The Export Deferred Income Transactions process is an optional feature that creates a .csv file for export to an organization’s financial software, creating general ledger entries that move income received through cash type payments that have not yet been flown (i.e. deferred income/liability) from a cash clearing account to a deferred income account. The export file format can be customized by the FlightSpan team for your financial software.
For organizations using this feature, the process can be run at any time, but needs to be run before exporting a billing period’s financial transactions. The export will capture all cash type payments that have been received but not yet been flown.
When a payment that was exported as deferred income is eventually flown, then the normal financial export process at the end of the billing period will create general ledger entries that move the income from the deferred income account to the appropriate flight income account associated with the rate used on the original payment.
First define the accounts used in the deferred income export process by going to Company on the Settings menu, then selecting Payment Types from the Cash/Currency menu in the left side bar.
Select the payment type and then enter the Debit, Credit, and Refund accounts.
With the appropriate cash clearing and deferred income accounts defined for each payment type, you can produce the Deferred Income Transactions export:
Notes:
- The deferred income export will only capture cash type payments that have been deposited. Any unflown, cash type payments that have not been deposited will not be exported.
- There are 3 reports available to view Deferred Income status for your organization:
- The Customer report allows you to see how much outstanding deferred income you have on a per account/customer basis.
- The Deferred Income Summary Report gives the current status of the organization’s deferred income liability
- The Deferred Income Transfer report gives a readable report of the Deferred Income Export file for a given billing period.
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