00:05: All right. Well, thank you all for joining us today. 00:08: My name is Michael, I am the product manager here at Doc 00:12: Network. I'm joined by Maggie, who will introduce in 00:16: just a moment. Actually, don't make me. 00:18: Go ahead and introduce yourself. Yeah, thanks Michael. 00:21: Hello, everyone. I'm Maggie. I'm the interim VP of client experience and 00:26: very happy to be here with Michael to show you a 00:30: bit about our financial control and Reporting projects which 00:34: is a three-phase project. So we have a lot of cool stuff to show you and looking 00:39: forward to Michael kind of doing that, within 00:43: our our test environments. 00:45: You kind of get a sink peek of, what's to come. 00:47: Just pretty cool. Yeah. 00:50: And so. Yeah, absolutely. Thank you Maggie. We have some folks here that are helping 00:54: us out in the background as well. We have Phil Gabby 00:58: and Savannah from the dark Network team who will be supporting us through chat. 01:03: Any questions that you may have throughout. Today's webinar will be answered by that group 01:07: or maybe even Maggie and myself. 01:09: So we're going to just start with a quick survey, it just popped 01:14: up on your screen as we talked about today is all about financial control and 01:18: Reporting and the updates that we've made thus far. 01:22: So we're just curious to know what your level of financial expertise may 01:26: be. Or context. 01:30: I come from a fintech company background. 01:32: So I would say I'm in the moderate to Advanced 01:36: experience but looking like we've got some great responses coming in. 01:51: Right. It's like we're almost got 01:55: 100% of the responses. Thank 02:01: you for. 02:03: Clarification, we're all Learners. Yes, Financial technology or fintech 02:07: is the background, but we're here to talk about EHR 02:12: software for schools and camps. So, Some other words for 02:16: us. Looks like we're still waiting on a few respondents but good 02:20: mix of responses here from 22% at 02:24: the beginning 46, intermediate, which is the majority and 02:29: 32% of us are Advanced. 02:31: So it's really great. Good mix of expertise here. 02:35: And also, we're, we're really looking forward to just 02:39: sharing some great context on how maybe you can move yourself up from maybe beginner 02:43: to a media or intermediate to Advanced after today. 02:47: Maybe shoot some experts out there. But essentially, we're going to talk all 02:51: about the great updates that have happened within our application for financial control. 02:54: And Reporting, before we do that, though, just a few housekeeping 02:59: items that were pulling up. As always, these are being recorded. 03:03: Um, that's so we can make sure we share it with you folks after today. 03:06: And anyone else who maybe wasn't able to attend, there is a Q&A 03:10: box at the bottom of your screen. We really encourage you using that Q&A 03:14: throughout today's webinar. As I mentioned, we have a couple great helpers 03:19: here to field your questions. They're considered experts and 03:23: are really eager to answer any questions that you may have. 03:25: So please fill that out for any questions you might have. 03:29: But if you just want to say a comment, I want to chat with us talk. 03:33: As we're talking use the chat feature to engage with us hosts as well and 03:37: we'll be happy to answer any questions that you might have. 03:41: But essentially today, we're going to go over a few key topics. 03:45: We're going to talk about some learning objectives that, we feel are really critical for this 03:49: webinar, making sure that everyone can walk away today, feeling ready 03:53: to use these features once they're available to you, we're going to review, what's 03:58: already been released. So this is been a long running project. 04:01: There's actually one more 04:03: Phase of this project coming up so it's always good to remind you about what's happened before 04:07: so we'll talk about that for just a little bit then we're going to talk about for 04:11: the majority of today. What's happening with this what we're lovingly calling phase 04:16: two. So the amazing Maggie is going to talk about all those 04:20: great details and then I'll go in and do a brief demo of what she discussed. 04:24: Well then briefly discuss what we're looking ahead to for the third phase and 04:28: we'll close it out with any questions that you may have. 04:31: Hopefully give some really insightful answers and we'll provide you any 04:35: resources that you may need after today, ultimately though, we're just really excited 04:39: to have you. Here, we recognize that, you know, with our registration clients, 04:44: the financial control and Reporting features that we offer are truly 04:48: essential. And so we feel strongly that a lot of the features that we're talking 04:52: about today and the items that we're looking forward to for the future are truly 04:56: critical for that being a possibility. 05:00: And so, let's just talk for a second about what our learning. 05:03: Effectives are by the end of this webinar. We really hope that you'll be able to walk 05:07: away. One thing. Wow, that was fun. That's a great team. 05:09: Really felt engage that that's not in the slides but we'll add that later. 05:13: That we also just hope that you walk away with clear understanding. 05:17: We've got the three phases of the project that I mentioned. 05:20: So we want you to understand what those benefits are when you leave today. 05:23: We also just wanted to determine how the financial control and Reporting enhancements. 05:28: That's a mouthful. My impact your organization's workflows. 05:32: We're going to talk about some of this being in a coming soon State. 05:35: That's because we really want to hear from you. So please use the Q&A. 05:38: You use your comments to tell us about how this might impact you as we go. 05:42: And we'll certainly have opportunities to discuss that throughout. 05:45: Lastly, we want to identify any best practices for managing 05:49: participant accounts and finances. 05:52: Because again, we trust that, while the kids are away from home, you 05:56: all are doing amazing job of keeping them safe. 05:58: This is just another layer of that to do and ensure that those 06:03: To practices are kept and manages managed for your participants. 