{"id":8881,"date":"2023-04-30T07:29:35","date_gmt":"2023-04-30T07:29:35","guid":{"rendered":"https:\/\/docs.daftra.com\/user_manual\/%d8%aa%d9%88%d8%b2%d9%8a%d8%b9-%d8%a7%d9%84%d8%a5%d9%8a%d8%b1%d8%a7%d8%af-%d8%a7%d9%84%d9%85%d9%82%d8%af%d9%85-%d8%a8%d8%b4%d9%83%d9%84-%d8%af%d9%88%d8%b1%d9%8a-%d8%a8%d8%b7%d8%b1%d9%8a%d9%82%d8%a9\/"},"modified":"2023-12-14T10:47:00","modified_gmt":"2023-12-14T10:47:00","slug":"distributing-derferred-revenue","status":"publish","type":"user_manual","link":"https:\/\/docs.daftra.com\/en\/user_manual\/distributing-derferred-revenue\/","title":{"rendered":"Distributing the Deferred Revenue Automatically on a Recurring Basis through the System"},"content":{"rendered":"<section class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_custom_heading text=&#8221;In many occasions, we might need to record an advance revenue, and then distribute its value on a recurring basis based on the revenue account it&#8217;s linked to in a specific period.&#8221; font_container=&#8221;tag:h3|font_size:18|text_align:left|color:%2304306b&#8221; use_theme_fonts=&#8221;yes&#8221; css=&#8221;.vc_custom_1701348183781{margin-left: 0px !important;}&#8221;][vc_column_text css=&#8221;.vc_custom_1701348241837{margin-left: 0px !important;}&#8221;]Example: If you are a property owner and you receive the annual rent in advance, say 12,000 Riyals,<\/p>\n<p>the journal entry would be as follows:<\/p>\n<blockquote>\n<ul>\n<li><strong>12000 from Account\/Treasury<\/strong><\/li>\n<li><strong>12000 to Account\/Advance Payments<\/strong><\/li>\n<\/ul>\n<\/blockquote>\n<p>After recording the advance revenue, we need to record the revenue for each month separately to reflect the monthly profitability. The accrual entry for each month would be:<\/p>\n<blockquote>\n<ul>\n<li><strong>1000 from Account\/Advance Payments<\/strong><\/li>\n<li><strong>1000 to Account\/Rental Income<\/strong><\/li>\n<\/ul>\n<p>and then repeat this process monthly until the advance revenue amount is exhausted.<\/p><\/blockquote>\n<p>Therefore, in the following steps, we will define how to perform this process in a recurring <strong>&#8220;automatic&#8221;<\/strong> manner through the program.[\/vc_column_text][vc_custom_heading text=&#8221;Firstly: Creating a New Treasury and Linking it to the Deferred\/ Advance Revenue Account&#8221; font_container=&#8221;tag:h3|font_size:22|text_align:left|color:%2304306b|line_height:2&#8243; use_theme_fonts=&#8221;yes&#8221;][vc_column_text css=&#8221;.vc_custom_1701348398120{margin-left: 0px !important;}&#8221;]<\/p>\n<ol>\n<li>Click on <strong>&#8220;Accounting&#8221;<\/strong> from the main menu.<a href=\"https:\/\/docs.daftra.com\/wp-content\/uploads\/2023\/03\/2023-03-29_13h09_18.tif\"><img decoding=\"async\" class=\"alignnone size-full wp-image-2512\" src=\"https:\/\/docs.daftra.com\/wp-content\/uploads\/2023\/03\/2023-03-29_13h09_18.tif\" alt=\"\" \/><\/a><\/li>\n<li>Click on <strong>&#8220;Accounting Settings&#8221;<\/strong>.<\/li>\n<li>Click on <strong>&#8220;Accounts Routing&#8221;<\/strong>.<\/li>\n<li>Select <strong>&#8220;Treasury&#8221;<\/strong> from the menu on the left side.<\/li>\n<li>Choose the routing type <strong>&#8220;Specify per each&#8221;<\/strong> instead of <strong>&#8220;Automatic Account Routing&#8221;<\/strong> as shown below.<\/li>\n<\/ol>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-8886 size-full\" src=\"https:\/\/docs.daftra.com\/wp-content\/uploads\/2023\/04\/2023-11-30_14h31_47-1.png\" alt=\"\" width=\"1479\" height=\"271\" srcset=\"https:\/\/docs.daftra.com\/wp-content\/uploads\/2023\/04\/2023-11-30_14h31_47-1.png 1479w, https:\/\/docs.daftra.com\/wp-content\/uploads\/2023\/04\/2023-11-30_14h31_47-1-300x55.png 300w, https:\/\/docs.daftra.com\/wp-content\/uploads\/2023\/04\/2023-11-30_14h31_47-1-1024x188.png 1024w, https:\/\/docs.daftra.com\/wp-content\/uploads\/2023\/04\/2023-11-30_14h31_47-1-768x141.png 768w\" sizes=\"auto, (max-width: 1479px) 100vw, 1479px\" \/>[\/vc_column_text][vc_custom_heading text=&#8221;Adding a New Treasury and Linking it to the Sub-Account&#8221; font_container=&#8221;tag:h4|font_size:22|text_align:left|color:%2304306b|line_height:2&#8243; use_theme_fonts=&#8221;yes&#8221;][vc_column_text css=&#8221;.vc_custom_1701355369096{margin-left: 0px !important;}&#8221;]<\/p>\n<ol>\n<li>From the main menu, click on <strong>&#8220;Finance&#8221;<\/strong>.