Events : Liability Accounts

Article Contents: Through this tutorial, viewers will learn how to locate and analyze their event liability accounts, particularly focusing on online events.

This tutorial explains the significance of the 'Anticipated date of accrued revenue,' and it clarifies what 'Event Total,' 'Deposited Amount,' 'Balance Due,' and 'Credits Due' signify. By the end of this tutorial, viewers would be equipped to manage their event finances effectively, keeping a keen eye on the revenue to be collected, amounts deposited, balances due, and credits to be returned to attendees or customers.

Step-By-Step:

Step 1: To access the event liability accounts, click on the "Reports" tab in the main menu, and then select "Liability Account" from the options.

Step 2: Within the liability account section, choose "Online Event" to view upcoming events and their details.

Step 3: The event details include:

- Anticipated date of accrued revenue: The date when the event will occur and revenue will be collected.

- Event total: The complete amount generated by the event.

- Deposited amount: The amount already collected for the event.

- Balance due: Any remaining amount to be collected.

- Credits due: Any credits to be returned to attendees or customers.

Step 4: All earnings from events, including online events, are stored in the liability account.

Step 5: In the bottom right corner, there is an option to export the event details, which can be useful for generating reports.