Deferred Income in iMIS

iMIS Deferred Income is an extension of the iMIS GL interface capabilities available for selected third-party GL software. This subsystem works in combination with AR/Cash, Billing, Events, Exhibitions, and Expositions. It allows your organization to postpone recognition of real income to a future point in time, when the billing period actually begins.

To enable this option, open the System Setup window (select File> System Setup) and edit your iMIS licensing to enable Deferred Income.

The deferred income feature is transparent to the user. If your iMIS system is licensed to run the Deferred Income module and the GL interface, deferred income tracking and processing can be automatically triggered for dues/subscription items, event registrations, and exhibition/exposition orders after your setup is complete.

The following terms are unique to the deferred income process.

Deferred income

Money that is credited to a liability account until it is recognized and transferred to the regular income account.

Earned income

Income that is recognized during a specific accounting period.

More:
Working with deferred income
Enabling deferred income processing
Processing deferred income transactions
Converting existing deferred income items
Deferred income reports