The Deferred Payment Method video discusses the accounting approach that uses deferred payment (escrow) accounts for registrations. Briefly, since registration and payment usually take place long before the service is delivered, the payments may be set aside in deferred accounts until after the event when the payment can be recognized. In the deferred payment method, only payments are batched out to deferred GL accounts. All charges are held within CircuiTree and not posted to the GL until the event is actually over. At the conclusion of the event, an End of Event process is run to post the charges (now earned) and shift any deferred payments into an accounts receivable GL account.
0:00 – 0:59 Introduction
0:59 – 2:23 Pre-Event Deferred Payments Model
2:23 – 3:00 Post-Event Deferred Payments Model
3:00 – 5:00 End of Event Process