End of Year Reports
December 31, 2014
It's that time of year again!
If your business, like so many others, wraps up the financial year right along with the calendar- you might be finding yourself feeling a bit overwhelmed with questions. Not only is this the time of year that businesses start to worry about tax questions, but it’s also the time of year that business owners become focused on overall performance. This article will cover how to get the answers to some of those basic finance and performance questions.
How much money did we collect this year (revenue)?
This question can be answered by running a Program Deposit Split (FIN-4) report for the dates of the year including all payment types and programs. At the bottom of the report you will find a Grand Total line. In the rows of the report, there will be breakdowns of each program (numbered and bold) and all the charge categories used under that program over the date range. The numbers in this report include are full payment amounts collected within each program/charge category (price and tax not separated).
How much of our total revenue was taxes?
To answer this question, you will run a Consolidated Tax Report (FIN-11) for the date range of the year. This will give you two totals. On the left, there is the total amount of taxes billed out by your business over the date range. On the right is the total amount of taxes paid (from revenue) by customers over the date range.
How much money did we bill out this year (accounts receivable)?
The Category List (FIN-6) report will be the best report to get this information. It details the charges created in your iClassPro account by family, program, date, charge category, and title. It also includes columns for the amount billed, the taxes charged on that amount, a total of those two amounts, an amount paid and an amount still outstanding. At the bottom of the report is a Totals row for each of these financial columns.
NOTE: Depending on the amount of data in your system- larger businesses may want to run this report over smaller increments such as by month or session to make it easier to search for any needed information. In this case, the totals at the bottom of each of the reports can be added to come up with an aggregate total for the year. We also recommend the CSV mode to make the report easier to read in a spreadsheet-type format.
How do I find who owes our business money?
The Aged Accounts report (FIN-1) Is a great way to find out who owes your business money, how long the bills have been outstanding (broken down into current charges and past due 1-30 days, 31-60 days, etc.), and when the family last made a payment.
How many students fall within each insurable age group?
Many insurance carriers require an occasional report of the total number of students your business serves within specified age groups. For this purpose, we have a report specifically to calculate a total of these students using an active date for reference and their recorded birth dates within the system. This is called the Student Insurable Age Groups (STU-5) report. Simply enter a start age and a cap age and click Add for each age group at the top of the report filters. Then select an active date before running the report.
How many students were enrolled by Program?
Tracking the number of students or enrollments by program can help your business see a larger, unbiased picture of enrollment trends.
Examples: Are students trending more towards dance classes or gymnastics this year? Has my recreational gymnastics program seen growth? Are students taking more cross-program classes than in previous years? Has the number of students taking classes and camps grown? Or are the students enrolled taking more or fewer classes each?
These questions can be answered by running a Program Summary Report (CLA-3) for all programs over a date range. The report will include a total number of active camps/classes per program, the number of unique students by program (counts each student only once per program), a number of enrollments within each program (including all enrollments for students in multiple classes within the program), and a % filled calculation to determine the average enrollment in the program versus the capacity or maximum number of enrollments possible.
For example- you may run a report over fall of 2013 and then an identical report over fall of 2014 to compare the numbers for growth patterns or shifts in program success. This information could help you to determine which areas of your business are in higher demand and other enrollment patterns.
How do I provide a full list of charges and payments for customers?
The Family Full Ledger Report (FIN-5) is perfect for this! It can be generated from the families ledger screen by clicking the “Generate Full Ledger Report” button. You can run the report just for a specific date range (Jan. 1, 2014 - Dec. 31, 2014) as a PDF, printed and handed to the family. Or you can save the document and email it as an attachment through an external email client.
How do I get a list of Family contact information for new families?
You can get a list of contact information for new families who have signed up over the last year using the Family Phonebook report (FAM-2) with a “Families Created From/Until” date range! This report will include the primary and secondary guardian names, phone numbers, primary email and physical mailing address.
How do I get a list of Family contact information for families with students registered in a specific program or class?
There are three ways to get this information. You can use the Family Phonebook report (FAM-2), the Student Phonebook report (STU-2), or the Student List report (STU-1). The Family Phonebook report will include family contact information but not detail any information about the student. The Student Phonebook report will give you the student’s name in addition to the family and contact information. Finally, the Student List report includes the student and family information as well as optional items like the student’s class enrollments, anniversary date, roll sheet comments, family balance due, family’s last payment date etc.