Operations & Accounting
Get ready to modernize your venue's back office! When you start to look at the breadth and depth of new capabilities you'll immediately start thinking about the new possibilities we're offering you: automatic emails, approvals, roles and security, dashboards, and perfect integration to all parts of the organization. The set of capabilities we offer is simply breathtaking: complete event accounting, settlement, financial reporting, employee timekeeping, and deferred revenue management. These are only a few of the module suites you'll enjoy -- there's even more when you're ready.
Modern Event Management
Because VenuMax is highly integrated, you’ll be able to instantly bring all initial event accounting from the contract over into the event management module. This will start the detail event accounting without you having to rekey or copy anything. If you manage or receive ticket sales, the event management module will post them to your event’s accounting records as well. The system also stores purchasing commitments, payables and any future (deferred) revenue from facility or equipment use in the event management system.
Use the purchasing module to implement purchase agreements with important suppliers such as food services, ushers, or ticketing management. Control spending with approval levels based on department and spending authority. Streamline all communications via electronic emails to vendors or related parties. Build a history of authorized spending to help control, manage and negotiate improved terms with all suppliers.
Robust Receivables & Collections
Manage the flow of all billings and invoices into receivables. If you handle cash on behalf of customers, you’ll love how the receivables flows into the management accounting of each event – all the way through the settlement process. Run your venue using integrated credit management features for evaluating credit risk by account. You’ll have new tools for reviewing past sales and credit history to help your prospective customers develop realistic expectations for attendance and profitability on any new events.
Effective Revenue Recognition
Implement proper revenue recognition accounting procedures for customer payments received well in advance of event dates. Integrate this into overall financial reporting for your venue so shareholders can see correct separation of liabilities and revenues as large events approach in coming months.
Mobile Travel & Expense Management
Implement modern time reporting and employee expense management procedures to replace the spreadsheets and emails that you may be using today. Use your mobile phone to capture business expenses and automatically complete your employee expense report.
Complete Accounts Payable, Ledger &
Use a modern financial system to manage all month-end accounting, cutoffs, and financial reporting. You’ll love the extensive tools available to make month end easier than ever before:
Spreadsheet upload of journal entires
Recurring and reversing journals
Search, copy and paste old journals from prior months
Use the powerful analysis tools you’ll be provided at no extra cost:
Build in pivot tables for financial analysis
Modern financial report writer for preparing financial reports and board reports, including on-line drill down and analysis
Power BI integration
Flexible dashboards for executive management to keep a close eye on venue operations
If you handle event finances on behalf of your customer, like ticket sales, you’ll benefit from VenuMax’s settlement process that integrates all event costs and revenues against assets held and liabilities paid on behalf of your customer. You’ll provide the customer with a clean well-described accounting of everything that occurred on their performance. And all this is packaged into a neat, electronic format -- with complete auditability of all transactions, down to the source. The final settlement folds cleanly into a single disbursement or receivable invoice needed to settle the event.