Is your course allowing golfers prepayment for a tee time that will be played on a future date? If so, you’ll be (almost) as excited as we are about the latest addition to the foreUP system.
This change will add a new payment type in your z-out report, so it’s important that you understand the change and make any necessary adjustments (explained below.) We will be rolling this feature out to all courses this coming Feb 2nd. You can request early access by calling your account manager or emailing email@example.com.
Changes to Prepaid Functionality
Prior to this update, a struggle with prepaid booking was that the revenue you collected showed up on the day you collected it – not on the day the round is actually played. This update will adjust prepaid tee times to accurately be represented on the date the revenue should be reflected.
Prepaid tee times for a future date will now create two transactions simultaneously:
1. A transaction sale on the date of the booking
2. A posting sale on the date of play
This new feature will add an extra level of transparency and accuracy to the reports you rely on to track your revenue.
Prepayment Sales in Reporting Views
Transaction Sale: This sale will show up in reports on the day the tee time was paid for: the day the payment actually occurred. This transaction will credit the newly created Prepaid Reservation Account — which is an unearned revenue account — and debit the sale.
Posting Sale: This sale will appear in your reports on the day the tee time is actually played, allowing you to count the revenue as earned on the day you truly earned it. This sale will debit the same Prepaid Reservation Account that was originally credited on the transaction date. It will then credit your Sales Revenue Account.
You’ll see the new payment account type in your Z-out reports, Prepaid Reservations. This account is similar to the New Gift Card Issued account, and will show you how many tee times have been prepaid for a future tee time.
*Note: This new feature only affects courses that allow prepayment for tee times. Tee times that are paid at the time of check-in will not change.
Below we have answered some questions you may have about the update. Please give us a call or email accountmanagers@foreUP.com if you have any further questions.
Q: What do I need to do to enable this prepayment feature?
The new prepaid tee time feature will automatically work for all courses, and nothing will have to be done on your end to make sure it is working. It will be enabled for all courses on February 2nd. If you’d like earlier access, reach out to support or your Account manager to get this feature turned on.
Q: Once enabled, will I need to do anything to make sure it works correctly?
Yes! There is one thing you will need to do on your end.
If your course is using the Quickbooks Export feature it will be very important to make sure the new Prepaid Reservation Account is mapped to both the Income and Payment accounts that have created in your accounting system. The income account mapping will appear once you’ve sold your first pre paid tee time using this new feature.
*Note: You will not be able to export your accounting information until this new field is mapped.
Q: Will this new feature correct all prepaid tee times that have been previously tracked in my system?
No. This setting will only affect tee times that are purchased after the date the setting is activated.
Q: Will tee times paid for at the time of check in be affected at all?
No, tee times paid for at the time of check in will only create the original sale. Only prepaid tee times will create both the Transaction AND the Posting sales.
Q: Will carts that are included with prepaid tee times also be handled the same?
Yes, carts that are prepaid will also be included in the prepaid reservation account flow. Revenue will be recognized on the day that the service is earned, not booked.
Q: Will a golfer’s experience change at all with this feature?
No, the customers experience will remain exactly the same. These new changes will only affect the back end office reporting.
Q: What if a golfer wants to cancel/get a refund on a prepaid tee time before the date of their reservation?
With this new feature you will simply perform the refund like any other sale. Simply ask the customer for the date of their tee time or the day they booked their tee time; transaction date or posting date refunds will do the same thing.
Once one of the sales is refunded, the other associated transaction will not allow refunding.
Q: What if a golfer pays for a future tee time in the pro shop?
All prepayments for future tee times will be treated the same: creating two unique sales, and tracking revenue on the day of the tee time.
Q: How can I manage the total amount accumulated in my Prepaid Tee Times Account?
You can use the Quickbooks Export to see how much you have collected in your prepaid tee times account. This account will be debited as soon as the tee time date/time has passed, and earned revenue will be credited.
These two reports will show you a current balance amount. However, you can always run a Z-out, sales, department, or category report for a longer time period to see these balances.
Q: How will my 3rd party bookings be handled?
No need to worry, your 3rd party integrations will also utilize the new prepaid reservations accounts as well. Nothing you’ll have to worry about on this front.
We’re here to help! If you have questions, need guidance, or want to request access to the new feature immediately, reach out to your Account Manager or email accountmanagers@foreUP.com.