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Liability Ledger Updates for Prepaid Sales
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Managing Liabilities for Memberships, Packages, and Gift Cards in Zenoti
Step 1: Understand Liability in the Context of Advance Payments
Step 2: Identify Items Tracked as Liabilities in Zenoti
Step 3: Apply the Accrual Basis for Liability Recognition
Step 4: Record Liability Based on Value for Stored-Value Items
Step 5: Follow Zenoti’s Rules for Liability Calculation by Item Type
Step 6: See Example – Membership with Service Benefits (Sale Amount Basis)
Step 7: See Example – Gift Card or Amount Credit (Value Basis)
