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Class and event expenses, with a net per event
Record what a class or event cost, coded to an expense account, and see the net next to what was collected. Nothing is paid from PrismAMS; it is the record your bookkeeping can match.
Associations asked for the other half of event accounting. Revenue was already tracked per registration, sponsor and exhibitor, but instructor fees, honorariums, the room and the food lived in a spreadsheet, so the event never showed a net and the books had to be matched by hand.
- Every event has an Expenses tab. Add a line with a type (instructor fee, honorarium, venue, food and beverage, materials, travel, marketing, other), who it was paid to, the amount, the date, a reference and notes.
- Each line can be coded to an expense account from your chart of accounts, so the event's costs map to the same accounts your accounting system uses.
- The event accounting card now shows collected from all sources, total expenses and net, and the Expenses tab shows the running total.
- Nothing is paid out of PrismAMS. The office pays the way it always has; this is the record.