06:07: So those are really the learning objectives today. 06:09: Now, I'm going to hand it over to, as I said, the Magnificent Maggie, and who's 06:13: going to talk about all of the details in the really in-depth resources 06:18: that you may need to walk away today to achieve these objectives. 06:22: Maggie. Thank you. 06:23: So much Michael for setting the stage. Yes. 06:26: So before we get into an overview of the three phases 06:30: of our financial control and Reporting project, we just want to 06:34: kind of make sure we're on the same page and do a basic very 06:38: basic glossary of terms. So for those of you who are in the more advanced side 06:43: of things, this might feel like a little bit of a refresher perhaps, but 06:47: just want to make sure we're all using the same terms that you all have a strong understanding 06:52: of what they, what they mean. 06:54: So, first thing is a line item. 06:56: So a line item is basically just that single entry in your financial 07:00: records. So if you have a item that you've purchased, if it's 07:04: a, you know, an actual program, an add-on all that sort of thing, those are line 07:09: items. What about credits and debits. 07:11: So a credit is any funds coming in. 07:15: So, that would be payments that you are. 07:17: Participants make that would be a credit. 07:22: Now, a debit is kind of 07:23: Verse of of that a debit would be money leaving. 07:26: So the most common would be in your payout. 07:29: So once you're participants, have paid in their 07:34: their credit. Then those are paid out to you via a payout. 07:36: So that would be considered a debit as well as some of those more one-off 07:42: cases, like refunds chargebacks and ACH returns. 07:47: The next term, we just touched on is a payout. 07:50: So for those of you that need a refresh run, this, that's just those funds that 07:54: are redistributed back to you to your organization after those 07:58: payments come in. All right, here is a one that's really going to be a 08:02: Hot. Hot Topic today is attributions. 08:05: So a natural Fusion is the ability to link 08:09: it cost or Revenue to a specific line item. 08:13: So this is a way to track where money is going. 08:17: You know, if you are, let's say offering a discount on 08:21: something, what is the discount? 08:23: Going towards or someone makes a payment? What is that payment going towards? So attributions 08:28: is really the focus of the phase. 08:30: Two portion of this project and we're going to be going into this concept 08:35: pretty in depth. And the last one that will also be touching on a 08:39: lot today is adjustment. So, an adjustment is when you need to make 08:43: a correction or update a financial record. 08:46: So let's say that you have, you know, a line item in a participants account 08:50: and you need to either reduce the balance or perhaps increase the balance 08:54: or maybe they've canceled those would all be considered an 08:59: adjustment. So those were just some key terms that you're going to hear today that we wanted 09:03: to go over the definitions before we continue. 09:09: All right. Next up. Let's talk about what 09:13: is this financial control and Reporting project that you all keep talking about. 09:17: So this project really is informed by feedback that we've 09:21: gotten from you. 09:23: So our clients who have been using our registration platform and 09:27: have become really Savvy with what their needs are for managing their 09:32: participants accounts, you've all given us some great ideas about ways 09:36: that we could make that process more efficient for you. 09:39: And so, the main goals of this project are really to deliver 09:43: on some of the feedback that you've given us and make your process easier. 09:47: The main for points of this project are to improve 09:51: your financial reports. So we do have robust reporting available 09:56: in our participant and organization Ledger today. 10:00: And we're making some adjustments to that to make those reports even more meaningful 10:04: and clear for you. We're also wanting to improve the reconciliation 10:09: process for you. We've heard from many organizations that there are some kind 10:13: of manipulations that have to happen. Once you've pulled those reports and 10:17: our goal by the end of phase three is to offer you a bit more clarity 10:21: to make that reconciliation. 10:23: Have more efficient. The next thing is to ensure 10:27: accuracy of your Revenue flow. So I know Michael having a fintech 10:31: background. Really likes this one, but we really want to make sure that, you know, all the money that's 10:35: coming in or going out its associated with something, right? So that's where those attributions 10:39: come into into Play. We want to make it easier for you all, 10:44: if you're running multiple programs, perhaps you have different bank 10:48: accounts or different, you know, Revenue goals for your different programs. 10:52: All of the attribution work that we're doing is in pursuit of 10:57: making it easier for you to manage that Revenue flow, if it's going to different 11:01: different places. And then the last one is to really just expand 11:05: the options that we provide so that you can make them work for what 11:09: your organization's needs are. So there may be some of you that 11:14: prefer to keep it kind of simple, maybe the first phase of the release 11:18: of us. Offering more custom General. 11:22: Electric codes isn't the best? 11:23: For you. That's okay. So if you'd like to keep it simple, there's still options for 11:27: that. And if you want to, you know, take it up and add more General, 11:33: General ledger codes or just kind of get more creative. 11:36: Maybe you have multiple revenue streams. 11:38: We're going to offer you options as well. 11:46: Okay, so let's just kind of look back to September 2024, 11:50: just six months prior is when we launched phase one 11:55: of this project so it should be still pretty fresh for you, but we're 11:59: going to go over what, what changed and kind of set the stage for what's 12:03: coming next. So, for phase one, the first thing that 12:07: we did was expand the options for general ledger 12:12: codes. So we have offered general ledger codes or GL codes for tuition 12:16: items, historically, and we expanded the ability to to 12:22: include general ledger codes for things like your add-ons and coupons. 