- Recognised Revenue is the amount of revenue that was recognised on the entry including tax and fees, and excluding any discounts applied. Revenue is recognised when a ticket is redeemed or expires. For example, if a booking is expired and there is a partial payment, the amount that is paid goes from deferred revenue to recognised revenue and the balance that is not yet paid goes to accounts receivable
- Fee Revenue is the amount of fee revenue included in the recognised revenue
- Deferred Revenue is the amount of deferred revenue on the entry. Revenue is deferred when you have received the funds for a booking/ticket however it has not been redeemed or expired yet.
- Deferred Revenue (Gift Cards) is the value of deferred revenue shifted to a gift card from that entry. Gift Card deferred revenue is when you have received the funds for the purchase of the Gift Card but it has not yet been redeemed or expired.
- Discount is the discount applied on the ticket in the entry
- Accounts Receivable is the amount of accounts receivable on the entry. Accounts receivable is when a ticket has been redeemed or expired but you have not yet received the funds from the customer. Accounts receivable is the balance outstanding
- Funds Received is the amount of money received on the entry. Total funds received includes tax and discount
- Booking ID is the booking reference number in ROLLER that the transaction was against
- Payment Status is the current status of the booking, eg. Fully paid, partially paid, cancelled
- Payment Type is the tender type used to pay for the booking
- Payment Gateway ID is the identifier from the online gateway your venue uses
- Location is where on the ROLLER system the booking was made, eg. Online by Customer, POS
- Redemption Location is which POS device the ticket was redeemed on
- Ticket ID is the unique ID number for the ticket. If custom ticket ID is used, it will not show the custom ticket ID number and will still show the original ticket ID number
- GL Code is the GL code assigned to that ticket type (if applicable)
- Tax Percent is the tax rate that product is charged at
- Tax on Funds Received is tax on the funds of all the money taken today. This should mirror the Tax Collected
- Tax Payable is tax on recognised revenue for the day
- Net revenue is your after-tax revenue
- Product name filter where you can include/exclude certain products from appearing on the product. Leaving it blank will include all products including archived product, if there is a booking for that product on the selected date range. If you click “select all”, it will only include products that are active as at they day you run the report
- Redemption location is a filter used to view the redemptions on specific POS devices
How is this report activated?
You will need to contact your Account Manager to activate this report. Additional fee may apply
- What is the difference between accounts receivable and deferred revenue? Accounts receivable is the amount owing on a booking that has been redeemed or has expired, deferred revenue is the amount paid on a booking that has not yet been redeemed or expired
- What is the difference between total recognised discount and total discount? Total recognised discount is the discounted amounts on recognised item only, whereas total discount is the value of discounts on funds received
- Why is the difference between tax payable and tax collected? Tax payable is the tax on your recognised revenue (redeemed and expired items) and tax collected is the tax on funds received (regardless of whether the items have been recognised or not)