Hospitality
Banquet Deposit Recognition (Event Day)
Converting a wedding or conference deposit into revenue once the event occurs.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Advance Deposits (Banquet) | Liability (-) | 5,000.00 | - |
| F&B Revenue: Banquets | Revenue (+) | - | 5,000.00 |
💡 Accountant's Note
Banquet deposits are held as liabilities for months. On the day of the event, the revenue is finally earned.
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