12:25: So, there are both default add-ons 12:30: or default, GL codes, available, or you can also customize them if 12:34: you choose. So that was one enhancement that came with face one. 12:39: The second thing that we did was offer a bit more options when it comes 12:43: to your Finance settings. So there was a new tab that you might have noticed, 12:47: and under the finances section, where you can 12:51: manage a few different settings. So, the finances set up tab is where 12:55: you can both. Adjust those general ledger codes that we 12:59: just talked about, Time or you can also control 13:03: your payouts so we have some organizations that prefer to, you 13:07: know, temporarily pause any payouts. 13:10: So they can make sure all their attributions are in place and just 13:14: make sure any refunds or money. That needs to go back and forth is 13:18: all squared away before initiating those. 13:20: So now we have an option for you to have that control directly you 13:24: can toggle that and temporarily pause payouts. 13:29: And then the last piece of phase one was around the reporting 13:33: side of things. So we expanded the kind of going alongside 13:37: with that that first point all those additional General Electric codes that 13:42: that we now have in place are now going to appear in your participant 13:46: Ledger reports. All 13:51: right. 13:52: So here's the fun part. Now we get to talk about what comes next. 13:55: So in the next few weeks, we're anticipating the release of phase 14:00: two and Mike as Michael mentioned, we're really hoping to learn more 14:04: from you all, you know, hear your feedback, share this with you and we will 14:08: be sending you an official announcement once it's released 14:12: but we're anticipating this coming out in the next few weeks. 14:17: This release will involve some changes to how you 14:21: typically interacted with our financial tools and our 14:25: tools available in the participant account. 14:27: So, it was really important to us to provide some education 14:32: and a discussion around this prior, to the official 14:36: release. So that's what we're here doing today. 14:38: All right, now with that, let's get into it. 14:42: So the first main thing really, for phase two is 14:46: regarding attributions. 14:48: So for those of you who are, you know, maybe on the 14:52: More familiar side with how finances work today. 14:55: If a participant makes a payment at 15:00: this time, it's going to default to the most upcoming session. 15:04: So, whatever session is coming up first. That's where that payment is going to be attributed, 15:08: but there are other workflows where you might be adding payments or refunds 15:12: that, you know, don't include an easy way for you to 15:17: add that attribution. 15:20: You kind of have to go back and do it more more manually. 15:23: So what we're doing here with phase two is ensuring that everything is 15:27: attributed and adding on a prompt for you to 15:31: attribute those external payments and refunds. 15:34: So this is all in the pursuit of making it your records 15:38: more accurate and will really make it possible for us to accomplish 15:42: phase three. So these are kind of the foundational 15:47: change that we're putting into place to reach our ultimate goal. 15:52: That is a little bit about attributions. 15:54: Michael is going to be showing you a lot of what this looks like. 15:57: So as I'm talking just kind of, you know, store these words away in 16:01: the back of your head and then you'll get to see it in in the application 16:05: itself. All right, the next main shift is regarding 16:09: balance adjustments, so there are currently a few different ways that you can 16:14: adjust a balance for a participant. 16:17: So there are coupons, of course, if you were to Discount, there are 16:21: miscellaneous line items. 16:24: So those are options for adding or removing a particular 16:28: amount and then there are also custom adjustments. 16:31: So, with this shift, we are going to be moving 16:36: towards custom adjustments or coupons in 16:40: the case that you need to reduce a balance. 16:42: You might be wondering, why is that? So when you have a 16:46: miscellaneous line item, it really is floating around, 16:50: kind of in space, if you think 16:52: That way, they're not really Associated to anything. 16:55: It's not saying, well, where am I? Removing that money from where am I reducing 16:59: that balance? With the custom adjustment and Michael will show you this. 17:02: It's going to make sure that anything that you're reducing balance wise is 17:07: associated with something. So it's always attributed and you know where that discount 17:11: is actually being applied. With this shift, the 17:15: negative miscellaneous line items will no longer be available. 17:18: You can still add positive miscellaneous line items 17:22: but we really are moving towards. 17:24: The use of custom adjustments or coupons, which will will walk 17:29: through the custom adjustment. One additional note. 17:33: I just want to call out here. If you do have staff members who are 17:37: currently have the billing role or you 17:41: know our finance team and might have specific permissions to 17:45: manage participant accounts, you will want to ensure that they all so 17:49: have access to the 17:52: Rations table in your participants profiles. 17:54: So the reason is that custom adjustments are added in the registrations 17:59: table to ensure that they're tied to those registrations. 18:03: So if you, you know, as we get closer 18:07: to this release, one of the action items we have for you all is just to review 18:11: your permissions and make sure that everyone that needs to has edit 18:15: access to the registration table. And then the 18:20: last new new thing, really is a transfer line item. 18:23: So this is a new lot line item that we're adding in to our system. 18:27: And this is a way for you all to make it easier to 18:31: reattribute a locked payment towards another 18:36: unpaid registration. 18:38: So this kind of requires a scenario set up which Michael's going to show 18:42: you but I'll talk you through it now and then you can see it again unfold before 18:46: your eyes. So let's say that a participant register for a 18:50: session and 18:52: They make a payment and they've paid off that, that balance and a 18:56: payout occurs. And at that point that payment is locked. 