Kevin reviewed our membership and Affiliate terms and brought to our attention that GAAP recommends we recognize income each month for membership - as benefits ongoing monthly and sponsorship fees in the month they are spent. I contacted @Jim Woodhead and he agreed to the changes.
Membership fees will be recorded to deferred income membership and rebooked each month 1/12 rate to income account(s).
Sponsorship fees will be recorded to deferred sponsorship income and rebooked, this year to Feb. 2020, when spent.
Kevin will reissue the November statements.
All in all, these changes will reduce our 2019income, moving some income to 2020 but smooth out the 2020 Financials.
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Moira Goggin
Executive Director
90 Minds, Inc.
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