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FAQ – Finances & Funds

Finances & Funds

A deferred account is an account that is recognizing revenue in a future period. These accounts are used for registrations and other revenue that is collected prior to July 1 each year for use in a season subsequent to that date, a fall season. This can be used for sponsorship for a fall team that is also collected prior to July 1.

Revenue recorded in the following NAP accounts will be taxable in several states; codes 4010 (Merchandise revenue), 4012 (T-shirts revenue), 4024 (Concessions revenue), 4027 (Concessions – Packaged).  The same is true for Expense codes that are noted in the memo section of each check.  The expense codes that are noted in the memo section of each check are entered into AYSO’s financial system which is used to create reports to calculate the fees due and file each state’s sales tax return.  The taxable expense codes are; 5105-5108 (Uniforms-NO TAX PAID), 5130 (Equipment) and 5135 (Equipment – NO TAX PAID).  It is critical that expenses are being coded to the proper code to insure accurate tax filings and fees.  To verify the taxable codes for your state, email salestax@ayso.

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