19:00: So the attribution of that payment is, is now locked. 19:03: And that's in order to maintain the security and the accurate 19:08: records, kind of what we talked about in bullet point one. 19:12: So now this person decides, you know what, actually I'm going to cancel that session and 19:16: I'm going to be attending this different Pros session. 19:19: I had something come up and I need to change weeks so the 19:23: transfer line item is going to generate automatically to 19:27: reallocate that payment towards this new 19:32: registration. That's unpaid. So it's a way for us to manage 19:36: attributions without you having to go through the trouble of refunding, someone 19:40: and then having them make an additional transaction. 19:42: So, this is really in place to help make that process more streamlined, 19:47: and it will be generated automatically. 19:51: Now. 19:52: That said if somebody has canceled a registration 19:56: and made their payment but it hasn't locked out yet the transfer 20:00: line done is not going to appear it in that case, because there's no need to have a 20:04: separate line. Item to reattribute it, it can just happen automatically. 20:09: The last thing I want to mention about transfer line items is that these 20:13: are used to transfer attribution the payments within a 20:17: particular person's account. So they are not available 20:21: to transfer payment from one account to another. 20:25: So it's all within one particular, participants account. 20:30: All right. That is a quick overview of 20:34: phase two and now I'm sure you want to 20:36: Say can we see it? And the answer is yes. 20:39: So I'm going to pass it over to Michael and he is going to show you some 20:43: of these new features that we have available. 20:51: Great. Thank you so much Maggie. All right, so as 20:55: Maggie mentioned we've got a lot of great enhancements. 20:58: I said great three times, I'm aware of it but we 21:02: have some new features that we want to show you. That really relate to what we just talked about and we're going to start 21:06: with just that overview, as we mentioned of Priority, 21:10: One or phase one. And with that, we've added this new finances, 21:15: set up section. As you can see, I don't currently have a 21:19: bank account set up in my payout settings here. 21:22: But once I add a bank account or a payment method, my payout 21:26: control is now going to be toggleable practice that 21:30: word in the mirror this morning, nailed it. 21:32: Essentially what this means is by adding a bank account you could now 21:36: Control that your ability to pay out on that daily basis. 21:40: So, as Maggie mentioned, because really in this second phase, 21:45: those attributions lock in. 21:47: Once the payout occurs, if you're an organization who really wants to tidy 21:51: things up, make sure all of your ducks are in their proverbial row. 21:54: You can disable payouts to avoid any of that locking 21:59: from taking place. And so this will actually be a 22:03: section that's really relevant to not only the first phase of the project but 22:07: will also be relevant to the third phase of this project as well. 22:10: But really this Finance is set up. 22:13: Gives you this payout settings which also then gives you the ability 22:17: to adjust manage and control your glory 22:21: or general ledger codes. These are the default codes that are just automatically 22:26: going to be applied. If you remember the big emphasis with our 22:30: first priority or phase, here was to ensure that every single thing has 22:34: a General Electric Code. We 22:36: Recognize that it can be tedious and sometimes even cumbersome to have to add a general ledger 22:41: code to everything. So we've given you the ability to default when 22:45: you're creating new items in each of these spaces to just whatever the default 22:49: general ledger code, is these can be edited, notice. 22:53: I was very creative in my changing of the names. 22:56: I wasn't at all, I left them as they are. 22:58: There are going to be default and then the name of the section 23:02: as a standard but you can change these to whatever you want and 23:08: they would be your new default terms that you would use for your 23:13: setup. But essentially just wanted to show you that this is a space for 23:18: all of your priority. One needs that really gets you what you need to 23:23: set up or priority. 23:25: Too. I'm going to go back now into my account. 23:28: Mike B. Feel free to call me that if you'd like, I was 23:33: reserved for my friends, which all 50 three plus of you are so 23:36: Okay, but as Maggie mentioned, we've got a lot of new stuff that's happening inside 23:41: of this account tab. First thing I want to show you is our coupons. 23:44: I call them coupons, some of you call them coupons, they're 23:48: both the right answer, but essentially, before we moved into this priority 23:53: or phase, you couldn't attribute a coupon to anything. 23:56: Well, now, not only can you attribute coupons? But those coupons 24:00: are going to be automatically attributed, upon creation and application. 24:04: And so notice this line item is locked. 24:07: So reason being though, is it's going to tell you because coupons are 24:11: automatically attributed, I clicked on the coupon. 24:13: And so if you scroll down here, you'll see session four, 24:18: which is where this coupon was related to is now attributable or 24:22: attributed. Attributed, excuse me to the session. 24:26: And so there's my coupon, there's a total attribution and there's 24:30: the session details. This is going up here for any of those coupons. 24:35: Just to let you know that 24:36: They are locked because they're automatically attributed right on the onset. 24:40: But again, just a really great way to show when you click on your line 24:44: item. What it's related to and what you can do with 24:48: it. I'm curious and please throw it in the chat as I move on to the next session. 24:52: I've seen a lot of great coupon codes. 24:54: Know this is named early bird. 24:57: What's your most unique coupon code that you use for your participants? 25:01: I'd love to hear it while we talk about the next phase which is 25:05: the external payments that Maggie had talked about. 