Education
Summer Term Revenue Splitting (Cut-off)
Splitting summer session revenue between two fiscal years based on the number of days in each period.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Deferred Tuition Revenue | Liability (-) | 500.00 | - |
| Tuition Revenue (Current Year) | Revenue (+) | - | 500.00 |
💡 Accountant's Note
If a 10-week summer course has 5 weeks in June (Fiscal Year End) and 5 weeks in July, you must recognize exactly 50% of the revenue in the current year.
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