Additional Revenue and Expenses
Permissions needed: Venue-Specific Access > Finances > Edit Additional Revenue
Additional revenues and expenses offer a way to recognize income and costs on an event outside of those that are to be invoiced to a customer. This assists in viewing the full event value and producing complete event P&L reports. As such, additional revenue and expense entries can be tied to revenue streams and GL codes.
Once added, the values will be seen in the actuals columns of the Revenue Stream Summary on the Financials tab and also listed as additional revenue in the totals card, below the client total but above the event total.
Examples of commonly used revenues (where attendees have already paid for these goods or services):
- Parking revenue
- Bar revenue
- Merchandise revenue
Example of commonly used expenses (event related costs incurred by the venue):
- Marketing costs
- Utility costs
- Administration costs
If you are using Live Entertainment performance revenue types and those revenue types are linked to revenue streams, then performance revenues will be included in the additional revenue amounts on Financials > Summary (see above).
- Add Additional Revenues/Expenses
- Edit Additional Revenues/Expenses
- Remove Additional Revenues/Expenses
Add Additional Revenues/Expenses
- Go to the Event Details page > Financials > Details.
- Click the + add icon on the Additional Revenue/Expense card.
- On the Create Additional Revenue/Expense slider you can:
- Add a description
- Add a revenue stream for reporting
- Add cost to venue. A value is required in this field, but you may enter zero.
- Add revenue. A value is required in this field, but you may enter zero.
- Add a GL code for reporting purposes
- Click Save.
Edit Additional Revenues/Expenses
- Click the revenue/expense you want to edit.
- In the Edit Additional Revenue/Expense slider, update the information as needed.
- Click Save.