25:07: So for those of you may be, so, yeah, I was gonna say if 25:11: anybody wants to just make something up. If you want to get creative, doesn't have to be a real coupon code. 25:15: We want to hear it. So, we have that. 25:19: And so if you're seeing this movie for the first time or maybe you're 25:24: wanting a refresher, we mentioned before that, you can submit external payments 25:28: now through this attributable flow. 25:31: And so when you want to submit an external payment, notice my balance right 25:35: now is 25:36: 1370 dollars. I had one of Mikey 25:41: B came in his mom or dad and said, you know what, here's cash. 25:44: I'd like to pay for these right now in full and so typically we use 25:48: this external payment for that use case. 25:51: There is a slight change. No, not a major one, but because 25:56: we want you to attribute up front, we've changed 26:00: this user interface a little bit. Now, you have to click Start to 26:04: continue and by doing so you're taking to what should look 26:08: familiar, which is your your process external payment section what's 26:12: changed. However, is the attribution candidates. 26:15: And so in this situation, Mike D's dad is coming 26:19: in to make a payment and sometimes maybe he's 26:23: just gonna pay for the week. 26:25: One of registration. You could attribute that here and save it and 26:30: submit it. And then it's going to reduce that for you and attribute that external 26:34: payment to this specific line item. 26:37: Same is true for each of these individual line items or in this situation, I'm 26:41: going to show you today because I'd like to reduce this balance to zero is 26:45: Mikey B's. Dad has come in and said, you know what? Here's 1,370 26:50: dollars in cash. I don't even know if banks let you do that anymore, but he was 26:54: saving for a couple days and he's now ready to pay upon 26:58: the submission. It's going to give you the same confirmation that it should. 27:01: It's going to verify that the balance is now zero note that all of my 27:05: attribution candidates have been successfully filled out. 27:08: One thing is important to know, so if I want to say, 27:12: put in 360 hours because I just didn't see the amount, 27:16: it's not going to let you. It's only gonna let you add up to the 27:21: amount remaining. So you can always go under but you can't go 27:25: over any of these attributable mounts, just like you can't exceed the 27:29: balance of 1000 and 70 dollars. 27:33: But once you hit submit, It should update his balance. 27:37: 2-0. And it does. I want to just pause for just a 27:41: quick second. I recognize I happen to be a fast talker. 27:45: Any thoughts? Comments or questions that I should address from the group? 27:51: All right, I'm going to keep going. And again, please just stop me. 27:55: My fellow hosts and panelists if we need to. 27:57: But now I want to talk a little bit about custom 28:02: adjustments. And so similarly, if you would like to go ahead 28:06: and make a custom adjustment within your account inside 28:11: of the session, so we've been messing with session one. 28:14: Here I am going to edit my registration. 28:17: I did that really fast. I recognized. 28:19: That I apologize. So I went to the registration table. 28:23: I looked for the specific session that I want to make an adjustment for. 28:26: In this case, there's a scholarship option available for a 28:30: week, one. I know this. And so, I've gone into my registration area. 28:35: Clicked edit registe. 28:36: And have now been given this new interface. 28:39: Well, it's the same. I lied. 28:41: Nothing's really changed here. This should look exactly how it did before, 28:45: but I'm going to go into my custom tab because now 28:49: I would like to show you something new. Which is this option to attribute 28:53: your custom adjustment, to the specific line item. 28:57: And so as we see here, we've got the description box you 29:01: can freeform. But no we have options available based 29:06: on eligible line items. We saw it in the chat before. 29:09: How do I use this scholarship custom adjust here? I'm going 29:13: to select scholarship. I am going to adjust for full day 29:17: week one because that's what the scholarship was for. 29:20: And let's just say because I don't work with scholarships 29:24: every day and that might be clear, it was a dollar scholarship because that's a thing. 29:28: I'm going to reduce this now, down by 100.00 29:32: by creating that custom adjustment, I almost 29:36: Oopsie and added 100 dollars, need to put the negative in there, but 29:41: once you do, it's going to say, here's my description. 29:44: This is what I'm adding the adjustment for, and this is the amount. 29:48: I am adjusting by creating this adjustment and 29:52: clicking submit. Its going to ask me to review my changes. 29:58: And should be. 30:04: And so now I have adjusted for 100 dollars on 30:09: week one. I just wanted 30:13: to add one piece of information that might be helpful 30:17: here, too. You all have if you have the provider 30:21: permissions available, the ability to add line item names. 30:25: So if there are common adjustments that you're looking to make, and 30:29: you want to make sure that those are coded in a consistent manner, 30:33: you can add new line, items, like scholar. 30:37: Or you know and any particular thing that's going to come up for you more 30:42: than once during a season. So if you do have questions around, 30:46: how to manage your line items, let your clients discuss the team know and we can 30:50: definitely get you information about where you can do that. 30:55: That's great. Thank you Maggie. All right, so 30:59: now know we would from a zero dollar balance to having a 100 31:03: dollar balance. So what we're now eligible to do is the last thing I'd 31:07: like to show you at least in this section, which is an external refund. 31:11: And so I'm going to go back into my account Tab and 31:15: by clicking add line item know my external payment button, has 31:19: now changed to say external refund, this happens when you're balanced 31:24: goes to a negative. So meaning you have an eligible, 31:28: refund candidate and by clicking the external refund, you're going to see the 31:32: same type of logic because just like with external payments. 