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Prepaids at time of purchase checkbox on Reports

This article will examine how revenue is calculated on the Daily Revenue and Client Revenue reports when the "Prepaids at time of purchase" checkbox is checked and unchecked.

Prepaids at time of purchase checkbox - Checked

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    Gross Revenue  Net Revenue
Services   Recognize at retail rate Retail rate minus service discount
Products   Recognize at retail rate Retail rate minus product discount
Classes   Recognize at retail rate Retail rate minus class discount
Membership fees   Recognize purchase Recognize purchase minus discount
Use of membership service/product/class credits   Retail revenue recognized from service/product/class Subtract prepaid revenue
Membership service/product/class discount   Retail revenue recognized from service/product/class Retail rate minus membership discount
Use of membership value credits   Retail revenue recognized from service/product/class Subtract prepaid revenue (Portion that is used)
Package with expiry - purchase   Recognize purchase Recognize purchase minus discount
Use of package with expiry - service credit   Recognized at the package item price Subtract prepaid revenue
Use of package with expiry - product credit   Recognized at the package item price Subtract prepaid revenue
Use of package with expiry - class credit   Recognized at the package item price Subtract prepaid revenue
Package without expiry - purchase   Recognize purchase Recognize purchase
Use of package without expiry - service credit   Recognized at the package item price Subtract prepaid revenue
Use of package without expiry - product credit   Recognized at the package item price Subtract prepaid revenue
Use of package without expiry - class credit   Recognized at the package item price Subtract prepaid revenue
Gift card purchase   Recognize purchase Recognize purchase minus discount
Use of gift card for Service/product/class   Retail revenue recognized from service/product/class Subtract prepaid revenue (Portion that is used)
Cancellation fees   Recognize in full Recognized in full minus discount
Environmental fees   Recognize in full Recognized in full minus discount
Refunds     Subtract from gross revenue
 

Prepaids at time of purchase checkbox - Unchecked

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When unchecked, the Gift Card and Prepaid columns will be hidden.
    Gross Revenue Net Revenue
Services   Recognize at retail rate Retail rate minus service discount
Products   Recognize at retail rate Retail rate minus product discount
Classes   Recognize at retail rate Retail rate minus class discount
Membership fees   Recognize fees minus value credits. Ignore time period, i.e. even fees paid for the whole year are recognized immediately Recognize fees minus value credits. Ignore time period, i.e. even fees paid for the whole year are recognized immediately
Use of membership service/product/class credits   No impact on revenue No impact on revenue
Membership service/product/class discount   Recognize at retail rate Retail rate minus membership discount
Use of membership value credits   Retail revenue recognized from service/product/class Retail revenue recognized from service/product/class
Package with expiry - purchase   Recognize purchase Recognize purchase minus discount
Use of package with expiry - service credit   No impact on revenue No impact on revenue
Use of package with expiry - product credit   No impact on revenue No impact on revenue
Use of package with expiry - class credit   No impact on revenue No impact on revenue
Package without expiry - purchase   Recognize purchase Recognize purchase
Use of package without expiry - service credit   No impact on revenue No impact on revenue
Use of package without expiry - product credit   No impact on revenue No impact on revenue
Use of package without expiry - class credit   No impact on revenue No impact on revenue
Gift card purchase   Do not recognize (Gift Card column is hidden) Do not recognize (Gift Card column is hidden)
Use of gift card for Service/product/class   Retail revenue recognized from service/product/class Retail revenue recognized from service/product/class minus discount
Cancellation fees   Recognize in full Recognized in full minus discount
Environmental fees   Recognize in full Recognized in full minus discount
Refunds     Subtract from gross revenue
 
 
If you have any questions, please contact our Support Team at support@mytime.com.  
 
 
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