Finances - dashboard and actions

In the article basic financial indicators are explained, including where to check additional information and breakdowns for the indicators´ values.

#1---Not-collected-entry-fees

#2---Collected-entry-fees

#3---Not-paid-out-refunds-for-entry-fees-and-products

#4---Paid-out-refunds-for-entry-fees-and-products

#5---Internally-used-funds-for-entry-fees-and-products

#6---Funds-not-paid-out-to-authority

#7---Funds-paid-out-to-authority

#8---Not-paid-in-funds-from-authority-top-up-needed

#9---Paid-in-funs-from-authority-done-top-up

Overview of dashboard

Please note: the dashboard applies only for online payments, when entry fee or product fee is marked as paid externally (offline), the payables are removed from the event accounts and are not accounted in the Finances, but can be found from the special report for externally paid entry fees and products.

1 - Not collected entry fees (same definition applies for product fees)

  • Entry fees or product fees that have been ordered, but not paid yet. They are in the payers´ shopping baskets and intended to be paid online.
  • More information can be found from:
    • Finances -> Cashier -> Payment status -> "Has not paid entries" or "Has not paid products"

    • Finances -> Balances -> Revenues / Expenses report -> balance account name "Uncollected revenue from entry fees" or "Uncollected revenue from product fees"

    • Same information can be found: Backoffice -> Reports -> Finances -> Event finances: overview of not closed events and situation with payments

      (the report includes section on Debtors, not collected entry fees and product fees after results are published and the balances are considered as final)


2 - Collected entry fees (same definition applies for product fees)

  • Entry fees or product fees that have been paid online.
  • More information can be found from:
    • Finances -> Cashier -> search by payer or athlete name or by horse to check what exactly is paid
    • Finances -> Balances -> Revenues / Expenses report -> balance account name "Collected revenue from entry fees" or "Collected revenue from product fees"
    • Finances -> Payments -> List of all payments

    • Same information can be found and extracted to excel or csv. file: Backoffice -> Reports -> Finances -> Event finances: overview of not closed events and situation with payments

      (the report includes section on PAYMENTS with 3 detailed reports on all payments (money flow) and payables included into payments with payer and associated athletes, entries and products)


3 - Not paid out refunds for entry fees and products

  • Calculated refunds (based on status of entry or product) that have not been returned yet to payer.
  • More information can be found from:
    • Finances -> Cashier -> Refunds -> select in filter "Has refunds available":

      • Check the details of balances to see, what is the current status of the entry and what is scheduled to be returned
    • Finances -> Balances -> Revenues / Expenses report -> balance account name "Funds to be returned to payers"

    • Same information can be found and extracted to excel or csv. file: Backoffice -> Reports -> Finances -> Event finances: overview of not closed events and situation with payments

      (the report includes section on RETURNS with 2 detailed reports on all returns that haven´t been paid out

  • NB! After the results are published, the button "PAY" will appear for not paid out returns. To avoid mistakes, the button "PAY" will not appear before all results are confirmed, meaning that all recalculations are done and settlements finished. When clicked on "PAY" button, all returns will be paid out to the payment method from where the fee has been paid with the following exception:
    • If payer has some obligations to pay, for example, payer has 10 EUR on return´s balance and 15 EUR in shopping basket as not paid fees, 10 EUR will not be returned and stay on the payer´s balance until the 5 EUR will be paid in to cover all costs.

4 - Paid out refunds for entry fees and products

  • Refunds that have been returned to payers.
  • More information can be found from:
    • Finances -> Payouts-> Reason-> select in filter "Returns":

    • Same information can be found and extracted to excel or csv. file: Backoffice -> Reports -> Finances -> Event finances: overview of not closed events and situation with payments

      (the report includes section on PAYMENTS with 3 detailed reports on all payments and returns that have been paid out, check the report called "List of payments with paid out refunds")

    • All paid out refunds are also recorded in Stripe, as refund is directly linked to the initial payment and can be traced also in Stripe reporting.

