Revenue by Type report

The Revenue by Type report shows how much money you collected within a specific date range, using the concepts of accrual accounting to display deferred and recognized revenue.

To locate this report, go to the Reports section of your Dashboard and select Sales from the menu, then select Revenue by Type.

Important notes and terminology

Recognized and Deferred Revenue

• Money is deferred, or unearned, when it is taken for a future booking.
• Money is recognized, or earned, when the booking that it was for happens.

Example: A customer pays you $100 today for an activity they will join you for in two days. That $100 is deferred, because you have not earned it yet. After they do their activity the money is recognized, because you have earned it.

What ‘collected’ means

Money is collected in FareHarbor on the date and time when you (or one of your employees or affiliates) clicks the Add payment button on a booking and enters a payment.

Credit card charges are counted as collected on this date, not the date that the money was deposited to your bank account. Affiliate payments are also counted as collected in the same way, usually when the booking is first created.

Report date range

When you set the date range for running this report, you’re primarily setting it to report on payments that were collected in that date range. However, the date range is also used to filter when bookings happened for “Recognized Revenue”. (See the next section.)

Filter and display options

Split into payments and refunds

Checking the “Split into payments and refunds” box above the report splits the Gross column into payment and refund amounts. Doing this also allows you to click in and see the individual payments and refunds that make up the amounts.

Filter by user

You can filter the report to only include revenue collected by a particular user by setting the option in the Filters menu when you create the report.

Report columns

Recognized and deferred groups

• Recognized Revenue: previously collected (P): Money you collected before the start of date range for bookings that happened within the date range.

  Example: If your report is for March 10th – March 11th, “Recognized Revenue: previously collected (P)” shows any money you collected on March 9th or before for bookings on March 10th or 11th.

• Recognized Revenue: collected (C): Money you collected within the date range for bookings that happened by the last day of the date range.

  Example: If your report is for March 10th – March 11th, “Recognized Revenue: collected (C)” shows any money you collected on March 10th or 11th for bookings on or before March 11th.

• Deferred Revenue: collected (D): Money you collected within the date range for bookings happening after the date range.

  Example: If your report is for March 10th – March 11th, “Deferred Revenue: collected (D)” shows any money you collected on March 10th or 11th for bookings on March 12th or after.

Other columns

Each of the above columns have two numbers under them:

• Gross: The gross of all the payments; payments minus refunds.
• Fee: The amount that withheld from the Gross for credit card processing when it is deposited to your bank account.

Using the Revenue report to answer common questions

How much money did I collect last week?

Generate the Revenue by Type report for the week you want to see. Scroll to the bottom of the report (Payment type: All), and find the Total Collected (C+D) amount.

You can also see how much of a specific payment type you collected by viewing the Total Collected (C+D) amount under that individual payment type.

How many bookings for Activity X were paid in cash?

Generate the Revenue by Type report for your preferred date range. Use the first column of the report to find the payment type you want to see (in this example, cash). To see the cash revenue for a specific item, find the item name in the second column, and refer to the Recognized Revenue: collected (C) and Deferred Revenue: collected (D) columns.

To see the cash revenue for all items, refer to the Total Collected (C+D) sum amount at the bottom of the cash section.

How can I see taxes collected for all payments last year?

First, generate the Revenue by Type report for your preferred date range. After generating the report, navigate to the “Recognized revenue: collected” row, and click the arrow next to title .

This leads to a more granular report that shows a “Taxes” column, as well as other additional data. You have the ability to further customize by selecting the “Tax by type” checkbox, which will display each tax type you collected in its own column. Learn more about tax types on your Dashboard here.

Click the icon to download the report. You can then open the file in Excel or a similar program to calculate the sum of the tax column.

How can I view credit card processing fees for last year?

To view credit card fees for a specific date range, generate the Revenue by Type report for the date range you want to see (for example, January 1st, 2016 – December 31st, 2016). All credit card fees collected within that timeframe will be shown in red.

Be sure to note whether you want to include deferred and/or recognized revenue.

What was the gross volume of card transactions processed last year?

Total gross volume is a measure of all money that passed through your FareHarbor account, before any adjustments were made for fees or refunds. You may see this number on your 1099-K form, if you received one.

Generate the Revenue by Type report for the date range you want to see (for example, January 1st, 2016 – December 31st, 2016). You’ll want to check the box next to Split into payments and refund, and uncheck the box for Include previously collected revenue. Locate the Collected payments (C+D) row under the credit card payment type to see your total gross volume.

How much money did I collect in 2017 for bookings in 2018?

Run the Revenue by Type report for January 1st 2017 – December 31st 2017, then scroll down to the “All” section at the bottom of the report. Look for the bold total in the Gross column of Deferred Revenue: collected (D).