Using the Financial Reporting Feature

Nate Smith• Joined Administrate January

2016• Also not an accountant

Introductions

Adam Medley• Joined Administrate June

2011• Not an accountant

We do know Administrate!

What We’ll Cover…

1. Where We’ve Been / How We Got Here• Terminology• Functionality

2. Financial Workflows and Best Practices• Invoice Finalisation

3. Financial Reporting

Accounts Receivable• Draft Invoices• Finalised Invoices• Payments

• Credit Notes

Accounts Payable• Forecasted Costs• Invoiced Costs (Purchases)• Payments

• Purchase Credit Notes

Preamble: Terminology

Which Finance Functions are Supported?

• Creating Invoices for Events and Items• Workflow based

• Web Orders - WebLink and WordPress

• Opportunities• Registrations• REST API

• Directly, by hand• Editing “Draft” Invoices• Finalising Invoices

Which Finance Functions are Supported?

• Creating and Editing Credit Notes• Creating and Editing Payments• Creation and Selling of Items• Controlling Stock of Items• Forecasting Costs / Creating

and Editing Purchase Orders• Event Profitability Reporting

Workflows: What are “Finalised” Invoices?

• A state that can be applied to lock an invoice to prevent any further changes to that invoice.• Required by Generally Accepted Accounting Principles

(GAAP) to prevent fluctuations in reported financials.• Opens the door to integrations with other financial

packages.

Draft Invoice

Make Necessary

Edits

Finalise Invoice

Invoice Immutable

Safe for Export & Reporting

WebLink / Wordpress

Opportunities Rest API

Registrations & Accounts

Demo: Financial Workflows and Best Practices

Let’s see the full lifecycle for an event booking:

1. Create, Send, and Finalise an invoice2. Receive a payment3. Cancel a student and optionally issue a credit note4. Transfer a student and optionally issue a credit note and re-invoice for

the new event5. Restore a students booking to an event (undo a cancellation)6. Refund a student7. Forecast and record costs as purchase orders

Financial Reporting

Some examples:

• Exportable Invoices for Xero (or other system)

• Using the Reports Engine to Manage Debtors

• Using the Event List to view profitability

• Viewing Cost Breakdowns per event

Xero Invoice Import Template

*ContactName*InvoiceNumber*InvoiceDate*DueDate*Description*Quantity*UnitAmount*AccountCode*TaxType

Required Fields

Financial Reporting

Some examples:

• Exportable Invoices for Xero (or other system)

• Using the Reports Engine to Manage Debtors

• Using the Event List to view profitability

• Viewing Cost Breakdowns per event

Resources

• For further training or queries on the Financial functionality we’ll have a 30 minute Q&A in The Snug.• 15 minute support sessions are available.• Additionally, you can email:

support@getadministrate.com