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Step 3: Journal Entry Steps Recognizing Liability and Revenue:
Recognizing Deposit Liability
Settings > QuickBooks Integration > Journal Entry Setup > Add Journal Entry
•Transaction Type = Tee Booking Liability Received
•Credit Account = Tee Time Deposit
•
Memo = Tee Time Deposit (optional verbiage)
Deposit Applied
Settings 🡪 QuickBooks Integration 🡪 Journal Entry Setup 🡪 Add Journal Entry 🡪
- Transaction Type = Tee Booking Liability Applied
- Debit Account = Tee Time Deposits Applied
- Memo = Tee Time Deposit (optional verbiage)
Recognize Revenue from Liability to Revenue for No-Shows or Cancellations
Settings > QuickBooks Integration > Journal Entry Setup > Add Journal Entry
•Transaction Type = No Show Revenue
•Credit Account = No Show/Cancellation Revenue
•Memo = No Show/Cancellation Revenue