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Gherk
September 22, 2022
Question

How to record monthly subscribers from a website like Patreon

  • September 22, 2022
  • 1 reply
  • 0 views

I make a portion of my income from Patreon (monthly subscribers from all over the world pay for exclusive content/access to me as a creator) so the money comes in as varying types of currency, but I am paid out in dollars whenever I withdraw the balance.

 

I was just wondering how I go about reporting & recording these payments and/or payouts.

Do I need to record each individual transaction a subscriber has made to the website, or do I just need to focus on the sum total of the payouts I receive?

Sorry if the way I have worded this is confusing.

1 reply

G
GeorgiaC
September 22, 2022

Hi Gherk, thanks for your post 🙂

 

If you haven't already, you may want to create a new Chart of Account so that you can easily track income related to Patreon (select the Cog > Chart of Account > New > Set the account type as Income and then choose the most relevant detail type on the drop-down below > rename > save). 

 

To record receiving this income, create a bank deposit (+ New > Bank deposit > Enter the bank that the money was received to under 'Account' and the date, and then scroll to 'Add funds to this deposit' to enter the income account under 'account' and the total amount). The simplest way would be to record the lump sum as this is paid out, though you can split this over multiple lines on the bank deposit if you would prefer to see the subscriber-breakdown. 

 

Get back to us below if you have any Q's!

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