- Create a “customer” that is the name of the event.
- Navigate to the Accounts Receivable portion of the new Customer in the app. Enable A/R.
- Now that A/R is enabled, each and every time a person, who is participating in that event wants to pay, their payment can be made as payment on that event’s A/R account.
- Prior to the day of the event, you will need to create items that the event will be purchasing. These items may be - Green Fees, Cart Fees, Prize Money and F&B. Most may not include all, but for each event, there should be an item created so that it can be sold when the event is checked in.
- When checked in, the total purchase will be finalized to A/R with the event being the customer who is purchasing the line items.
- When this occurs, the credit that already exists on that A/R account will be applied. For example: if there is a $9000 dollar A/R credit on the day of the event, it will be applied. If the total charges equal $12,000, the event will have an outstanding A/R balance of $3,000. At this point, you’ll be able to collect the remaining balance or send a statement to that event.
Ultimately, this accomplishes two things.
- You are now realizing all of the revenue for that event on the day of the event.
- You’re able to know that all prize money that gets paid out via Club Credit from that event will land on the reports on a single day. This will promote simple reconciliation.