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Balancing Deferred Revenue Liability

Dockmaster standard reports includes 3 different reports that could be used to balance the deferred revenue liability account(s) on your balance sheet. 

 

  1. Deferred Schedule Report – This report gives you a detailed list of storage invoices with deferred schedules on them and includes the Unposted amount, forced closed amount and future monthly deferred revenue amounts depending on how the report is run.   This report MUST be run PRIOR to posting the deferred revenue for any month after the date you need to run the report for.  You should export this report and keep it as you will not be able to go back and rerun the report in the future.
    1. Marina Management – Billing Functions – Deferred Schedule Report. 
      1. Starting date should be 12 months prior to the date you are running the report.  So if you are running the report to balance 12/31/22 then the starting date should be 12/1/21.   This is because deferred schedules can be for up to twelve months.
      2. Ending date should be the date you are balancing – ie: 12/31/22
      3. Leave the body of the screen unchanged
      4. Starting Deferral Month – If you want to see what the future deferred revenue will be for each month – enter the month you want to start with.  In this example that would be “1” for January.
      5. Number of Deferrals – Enter here how many months in the future you want to see the future deferred revenue that will be recognized – enter 12 if you want to see 12 months, enter 2 if you only want to see 2 months.
      6. Column F would be the column you use to balance to your Deferred Revenue Balance sheet account(s).
      7. If you have multiple GL accounts for deferred revenue, you will have to sort the report by bill code once you have exported it.

**If at any point you run into any issues, feel free to email [email protected] for assistance.**