<\/li>\n<li>Click on <strong>&#8220;Treasures and Bank Accounts&#8221;<\/strong>.<\/li>\n<li>Click on the <strong>&#8220;Add Treasury&#8221;<\/strong> button.<\/li>\n<li>In the Add Treasury screen, fill in the treasury details as follows:<\/li>\n<li><strong>Status:<\/strong> Choose &#8220;Active&#8221; to activate the treasury or &#8220;Inactive&#8221; to deactivate it.<\/li>\n<li><strong>Treasury Name:<\/strong> Write the name of the treasury as you want it to appear in the program&#8217;s lists and windows.<\/li>\n<li><strong>Description:<\/strong> Add a general description of the nature or specialty of the treasury.<\/li>\n<li><em><strong><u>Account:<\/u><\/strong> <strong><u>Delete the phrase &#8220;Default Account&#8221; and then select the sub-account specific to &#8220;Deferred Revenue&#8221; account<\/u><\/strong>.<\/em><\/li>\n<li><strong>Permissions:<\/strong>\n<ul>\n<li><strong>Deposit:<\/strong> Select from the dropdown menu the deposit permission in the treasury for a specific employee, job role, specific branch, or all.<\/li>\n<li><strong>Withdrawal:<\/strong> Select from the dropdown menu the withdrawal permission from the treasury for a specific employee, job role, specific branch, or all.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p>[\/vc_column_text][vc_custom_heading text=&#8221;Secondly: Adding an Income of the Value of the Deferred Revenue&#8221; font_container=&#8221;tag:h3|font_size:22|text_align:left|color:%2304306b|line_height:2&#8243; use_theme_fonts=&#8221;yes&#8221;][vc_column_text css=&#8221;.vc_custom_1701349313940{margin-left: 0px !important;}&#8221;]<\/p>\n<ol>\n<li>Click on <strong>&#8220;Finance&#8221;<\/strong> from the main menu.<\/li>\n<li>Click on <strong>&#8220;Incomes&#8221;<\/strong>.<\/li>\n<li>Click on the <strong>&#8220;New Income&#8221;<\/strong> button.<\/li>\n<li>Enter the income data as follows:\n<ul>\n<li><strong>Amount:<\/strong>\n<ul>\n<li>Enter the value or amount of the revenue.<\/li>\n<li>Select the currency of the income voucher to be recorded.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Description:<\/strong> Enter any notes or additional guidance that describe the revenue.<\/li>\n<li><strong>Code Number:<\/strong> It is a serial number that distinguishes the income voucher, and you can change the number and control the format of the series through <strong>&#8220;<a href=\"https:\/\/docs.daftra.com\/en\/tutorial\/setting-up-auto-numbering-settings\/\" target=\"_blank\" rel=\"noopener\">Auto Numbering Settings<\/a>&#8220;<\/strong> in the account.<\/li>\n<li><strong>Date:<\/strong> Select from the calendar the date of adding the income voucher to the system.<\/li>\n<li><b>Attachments:<\/b> You can attach a picture of the income by clicking the <strong>&#8220;Upload&#8221;<\/strong> button and selecting the picture from your device, or through drag and drop.<\/li>\n<li><strong>Received By:<\/strong> Select the recipient of the income voucher.<\/li>\n<li><strong>Category: <\/strong>Select one of the categories from the dropdown menu or add a new category for income vouchers.<\/li>\n<li><strong>Treasury:<\/strong> Select the treasury or bank account that will receive the revenue, from the treasuries or bank accounts added to the account. For more details on how to add a new treasury\/bank account, you can review the guide &#8220;<a href=\"https:\/\/docs.daftra.com\/en\/tutorial\/adding-a-treasury-bank-account-in-your-daftra-account\/\" target=\"_blank\" rel=\"noopener\"><strong>Adding a Treasury\/Bank Account<\/strong><\/a>&#8220;.