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I make a journal entry at the beginning of the school year debiting A/R and crediting Deferred Tuition then I allocate 1/12 monthly to Tuition revenue. How do I make entry for discounts, financial aid, scholarships if I too want to allocate over 12 mont

We are a private non profit high school.

Answers

Monika Pagano
Title: Director of Finance
Company: NDHS
(Director of Finance, NDHS) |
Len Green
Title: Performance Improvement Consultant and E..
Company: Haygarth Consulting LLC
LinkedIn Profile
(Performance Improvement Consultant and ERP Strategist, Haygarth Consulting LLC) |

If you are trying to match the discounts etc the same way as tuition income, then it's simply a mirror image JE:
Debit Deferred Expense/Credit AR
and release monthly to Expense (really an offset to gross Tuition revenue)

Anonymous
(Director of Finance) |

Thank you..would my deferred expense be set up as an asset account?

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