Understanding the Income Statement
This statement will help you reconcile your invoice and provide you with a breakdown of income by category and payment type for the invoice period.
Please note that the example included here is for organizations on Arts People's merchant account, who receive credit card deposits directly from Arts People.
For clients using their own merchant account, please refer to the below definitions for Credit Card Fees and Credit Card Net to see how your Income Statement will differ from the example.
Category definitions:
Tickets: Tickets are billable items your account sold for shows or other events which were setup using the Season setup screens in your Arts People account. These events can be sold via your account's Box Office screens and/or online ticketing pages.
Retail: Retail items are billable items setup using the Retail setup screen in your Arts People account. They may be items such as T-shirts, meals, or raffle tickets. Retail items may include ticket add-ons.
Donations: Donations are funds donated to your organization. Donations are not subject to AP Fees.
Passes: Passes are items your organization issues to customers which later may be redeemed for tickets. Passes are not charged AP Fees when they are issued to a customer. AP Fees are billed when a customer redeems their pass on tickets to a show.
Please note that redeemed pass income is not reported
on the Income Statement. Redeemed pass information
can be found by show on the Show Income Report.
Gift Certificates: Gift Certificates are items your organization issues to customers which later may be redeemed for tickets, passes, retail items, or enrollments. Gift Certificates are not subject to AP Fees. Please note that redeemed gift certificate income is not reported on the Income Statement. Redeemed gift certificate information can be found by show on the Show Income Report.
Enrollments: Enrollments are items such as classes and workshops sold using the optional Enrollment feature in your Arts People account. Enrollments are not subject to AP Fees.
Patron Fees: These are not fees Arts People charges your organization, but rather miscellaneous fees you may choose to charge your patrons. These fees may include: Per Order fees, Per Order Delivery Fees, Retail Order Fees, and Exchange Fees. These fees are not subject to AP Fees. Please note that the optional Per Ticket Fee you may choose to charge your patrons has been included above in your show income under the Tickets category.
Totals: This section reflects the total taken from each above category in the Income Statement. Combined, they show net income for the invoice period.
Column Definitions:
Count: The number of billable items during the invoice period which incur an AP fee.
AP fees: The fees Arts People charges your organization for each billable item sold in the invoice period. Your AP Fees are detailed on your invoice.
Credit Card Income: Revenue from purchases made with a credit card by your patrons.
Credit Card Fees: Only applicable for organizations on Arts People’s merchant account, who receive credit card deposits directly from Arts People. Your organization's Credit Card Fees are detailed on your invoice. Clients using their own merchant account will need to refer to their provider for credit card fee details.
Credit Card Refunds: Credit card refunds processed within the invoice period.
Credit Card Net: For organizations on Arts People’s merchant account, who receive credit card deposits directly from Arts People, Credit Card Net includes Credit Card Income less AP fees, Credit Card Fees, and Credit Card Refunds. Your total Credit Card Net will reconcile to your deposit from Arts People.
For clients using their own merchant account, Credit Card Net includes Credit Card Income less Credit Card Refunds.
Other Income: Revenue from items paid for with non-credit card payment methods.
Other Refunds: Refunds paid back to the customer using a non-credit card payment method.
Other Net: Other Income less Other Refunds.
Net Income: For organizations on Arts People’s merchant account, who receive credit card deposits directly from Arts People, Net Income includes Credit Card Net plus Other Net.
For clients using their own merchant account, Net Income includes Credit Card Net plus Other Net less AP Fees.
Still have questions about your organization's Income Statement? Please submit a help desk request and assign it to Accounting. We'll be happy to answer your questions.
Your Income Statement accompanies your Arts People invoice. Click here to learn more about your Arts People invoice.