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Post Info TOPIC: Deferred Income
Nimac


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Deferred Income
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Hello All,

I have a new client who has a subscription based business - his customer pay up front for the following 12 months, nice business model!!

My question has to do with how to record this on Sage. I am thinking i record it as a sales in the 4000 range then make a monthly adjustment between this and a deferred income nominal in the 2000 range.

What are your thoughts?

Thanks.

 



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NickCraggs


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Hi that's how i would record it. I would have an excel spreadsheet setup with all the customers just to make sure my balance on my deferred income account is correct, as if there gets to be a lot of different amounts over different periods this could get messy!

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Nick 

Nick Craggs FMAAT ACA  AAT Distance Learning Manager

@nickcraggs 

BKN Tutor of the Year 2013 & 2015


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Nimac


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Yes, it could get messy!!

Thanks for the info.

 



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