Utilizing Accounts Receivable for Event Deposits and Purchase


  1. Create a “customer” that is the name of the event.
  2. Navigate to the Accounts Receivable portion of the new Customer in the app. Enable A/R.
  3. 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.
  4. 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.
  5. When checked in, the total purchase will be finalized to A/R with the event being the customer who is purchasing the line items.
  6. 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.

  1. You are now realizing all of the revenue for that event on the day of the event.
  2. 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.

Sincerely,

Teesnap Support

support@teesnap.com

844.458.1032