31:36: Needs to be attributed. So by clicking start, I'm now going to be put 31:40: into the same interface where I'm going to be asked to put in my name and the method. 31:45: And then I'm going to say, what my refund is. 31:49: Same rules apply though, so because my amount remaining is 100 31:53: dollars, I can't refund 110 dollars. 31:56: I can, however, refund Is 32:01: this allowed? There we go. I can't refund less if 32:05: I need to, but essentially, your refund external, refund flow, change 32:10: that, we want to highlight here is that you are now. 32:13: I don't like to use the word Force because it seems negative and this is all 32:17: really great because knowing where things should be applied to and what they should be assigned 32:21: with are really important but we ask that you do that right? When you receive 32:25: and or initiate these payments and refunds And 32:30: so I'm going to just click submit show that the balance is now zero. 32:35: And the last thing I, 32:36: To show you is something that actually deals and requires real transactions. 32:41: So I'm going to switch tabs because right now I'm in an environment that 32:45: is okay to do all of the tests that we talked about but because the 32:49: next two things require actual money. 32:51: I just want to show you in a little safer environment. 32:54: So I don't accidentally hit our CEOs bank account. 32:56: But essentially we've made two big changes that 33:01: are going to show you last, which is Maggie talked about in the beginning that 33:05: once the payout occurs your line items are locked. 33:08: And so with that we just want to show you that 33:12: how this looks in the app for your payments. 33:17: So on this date, if you click into the line item 33:21: that is because the payout occurred 33:25: which is on the 4th or the 5th rather know, it's the fourth I'm 33:29: doing really good at reading today, the line item is now locked, which 33:33: means you still be able to interact with it via 33:36: Standing, what took place, and what attributions look like, but 33:40: you can now no longer edit any of these attributions 33:45: reason. Being is now it's officially gone, 33:49: the money's out and everything has been attributed successfully. 33:52: Therefore, we can't change the attribution logic that was applied 33:56: here, which means, we'll just automatically lock that for 34:00: you once the payout occurs, as I mentioned a little bit before though, if 34:05: you want to make sure you do any necessary, bookkeeping or housekeeping adjustments, 34:09: do disable the pay out and then you don't 34:13: have to run into any payout locking for a specific line items, everything looks 34:17: good. You don't need to make any edits or changes though. 34:20: Once the payout occurs, this is when you're locked out from 34:24: making any adjustments here. But just wanted to 34:28: show this because it is an A change that is fundamentally different from the way 34:32: it was before. But if you have any questions, please use. 34:36: Chat. Or we're happy to hear your feedback after. 34:40: Last thing, I promise, I want to show you, I just did the wrong 34:44: thing. I clicked the wrong button, but I want to show you the last scenario, 34:49: which is, I think pretty common in this scenario, on the fourth, our 34:54: participant good old Mikey B registered for oops, registered 34:59: for this session, the Explorer session. 35:01: Now, on that same day, they decided, I don't want to 35:05: be an Explorer and wanted to cancel that registration, but because the payment 35:09: was made and it's now locked. 35:12: We want to be able to take that money and still 35:16: apply it to this new session. 35:18: That might be is registered for because they decided their Mariner and said, 35:23: and so we have logic baked in that any time that this 35:27: is gonna happen for you. And this is going to happen automatically. 35:29: So, again, you don't have to put a lot of thought into it anytime that there's an 35:33: available session for those funds to be. 35:36: Located to or reallocated to, you're going to see these new line items 35:40: expressing, where the reallocation was, and what 35:45: it was for. Which is pretty neat now and I know 35:49: that you can't transfer between individual profiles from 35:54: one profile to another but you can transfer from the same profile from one 35:58: session to the other. So we wanted to just show you that transfer as 36:03: we understand that it is pretty common, use case for you. 36:06: But that is what we want to show you inside of the application, 36:10: which I know can. Sometimes feel like taking information from a fire hose, but 36:15: we really feel like this phase phase. 36:18: Two is a critical step into, not only showing 36:22: up the ability to have clear Financial control and reporting for 36:27: your participants information. But will really set us up for face three, 36:31: which will get us there even further. And so, I 36:35: want to hand it back to Meiji. 36:36: So she can talk a little bit about phase three and she and I will do that a little bit together if 36:42: we want to pull back up the slides and we could talk about phase three a little bit. 36:47: Thank you Michael. Yeah just while we're getting those those slides up, just 36:51: wanted to mention that a lot of the adjustments to workflows 36:55: that you just saw. From phase two are all in pursuit of achieving 37:00: phase three and 37:02: So those prompts and those adjustments that will kind of get you to 37:06: ensure everything is attributed properly and that everything's flowing are 37:10: all because phase 3 has some pretty exciting and amazing 37:14: things included. So we're going to go through what those those are and I 37:18: think it'll all make sense as to some of these incremental changes that we've made in 37:23: Phase One and soon enough and phase two So for phase 37:27: three, our goals here are to, as I mentioned, 37:31: I think, when we started one of the main pain points that we hear from our clients 37:35: is, I need an easier way to reconcile my, my payouts 37:40: and so phase three is going to make that much 37:44: easier because processing fees and convenience fees 37:48: will be separated by general ledger code. 37:51: So kind of think of it as those fees will. 37:53: Now be split across line items, currently processing, 37:57: fees and convenience fees are applied to any transaction. 