[Solved] How do I record and report Membership pre-payments

How do I record and report Membership pre-payments

1. Create (or import) Membership payment (Receipt transaction) against your Member(s) to record the  membership pre-payment made into your bank account.
    
2. Then, total up the pre-payment amounts and create an equivalent Revenue Prepayment (Receipt) transaction with the same Date and Cost Code, but select a Creditor A/c and, importantly, enter the total pre-payment amount as a negative value eg. £-250 (minus £250) ? This will offset the value of transactions in 1) so that your P&L shows zero revenue in the current year - it will also create a liability balance in your BS.
    
3. In the following year, open and Reverse the Revenue Prepayment transaction in 2) ? This will show the membership revenue in next year's P&L and clear the liability (Creditor A/c balance).