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      Reports - Liability Detailed Report (Reporting Service)

      This article will show you how to best interpret and use the information provided on the Liability Detailed Report.

      Report Summary 

      • This report shows all open invoices at your park or organization and includes detailed invoice line items and invoice with only deferred revenue. 
      • This report can be downloaded in CSV format. 
      • This report does not separate deferred revenue accounts into separate accounts, it rolls them all up into one displayed as Deferred Revenue. 
      • The date entered when pulling the report will show reservation and transaction data as of that date. 

      Common Report Uses

      • Find out how much pre-paid money your park has collected over a specified date range.
      • Find out how much more money your park may collect in the future based on currently booked reservations.
      • Validate the data on your Accrual Journal Entry.

      Below you'll find detailed instructions on each of the mentioned common uses:

      Using the Liability Detailed Report to find the Amount of Prepaid Money Collected 

      1. Download the Liability Detailed report with today's date. 

      2. Sum all of the Prepaid Deposits from column Q. 

      3. Sum all of the Camp Credit from column T. 

      4. Add the sum of column Q and the sum of column T together. The resulting number is the total amount of prepaid money that you have collected as of the current date. Money for reservations that have already occurred are not included in this amount. 

      Using the Liability Detailed Report to find out how much Money Your Park Will Collect in the Future 

      1. Download the Liability Detailed report with today's date.

      Note: a future date can be used as well and will provide what the accurate outstanding liability would be on that date if no more future reservations were made between now and then. 

      2. Sum all Deferred Revenue from column P. 

      2. Sum all Prepaid Deposits from column Q. 

      3. Subtract the sum of column P (Deferred Revenue) from the sum of column Q (Prepaid Deposits) to get the amount of money you are projected to collect based on currently booked reservations. 

      Note: Prepaid deposits could include refundable deposits that you may have collected on reservations that have not occurred yet. For example, if you collect a refundable cabin security deposit, you will need to consider that when calculating this number. 

      Using the Liability Detailed Report to Validate Your Journal Entry 

      The Audit Trail report is another report that is used to validate the data on an Accrual Journal entry, however, the Audit Trail does not currently include the specific invoice used to determine summary values for Accounts Receivable, Deferred Revenue and Prepaid Deposits which are are all displayed on Accrual Journal Entry reports.

      The specific invoices used to determine summary value for those accounts are included on the Liability Detailed Report so this report can be used to help validate an Accrual Journal Entry report. Certain steps can be taken in Excel to help validate this information. These steps are outlined below. 

      1. Download the desired Accrual Basis Journal Entry report for the specified date range. 

      2. Download the Liability Detailed report for the last day of the previous reporting period. For example, if you are currently looking at the month of August (August 1st-31st) then you should download the Liability Detailed for July 31st. July 31st is the last day before the current reporting period.

      3. Open the Liability Detailed Report in Excel and add a filter to all columns using filters in Excel. 

      4. Filter out the DETAIL records from the 'Row Type' attribute in column L.

      Note: Although it may seem as if we could use the Liability Summary version of this report since we are filtering out the detail records in this step, the summary version should not be used for this purpose. 

      5. Insert a new column after column R. Label this new column AR-DR (this stands for Accounts Receivable minus Deferred Revenue. The AR-DR should go in cell S1. 

      6. In cell S (the first data row number), enter the following formula:

      =R(first data row number) - P(first data row number).

      Note: first row data now may not be cell 2 depending on the results of the filter

      7. Use the Fill Handle function in Excel to execute the above formula for the entire data set. 

      8. Sum the data for each of the following columns: P, Q, R, S, T, and U. 

      9. Download the Liability Detailed Report for the last day of the current reporting period. For example, if the last day of the Journal Entry is August 31st, then you should download the Liability Detailed Report for August 31st. 

      10. Complete steps 3-7 on the current period's Liability Detailed report. 

      10. Subtract the previous period values from the current period values for Deferred Revenue, Prepaid Deposits, Accounts Receivable, AR-DR and Camp Credit. You do not need to do anything with the Taxes column. 

      11. The resulting numbers from the subtraction indicates the change for the given time period and these numbers should match the corresponding summary values on the Accrual Journal Entry report. 

      Reports to Compare With or Supplemental Reports 

      • Accrual Journal Entry Reports 
      • Audit Trail 
      • Liability Summary Report (Reporting Service) 

      Common Report Questions

      Q: What is the difference between the Liability Detailed Report and the Liability Summary Report? 

      A: The Liability Summary report does not include records with a SUMMARY Liability record of zero while the Liability Detailed Report does include those. These records are needed for the workaround described above to validate the data on the Journal Entry.