Finance Reports (Accrual Accounting)
Before we dive into the accounting reports, it’s important to review some key settings within Venue Manager that will have a big impact on your accounting Reports & revenue data. To access these settings navigate to Account > Venue Settings
From here scroll to “Booking modifications”
How you configure this setting will impact your staff’s ability to edit past bookings.
Why is this important?
When it comes to accrual accounting principles revenue is recognized when the revenue is earned.
In ROLLER this means revenue is recognized when a ticket is either redeemed or becomes expired. As opposed to cash based accounting principles which recognized revenue when the funds are received.
If you give staff the power to edit past bookings then this could change historical revenue figures and cause inconsistencies if you’ve already accounted for that revenue.
We recommend disabling all historical booking modifications if you want to maintain your reporting integrity.
However, we understand that operationally more flexibility with managing bookings may be required, so we give you the ability to allow booking modifications for a certain period of time. We recommend that your finance team & operations team discuss this setting and work out a solution that works for everyone.
If you keep scrolling on this page you will find a reporting section where you can select which accounting principle your venue utilizes to recognize revenue. If you choose accrual, this will open up more finance accounting reports specific to accrual accounting as well as make accrual accounting fields accessible in other applicable reports like the Detailed Product Sales report.
Choosing cash will simplify the report suite so only reports & data applicable to cash accounting principles will display.
If you want to find bookings which contain deferred revenue, navigate to the deferred revenue by booking report and filter to today’s date. You will see all bookings in ROLLER that currently have deferred revenue attached to them.
It will also show you bookings where gift card revenue was generated, as well as bookings where gift card deferred revenue was redeemed.
If a booking with deferred revenue is in this list which you believe should’ve already been recognized, this will be due to the fact that the ticket wasn’t redeemed yet and is yet to expire. If the product was meant to expire, please review the product setup to ensure validity is setup correctly
If you want to find a breakdown of your revenue figures by GL code, navigate to the ledger summary report. If you have unassigned revenue, you will need to double check your Reporting Category setup to ensure there are no unassigned products.
This report will show each GL code along with the funds received and revenue figures. You can filter this by payment channel or POS device.
Note Gross revenue figures in this report are not inclusive of recognized discounts, so it won’t reconcile with Gross revenue in the Revenue Report.
To get a summary of debits and credits represented in Trial Balance format navigate to the trial balance report. From here you can see all your debit figures balanced against your credit figures. It will also display any imbalances in the form of a variance at the bottom of the report.
If you want to investigate any of these summary figures you will need to utilize the revenue recognition report.
To easily see a breakdown of tax rates within your venue and the revenue connected to this, navigate to the sales tax report. This will give you a breakdown of each tax rate within your venue and the amount of tax payable for that period.
If you want to see what transaction & revenue entries make up the summary figures in Ledger Summary, Trial Balance and Sales tax report, you will need to utilize the revenue recognition report.
In this report there are three types of entry:
Transaction entry - Any time you take a payment or issue a refund this will generate either a positive or a negative transaction event.
Redemptions entry - When an item is redeemed this will show as a redemption event
Expiration expiration entry - If an item is no longer valid and has not been redeemed, this will show as an expiration event on the expiry date.
Every single ticket is broken down to each line and it will always have a positive and negative entry, which will balance out.
In this example I’m going to try & see what transaction & revenue entries make up the ledger summary figures for the “Jumptime” GL Code for the month of July.
In the Ledger Summary Report I can see that the total funds collected is $4,837.90 funds collected, $439.81Tax collected, $5263.55 net revenue & tax payable of $526.35
I can then navigate to the Revenue Recognition report and filter for the same date range. For this example, I will also group by column headings “GL Code” & “Entry Type”. From here I will export to Excel so it maintains these column groupings.
Once exported, find the “Jumptime” GL code & then collapse to reveal the different entry types.
To reconcile the total funds collected & tax collected I need to collapse the transaction grouping & sum the the funds received column & tax collecte column.
As you can see these figures reconcile with the trial balance for the same period.
To reconcile the net revenue & tax payable figures, collapse the redemption & expiration groupings & sum the relevant figure.
As you can see these figures reconcile with the trial balance for the same period.
You can use a similar method to find out how revenue for a particular booking was accounted for in ROLLER.
In the example I’m going to attempt to see how ROLLER accounted for a booking where full payment occurred on the 25th of August & it was also checked in on the same day.
To find this information within the revenue recognition report you just need to filter a date range that will include any transactions and redemptions and/or expirations connected to the booking & export.
Once exported you will need to filter the booking column by the booking ID.
Here you can see positive funds received entries & negative deferred revenue entries broken down across both tickets in the booking.
Then you can see corresponding negative deferred revenue entries & positive net revenue entries when the tickets were redeemed.