38:00: So, in the case that 38:02: A participant. Pays for multiple items in one 38:06: transaction. It's hard to know. Well, how do I split up this? This 38:10: processing fee. So this system is going to do that for you 38:14: and that will be all included in your Ledger 38:18: reports. The other thing is that the payout report is going 38:22: to show you the line items and the general ledger codes that are associated 38:27: with that payout. So you won't have to kind of go through pull multiple reports. 38:31: Try to compare them and start to split split pennies and get all confused. 38:35: The systems going to really make that a much more streamlined process for you 38:39: for through these enhancements of our reports and the ability to 38:44: separate out processing fees in general or convenience 38:48: fees, and processing fees by general ledger code quick aside, 38:52: convenience fees is a newer feature that we have released, and 38:56: if you're interested in learning more, I know many of our clients have 39:00: already added this. 39:02: Into their account. But if you are interested in learning more perhaps for 39:06: next season, please don't hesitate to reach out to your clients, success team, we'd be happy to walk. 39:10: You through the options there of which there are several All 39:15: right. Moving on to the next bullet point we're also going to add more 39:19: filter options to The Ledger. 39:22: So at this point, there is not a option to filter by general 39:26: ledger code that will be included in phase three. 39:28: So you can say, Okay, I want to know, you know, all the payments made 39:32: towards general ledger code 123 and you could filter 39:36: that straight from your Ledger and then export those into 39:40: a CSV. And the third one, this is a really big deal. 39:44: I'm pretty excited about this one. Michael you. I'm not. 39:49: Yes. Okay, pretty excited about this one. 39:51: Yeah, yeah. So all of this work of attributions 39:56: and General Electric codes, all of that is to make it possible for if 40:00: you're interested. 40:02: Have payouts go to more than one bank account. 40:04: So, at this point you if you're familiar, you can 40:08: associate One bank account for your, your payouts. 40:12: But by assigning general ledger codes 40:16: and ensuring that everything is attributed, we can actually split those payouts 40:21: out. So if you desire to, you can associate a 40:25: general ledger code with different bank accounts and have different payouts going 40:29: to different places, which I know for some of our larger organizations or organizations that 40:33: might run Multiple different programs or have different teams, 40:38: different revenue streams. And this might be a really great way, then you don't have to do that on 40:42: your end. If the system can do that for you, and the last one is 40:46: that we want to make custom gel coats easier. 40:49: So, as we talked about in phase one, we did expand the ability 40:53: to set up custom general ledger codes for add-ons and 40:57: coupons. And as part of phase three, we're going to make it easier for you to get. 41:02: Goes into the system in bulk. So we will be working towards, 41:06: you know, at this point you can enter them one by one, but we want to make that a little bit more 41:10: efficient if you're looking to add many of them so that is another aspect 41:14: of phase 3 that we're really excited about. So you know, I guess in 41:18: terms of What happens? Next we are going to do a QA and 41:22: answer questions and then we can wrap up and kind of send you off with, okay. 41:27: When is this one? Is this coming what? You know. 41:29: So let's let's answer any additional questions that haven't been taken 41:33: care of by our amazing team behind the scenes and 41:37: then we can, you know, send you on your your way. 41:41: Yeah. And Maggie just real quick to 41:45: one and just talk about the face three. 41:48: We talked 41:49: About, you know, in the finance setup and those multiple bank accounts. 41:52: That's why I'm so excited because that's going to see some updates. 41:55: But one big difference with phase three from phase 41:59: one and two is that? Well phase one and two took a lot more up 42:04: front building and preparation phase three. 42:07: You're going to see releases come out more individually almost by 42:12: the individual bullet points that we see here, which leads 42:16: me to the question that we see in the chat Maggie. 42:18: I'm gonna try and facilitate with you the best as possible and we'll answer these 42:22: together. But the first question that I'm seeing is coming from Jordan, which is 42:26: will the ability to pull revenue reports on a per program basis. 42:29: Be discussed or any other phase and curious edits will improve the ability 42:33: to pull revenue reports. 42:35: That last word reports is why I thought this might be a good time. 42:39: You want to talk a little bit about that Maggie for face. 42:42: Three and Beyond and how we might help address Jordan's question. 42:46: Yeah, so I think having the filter 42:49: Um, as part of phase three, where you can filter by general ledger code will be a 42:53: great tool for this and then you will be able to also 42:57: by exporting your payout and seeing how everything 43:01: is split. Jordan. You, you know, we've sat together and I've seen the 43:05: amazing work that Jordan has done to do her reconciliations 43:10: and so this will, you know, all of that manual work that you were doing 43:14: to kind of figure out. Okay. Well, but where do the processing these come into place that will all be split 43:18: out. So you will be able to more easily identify Revenue 43:22: per program. You will want to have your general ledger codes there 43:26: to to help you will also still have all of the other, you 43:30: know, line item descriptions that you have now. 43:33: So you'll have your registration title, your ad on title, all of that. 43:38: But I think general ledger codes can help make that even more efficient. 43:46: Thank you Maggie, and then we've got a question. 43:49: Trina, which is what do we do if we need to make an adjustment? Once it's locked. 