How is Event Revenue Calculated?
Event revenue is calculated based on the the event's rental rates, items, and additional revenue. Items include food and beverage, any kind of event service, and labor — anything which is charged to the client. Prices and service charges are included in revenue; taxes are not.
Additional revenue which does not come from the client (such as ticket sales or parking) can be added on the event's Financials > Details tab.
Charges and additional revenue are then allocated to your revenue streams. Revenue streams are added by your account admin during the onboarding process (see this article). While a revenue stream is chosen for additional revenue when it is added to the event, item charges are allocated based on the revenue stream assigned in the inventory library. Rental rates are allocated based on the revenue stream assigned to the room.
Items and rental rates can also be allocated to GL accounts. This is done via the event's price schedule. More information about adding GL accounts is available in this article.
A profit/loss overview is available for each event on the Financials > Summary tab. More detailed revenue reporting is available via Insights reports and dashboards, such as the Sales Revenue Report and the GL Code Item Allocation Report. Contact us and we will work with you to build the reports you need!