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Intersite Accounting
Making Transfers Automatic.

For multisite facilities, intersite transfers are critical to both balanced books and customer service. CSI Intersite Accounting makes the process easy, with automated features for making both accurate and speedy transfers between facilities.

Your customers are now more mobile and informed, getting more mileage out of their memberships. Whether on the road or just looking for a fresh environment, your members want to take their benefits with them, buying products and redeeming services at multiple locations within your club footprint. This increased flexibility is great for marketing, but creates an accounting problem for inventory products, series sales offerings and gift cards. We designed a solution.

Intersite Accounting enables your staff to properly charge a member account created at another club. And because series sales and gift cards are typically one-time purchases made at a specific location, your accounting will now reflect the proper transfer of funds from one location to another. Intersite Accounting always keeps cash and revenue in the right places. More control, better transparency and cleaner accounting, Intersite Accounting is a pain-free solution for managing key sources of revenue within multiple sites.

Get all your clubs on the same accounting page.

Intersite Accounting in Action

Intersite A/R Transfers

Utilize an intersite A/R transfer when a member holds an A/R balance at one of your sites (site 1), but makes a purchase at different site (site 2). During the billing process, the member’s auto pay is drafted and will reflect cash from the purchase at site 1. An A/R transfer will move the cash to site 2, where the actual revenue resides.
Create an intersite A/R transfer account, or asset, and an intersite accounts payable transfer account*, or liability, in your general ledger. Also select these accounts in the financial system setup screen. After completing a transaction, SpectrumNG will automate the following steps:

After posting A/R to G/L for a given period, you can view all intersite A/R transfers and all intersite A/P transfers for each site in the posting report. Use your A/P software to write checks – or transfer funds – from site to site based on the owed amount. Then credit your cash account and debit your A/P transfer account through your chosen accounting software, as SpectrumNG does not accomplish this. After your applicable sites receive payment, they will debit cash accounts and credit intersite A/R transfer accounts, indicating any owed balances have been paid.

Intersite Series Sales Transfers

Use an intersite series sales transfer when a customer buys a series sales item at one location, but redeems it at a different location. In this case, site 1 owes site 2 cash for products sold or services rendered.

This process is similar to an intersite A/R transfer. And when a deferred series sales product is sold, SpectrumNG debits the applicable cash account and credits the deferred revenue account at the site the product or service was sold. When members redeem sessions at a secondary site, SpectrumNG does the following:

Again, after posting A/R to G/L for an accounting period, you can view all intersite series sales receivables and all intersite series sales payable for each given site as part of the posting report. And transfer of funds between facilities works the same as an intersite A/R transfer.

Intersite Gift Card Transfers

SpectrumNG also supports gift cards purchased at one location, but redeemed at another location. The gift card transfer accounting process mimics the intersite series sales transfer process**. Follow the above steps and ensure an accurate and timely transfer. SpectrumNG keeps things simple and uniform for managing intersite transactions.

Notes:

* It is possible to create one intersite receivable transfer account and one intersite payable transfer account for all three above scenarios. However, CSI recommends creating separate accounts for easier reconciliation and auditing.

** By accepting cash at one time, then recognizing revenue for that cash when a gift card is redeemed, gift cards become a form of deferred revenue. This makes the accounting process similar to intersite series sales transfers.