5 - Internally used funds for entry fees and products

  • Funds that have been paid out to event, but due to changes of classes or products, used internally to cover the full or partial costs of different entries or products comparing to initial payment. For example, athlete paid for classes 1,3,5 and then changed the classes to 2,4,6. The initial amount paid for 1,3,5 classes will be used to pay for classes 2,4 and 6. If classes 2,4 and 6 are more expensive, the athlete would need to pay the difference. If the classes are less expensive the difference will be returned.
  • More information can be found from:
    • Finances -> Cashier -> Refunds -> select in filter "Has used or paid out refunds"
      • Please note, that when entry´s status is changed, it automatically triggers an internal transaction, that means that there may be several transactions in the balance sheet associated with one entry. For example, when admin put entry from participated to changed, then to no show, then to withdrawal, then back to participated, the price of entry will change based on the regulations (for example, if there is a starting and registration fee defined separately or not, if changed entries´ fee should be returned or not etc). After these changes there may be several transactions and receipts issued as the balances from the athletes´ perspective will also change. Another example is switching on and off the late / offline entry flag. This manipulation automatically adds or removes the late entry fee addition to the entry fee amount. If this is done 3 times, there will be internal transactions associated with this manipulation.
    • To get an exact list of all used refunds:
      • Navigate to Backoffice -> Reports -> Finances -> Event finances: overview of not closed events and situation with payments -> PAYMENTS section;
      • Extract "List of payments and amount of payables for payment" (in excel)
      • Do the following action in Excel: 1. apply filters and filter the field "Payment type" - take all WALLET payments. Save the result. 2. Apply filters and take Stripe payments. 3. Take total amount payables amount and deduct from payment amount (field Amount) - the difference will represent the amount that was used from returns balance of payer. 4. Add wallet payments that have been filtered in step 1 to the amount in step 3.
      • In addition check, if in the list "List of payments that are marked as paid to returns" there are payments that were confirmed as paid in, but without a valid entry. Such payments can occur, when there have been a double payment for the same entry (payer paid at the same moment from several devices) or the payment´s confirmation arrived after the entry was unregistered. This may happen in case of late payments (after midnight of the closing date). Such payments are accounted, but not linked to any concrete entry or product and therefore not included into the "List of payments and amount of payables for payment".

6 - Funds not paid out to authority

  • Collected revenue from entry and product fees available to be paid out from Stripe financial authority´s balance to the IBAN of the organisation managing the event.
    • The full amount of confirmed and not returned payments is shown, although when clicked on "PAYOUT" button, the amount offered for pay out may be smaller. This happens due to the difference in dates for payments in STRIPE: payment confirmed at vs available on date. Usually depending on payment method (Bancontact, card, Ideal etc), the available on date is 3-7 business days apart from the payment confirmed date. Stripe allows to pay out only payments, where the available on date is today or in the past.
    • To check the payment available on date, navigate to Finances -> Payments -> open additional details for payment:

7 - Funds paid out to authority

  • Collected revenue from entry and product fees that have been paid out from Stripe financial authority´s balance to the IBAN of the organisation managing the event or scheduled for pay out.
  • To check the payouts to authorities´ IBAN, navigate to Finances -> Payouts -> Reason "Authority share":

  • The payouts can be in 3 statuses:
    • Paid - the payout is confirmed and can be checked from IBAN records;
    • Processing - the payout is being processed and will be available on IBAN in 1-2 banking days;
    • Pending - the payout is scheduled, but waiting to be processed until the last payment in the payout will become "available" in Stripe. Such payouts are usually processed in 2-7 banking days.
  • To get an overview on the payouts and the situation with balances (list of entries and products by status per event), check Backoffice -> Reports -> Finances -> "Payouts from events to financial authority"
    • Select an event using reference code -> you will get an overview of all payout done from this event to authority´s IBAN.
    • Please note, if financial status of event is "OPEN" that may refer to the fact that there are still not paid out funds on the event´s balance.
    • The lists "Number of entries and collected fees by entry status", "Collected entry fees" and "Collected product fees" include all collected revenue from entries, in events that have been finished and have published results and events that are currently ongoing or have been ended.
    • If event´s financial status is "CLOSED" - the balances are final and there can be no changes in the list of entries or products and no additional transactions or returns. If event´s financial status is "OPEN", there may be changes in the entries´ statuses, refunds and additional payments coming in for late entries.
    • If the breakdown of all entries and products that have been paid online is needed for accounting, ensure that event is CLOSED and take the breakdowns from the report.

8 - Not paid in funds from authority (top up needed)

  • If the amount is larger than 0, this refers to a situation that there is not enough funds on the event´s balance to pay put returns or fulfill the order to pay out funds to the authority´s IBAN.
  • Such situation occurs, when the revenue from entries and products have been paid out to the authority´s IBAN and after that there have been changes in the statuses of entries or products that caused the obligation to pay out returns to riders. For example, a competition has been cancelled or some entry´s status changed from no show to withdrawal or changed.
  • Click on Pay button to top up the event´s balance.

9 - Paid in funs from authority (done top up)

  • After top up is done to cover the missing funds, the top up will be shown as paid in.
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