<\/li>\n<li><em><strong><u>Journal Account: Select the Deferred Revenue account in the &#8220;Journal Account&#8221; field, for example: Advance Payments Account<\/u><\/strong><\/em><\/li>\n<li>Click on <strong>&#8220;Add Taxes&#8221;<\/strong> to assign tax to the income voucher if applicable.<\/li>\n<li>Select <strong>&#8220;Assign Cost Centers&#8221;<\/strong> to link all or part of the revenue value with one of the cost centers in the account.<\/li>\n<\/ul>\n<\/li>\n<li>Click the <strong>&#8220;Save&#8221;<\/strong> button to issue the income voucher.<\/li>\n<\/ol>\n<p>[\/vc_column_text][vc_custom_heading text=&#8221;Thirdly: Adding a Recurring Income Voucher for Distributing the Revenue of each Month&#8221; font_container=&#8221;tag:h3|font_size:22|text_align:left|color:%2304306b|line_height:2&#8243; use_theme_fonts=&#8221;yes&#8221;][vc_column_text css=&#8221;.vc_custom_1701349552445{margin-left: 0px !important;}&#8221;]<\/p>\n<ol>\n<li>Click on <strong>&#8220;Finance&#8221;<\/strong> from the main menu.<\/li>\n<li>Click on <strong>&#8220;Incomes&#8221;<\/strong>.<\/li>\n<li>Click on <strong>&#8220;New Income&#8221;<\/strong>.<\/li>\n<li><strong>Ensure that you select the &#8220;Rental Income&#8221; account, for example, in the &#8220;Journal Account&#8221; field<\/strong><\/li>\n<li><strong>In the treasury field, make sure to select the treasury that was created and linked to the Deferred Revenue account as previously explained.<\/strong><\/li>\n<li>Click on the <strong>&#8220;Recurring&#8221;<\/strong> checkbox.<\/li>\n<li>Set the <strong>&#8220;Recurrence&#8221;<\/strong> duration, whether <strong>Weekly<\/strong>, <strong>Monthly<\/strong>, or <strong>Yearly<\/strong>. In the case of the example mentioned above, select <strong>&#8220;Monthly&#8221;<\/strong> recurrence to deduct the amount every month on the specified date<\/li>\n<li>Select from the calendar the <strong>&#8220;End Date&#8221;<\/strong> when the repetition of the income voucher stops and the total amount of the deferred revenue has indeed been distributed<\/li>\n<li>Click on the <strong>&#8220;Save&#8221;<\/strong> button.<\/li>\n<\/ol>\n<p>[\/vc_column_text][vc_message message_box_style=&#8221;3d&#8221; message_box_color=&#8221;alert-warning&#8221; css=&#8221;.vc_custom_1701349615399{margin-left: 0px !important;}&#8221;]<\/p>\n<blockquote>\n<blockquote><p>Once you complete the previous steps, the program will monthly distribute the rental income valued at 1,000 Riyals each month until the end date of the recurrence is reached.<\/p><\/blockquote>\n<\/blockquote>\n<p>[\/vc_message][\/vc_column][\/vc_row]<\/p>\n<\/section>","protected":false},"author":17,"template":"","categories":[2118,2108,2121],"tags":[4892,3885,4889,4887,4893,4891,4890,4888,1501,4886],"class_list":["post-8881","user_manual","type-user_manual","status-publish","hentry","category-finance","category-accounting","category-incomes","tag-advance-incomes","tag-advance-payment","tag-advance-revenues","tag-deferred-revenues","tag-paid-in-advance","tag-recurring-income","tag-recurring-revenue","tag-unearned-revenues","tag-1501","tag---en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Distributing the Deferred Revenue Automatically on a Recurring Basis through the System - Daftra Knowledge Base<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/docs.daftra.com\/en\/user_manual\/distributing-derferred-revenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Distributing the Deferred Revenue Automatically on a Recurring Basis through the System - Daftra Knowledge Base\" \/>\n<meta property=\"og:description\" content=\"[vc_row][vc_column][vc_custom_heading text=&#8221;In many occasions, we might need to record an advance revenue, and then distribute its value on a recurring basis based on the revenue account it&#8217;s linked to in a specific period.&#8221; 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