Budget variance report for inpayments against budget
Posted: 10 Oct 2015, 12:05
A sports club uses Sage Instant. Its income is mainly subscriptions. Subscribers are set up as customers in the sales ledger, and dummy invoices raised and paid when annual subscriptions are received. Budgets are set against nominal codes for the various subscription types.
A few subscribers pay their annual subscription by installments so are debtors for most of the year. A few others indicate that they will subscribe, we raise a suitable invoice, but then they either don’t pay or underpay. All very standard stuff.
Some years ago the club handled subscriptions as simple bank in-payments (so had no idea of what subscribers had committed to pay) but were – rightly - persuaded to run a sales ledger.
The finance committee uses the budget variance report as their main monitoring tool, but have now asked also for a version of the budget variance report which shows subscription payment totals against budget (as opposed to subscription invoice totals against budget). My initial reaction was to tell them to use an aged debtors report along with the normal budget variance report. But is there a better or more correct way to give them what they want ?
A few subscribers pay their annual subscription by installments so are debtors for most of the year. A few others indicate that they will subscribe, we raise a suitable invoice, but then they either don’t pay or underpay. All very standard stuff.
Some years ago the club handled subscriptions as simple bank in-payments (so had no idea of what subscribers had committed to pay) but were – rightly - persuaded to run a sales ledger.
The finance committee uses the budget variance report as their main monitoring tool, but have now asked also for a version of the budget variance report which shows subscription payment totals against budget (as opposed to subscription invoice totals against budget). My initial reaction was to tell them to use an aged debtors report along with the normal budget variance report. But is there a better or more correct way to give them what they want ?