43:53: I know this is something you and I talked about a lot Maggie and, you know, I 43:57: know the answer but since this is your team, you want to talk a little bit about what 44:01: your team's plan is. If and when this happens and how me 44:05: and the dev team can support those requests as they come in. 44:08: Yeah, so at this stage of the game, if there is a positive 44:12: miscellaneous line item that you have added into an account, and you need to remove 44:16: it, our team can help you with that. 44:19: So you just want to reach out to the client success team and we can support you. 44:22: There are many prompts and kind of disclaimers 44:27: that pop up as your, as you might be, adding those that will hopefully help mitigate 44:31: any any issues when it comes to a custom adjustment. 44:35: You, because you're able to do both positive and negative custom adjustments. 44:39: You'll be able to kind of adjust where you, where you 44:43: need to. But if you do, run it into something and you're not sure how to 44:47: get your 44:49: Depends account balance the way that you want it to our support 44:53: team also is, is here to help you. 44:55: So I know many of you have interacted with with 44:59: Christine. She's kind of our resident a 45:04: helper when it comes to any complex Financial questions. 45:08: She's Been instrumental as we've been making plans on this this 45:12: project and so she'd be happy to answer questions for you. 45:15: So yeah, reach out to your clients assess team reach out to your support 45:19: team as well if there's something that you're not sure how to adjust. 45:24: Yeah. Really great and I'm seeing in the chat and 45:28: the Q&A and in the chat questions and some eagerness about face 45:32: three. And when that's going to be initiated, I'd love to give a firm 45:36: date. I know we talk about phase. Two is in the next few weeks face. 45:40: Three is actually starting up all so in these next few weeks 45:44: actually kind of now into these next few weeks and so 45:49: While I can't give you a firm date. As I previously mentioned, we're going to focus on releasing 45:53: these in more Iterative, or 45:57: just smaller pieces. And so what Maggie and I will do is 46:01: ensure that we work with the training team to communicate these changes as 46:06: they're coming out. Give any necessary, content, or training, that might be required. 46:10: But we I we don't expect to spend a 46:14: lot of time on phase three though. 46:16: I wouldn't want to give you a date but we're working on it right now. 46:19: So it's very soon. And we will 46:23: be keeping you all updated along the way. 46:26: So we'll be sharing out the recording of This webinar 46:30: as we get closer to the official release of phase two will be providing 46:35: education materials for you. 46:37: Our amazing training team is already working on both 46:42: videos and written step by step information. 46:45: And we will do the same with phase three. 46:49: With those incremental, releases will be providing resources for 46:53: you along the way. 46:57: Absolutely. It looks like 47:01: the last question is being answered in the chat right now, but 47:05: is there. I'll just kind of read it off as our facilitated 47:10: or answering it. But when administering GL codes in bulk, what's the time limit zoos 47:15: and museums give out membership. Coupons, that could be managed. 47:18: And so is there a database of possible GL codes 47:22: matching each possible number? So it's a really great question Maggie, you want to speak 47:26: to that a little bit. I know we kind of touched on with the face three work. 47:30: But yeah, John we we might want to collaborate 47:34: with your clients access team to think about any Creative Solutions. 47:37: But the general ledger codes are really tied to line items, not to individual 47:41: participants. So there wouldn't be a way for the system to 47:45: kind of say, okay, is this membership number match 47:49: This person's name but we can we do work with other organizations 47:53: that that do want to collect membership numbers. 47:56: And so we can talk about maybe some other options for achieving what 48:00: you're looking for. Yeah, 48:05: really great. One just came in Maggie. 48:08: Will I be able to refund back to a participants credit card? Or can I apply the 48:12: funds from one session to another So you 48:16: can kind of do either. 48:18: So if the participant has a saved payment available 48:22: and you are going through the process of canceling, 48:26: a registration that they've paid for. You can issue a refund. 48:30: If they have a outstanding balance within 48:34: their account at that time and that transfer line item will 48:38: generate and reissue that that payment, but you 48:42: can still do a refund, you can also still manage any 48:46: cancellation fees as you as you can. 48:49: To today. Oh 48:57: my goal, you're you did. That's all right. I get a redo. 49:00: That's all the questions for now but that doesn't necessarily mean 49:04: they have to stop. In fact we we don't want them to. 49:06: So if you have other questions after today you can contact us 49:10: through the methods that are on the slide. 49:13: You can visit the application through the support site. 49:16: You can share feedback directly through this great QR code But 49:20: ultimately I know I speak for Maggie and myself when we just say thank you so much for 49:25: joining know it's a time commitment out of your day and 49:29: we really appreciate you joining us to talk all about financial control 49:33: and Reporting. It's I know it's not always the most exciting topic but it's so essential 49:37: to what we do every single day. And so we appreciate you hanging out with us. 49:40: So Great. 49:43: Thank you all so much we know. There's a lot of unique ways that you and 49:47: your organization use our 49:49: Financial tool. So, just to reiterate that we're here for you, we're here 49:53: to support you reach out to your client success, team to our support team. 49:56: If you have, if you have questions and we'll be sharing more resources with you as we move 50:01: towards phase three. Woo.
Watch our informational webinar where we introduced the next phase of the Financial Control and Reporting Project. This release included key updates that lay the groundwork for the final phase, enhancing financial tracking and reconciliation.
In Phase Two, we introduced attributions (linking every credit to a debit), custom balance adjustments for greater accuracy, and the ability to transfer locked payments between registrations.