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Using the Financial
Reporting Feature
Nate Smith
• Joined Administrate January
2016
• Also not an accountant
Introductions
Adam Medley
• Joined Administrate Jun...
What We’ll Cover…
1. Where We’ve Been / How We Got Here
• Terminology
• Functionality
2. Financial Workflows and Best Prac...
Accounts Receivable
• Draft Invoices
• Finalised Invoices
• Payments
• Credit Notes
Accounts Payable
• Forecasted Costs
• ...
Which Finance Functions are Supported?
• Creating Invoices for Events and Items
• Workflow based
• Web Orders - WebLink an...
Which Finance Functions are Supported?
• Creating and Editing Credit Notes
• Creating and Editing Payments
• Creation and ...
Workflows: What are “Finalised” Invoices?
• A state that can be applied to lock an invoice to prevent any further
changes ...
Demo: Financial Workflows and Best Practices
Let’s see the full lifecycle for an event booking:
1. Create, Send, and Final...
Financial Reporting
Some examples:
• Exportable Invoices for Xero (or other system)
• Using the Reports Engine to Manage D...
Xero Invoice Import Template
*ContactName
*InvoiceNumber
*InvoiceDate
*DueDate
*Description
*Quantity
*UnitAmount
*Account...
Financial Reporting
Some examples:
• Exportable Invoices for Xero (or other system)
• Using the Reports Engine to Manage D...
Resources
• For further training or queries on the
Financial functionality we’ll have a 30
minute Q&A in The Snug.
• 15 mi...
LITE 2016 – Using the Financial Reporting Feature [Nate Smith & Adam Medley]
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LITE 2016 – Using the Financial Reporting Feature [Nate Smith & Adam Medley]

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LITE 2016 – Using the Financial Reporting Feature [Nate Smith & Adam Medley]

  1. 1. Using the Financial Reporting Feature
  2. 2. Nate Smith • Joined Administrate January 2016 • Also not an accountant Introductions Adam Medley • Joined Administrate June 2011 • Not an accountant We do know Administrate!
  3. 3. 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
  4. 4. Accounts Receivable • Draft Invoices • Finalised Invoices • Payments • Credit Notes Accounts Payable • Forecasted Costs • Invoiced Costs (Purchases) • Payments • Purchase Credit Notes Preamble: Terminology
  5. 5. 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
  6. 6. 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
  7. 7. 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
  8. 8. Demo: Financial Workflows and Best Practices Let’s see the full lifecycle for an event booking: 1. Create, Send, and Finalise an invoice 2. Receive a payment 3. Cancel a student and optionally issue a credit note 4. Transfer a student and optionally issue a credit note and re-invoice for the new event 5. Restore a students booking to an event (undo a cancellation) 6. Refund a student 7. Forecast and record costs as purchase orders
  9. 9. 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
  10. 10. Xero Invoice Import Template *ContactName *InvoiceNumber *InvoiceDate *DueDate *Description *Quantity *UnitAmount *AccountCode *TaxType Required Fields
  11. 11. 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
  12. 12. 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

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