Concession balance report

The Concessions balance report shows you the value of outstanding Concessions at a specific date. It can be found in the Kitomba reports tab.

What is the Concessions balance report for?

The way Kitomba accounts for revenue from Concessions changed in the 2017 Concessions update to recognise revenue from concessions at the time of redemption. Previously it was recognised at the time a Concession was sold.

Depending on how you run your business, this may have affected your tax and commission / bonus calculations.

Concessions sold prior to your business receiving the Concessions update, but redeemed after, may be included twice in your tax and/or commission / bonus calculations.

The Concessions balance report can be run and used in conjunction with your accountant, tax or financial advisor to help ensure your tax and commission / bonus payments are correct.

To run the Concessions balance report

1. You can choose to run this report for tax or commission / bonus calculation purposes:

• Tax: To ensure you don’t pay tax on both the sale and the redemption of previously sold concessions:
  • For the Date, enter the date you last paid tax, prior to receiving the Kitomba update. This date is specified above the ‘date’ selection.
  • For View by, select ‘Business’.

• Commission / bonuses: To ensure you don’t pay commission / bonuses on both the sale and the redemption of previously sold concessions:
  • For the Date, enter the date you last paid commission / bonuses, prior to receiving the Kitomba update. This date is specified above the ‘date’ selection.
  • For View by, select ‘Staff’.

2. Run the report:

• If you run the report to View by: Business, the report will give you the total value of unredeemed Concession visits:

• If you run the report to View by: Staff, the report will give you the value of unredeemed Concessions visits for each staff member:

3. Your accountant, tax or financial advisor will be able to use this report to ensure your tax and commission / bonus payments are correct.

For more information and assistance on Concessions and your tax or commission / bonus payments, please contact your accountant, tax or financial advisor.