Depositing a "Net Revenue" Check
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We produced a play at a local theater. The theater management sent us a check for the ticket sales, MINUS various fees for renting the venue, box office overhead, etc.
We need to enter/track our full ticket sales, however, and not just a net check amount.
How do we do this?
Answer
There are a bunch of ways to do this, but probably the simplest (if you aren't already using Sales Summary receipts):
On the Make Deposit window, enter the full amount of tickets sold and post to sales. Then enter each expense as a negative, posting "from" as the expense account for the various expenses. Think of the Make Deposit screen as a worksheet, enter the specifics and the net result is the deposit amount.
Another way is to deposit the full sales, then also write a check on the same date, to list the expenses. These offset each other with the net as your deposit.
