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Revenue at Time of Purchase (Cash Method) Revenue at Time of Use (Accrual Method) on Reports

This article will examine how revenue is calculated on reports when using the "Revenue at Time of Purchase" (cash method) and "Revenue at Time of Use" (accrual method) filters.

Things to know:

  1. The "Revenue at Time of Use" and "Revenue at Time of Purchase" filters are visible on the following reports:
  2. If "Time of Purchase" is selected, a prepaid column will be displayed in reports. Services, classes, or products covered by a membership, package, or gift card will be excluded from the net revenue shown.
  3. If "Time of Use" is selected, the prepaid column will not be shown, as revenue is not counted until the membership, package, or gift card is used.

Revenue at Time of Purchase Filter

Reports-MyTime__2_.png
Item   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 recognize from service/product/class Subtract prepaid revenue
Membership service/product/class discount   Retail revenue recognize 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   Recognize at the package item price Subtract prepaid revenue
Use of package with expiry - product credit   Recognize at the package item price Subtract prepaid revenue
Use of package with expiry - class credit   Recognize at the package item price Subtract prepaid revenue
Package without expiry - purchase   Recognize purchase Recognize purchase
Use of package without expiry - service credit   Recognize at the package item price Subtract prepaid revenue
Use of package without expiry - product credit   Recognize at the package item price Subtract prepaid revenue
Use of package without expiry - class credit   Recognize 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     Subtracted from gross revenue
 

Revenue at Time of Use Filter 

Reports-MyTime__1_.png
 
The Gift Card and Prepaid columns will be hidden
Item   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     Subtracted from gross revenue
 
 
If you have any questions, please contact our Support Team at support@mytime.com.  
 
 
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