Event balance summary per client - main indicators

In this article the main indicators of the balance summary are explained with some examples. The balance summary can be accessed by event administrative authority via the Finances dashboard (Cashier) and via the My Finances (Shopping Basket -> Event balances) on the user´s profile. The balance summary on the user´s profile is a simplified version of the summary that administrative authority has.

The balance summary is a financial (accounting) type of report that includes the following information

1. The name of the user responsible for bookings and payments of the entries and products or services in the event. The user can be different from competing athletes.
2. Names of the athletes and horses with links to the entry forms.
3. List of the entries and products with the following details: competition code, competition name, status of entry, date and time stamp, when entry was made. The same information is presented also for products and services.
4. For every entry or product the payable amounts /returns are presented, including the amount due, amount paid, amount to be returned or returned and the total calculated cost of the entry. The meaning of indicators used is explained in the #Example-2-Partial-returns-for-withdrawn-entries-and-not-paid-in-entry
5. For every entry, the prize money is recorded, although prize money is paid out outside of Equibel, via bank transfer. For prize money, the allocated not paid out amount, paid out amount and total are presented. The meaning of indicators used is explained in more details in the #Example-3-accounted-prize-money
6. Based on payables and prize money allocated and the statuses of payments and payouts (excluding returns, all returns are presented as cumulative amounts under the totals). The following balances are calculated for every entry or product:

• Payable balance -  refers to the obligations incurred by parties (a client or an event authority) during in association with the entry that remain due and must be paid in or paid out in the short term. Negative payable balance means that event authority should pay to client and positive that client should pay to authority. If value is missing = 0, that means that everything is settled (paid in and paid out) for the entry.
• Current net balance - net amount collected (paid in) by client for the entry at the current moment.
• Projected net balance - net amount as projected revenue or loss in respect to entry after all not paid fees are paid in and all prize money paid out. Positive amount means gains from entry (entry fees amounts after being collected would exceed the prize money amounts), negative balance means losses from entry (prize money after being paid out will exceed the amount received from entry fees).

7. Totals for all payables, prize money and balances´ indicators.

Please note that if entry or product is paid externally the amounts are removed from the event balances and not shown therefore in the balance report. Exceptions are entries that have allocations of prize money. In such situations only prize money will be accounted. There can also be entries that used to have paid payables disregarding if the entry is currently marked as paid externally or not. Such entries will also be shown in the balance report.

Example 1: Not paid in entry fees - entry is registered, but not paid

• There is 1 entry in competition 7 that costs 19 EUR.
• The status of the entry is "registered" that means that order is placed, but not paid, the entry is not considered as definite (confirmed).

Overview of the accounted amounts for entry in the 1st line:

1. James Abbott has an obligation to pay 19 EUR for competition 1 with horse XXX.
2. Nothing has been paid in for this entry.
3. Nothing has been returned for this entry.
4. Total costs for entry for competition 1 with horse XXX for James Abbott is 19 EUR.
5. Payable balance for entry is 19 EUR (not paid in, but accounted as event authorities´ revenue).
6. Nothing is accounted as current net balance, as nothing has been paid in.
7. Projected net balance is 19 EUR. This is the amount that is accounted as authorities´ revenue after it is paid in by the client.

Overview of totals on the last line:

8. James Abbott has an obligations for 19 EUR to be paid to organizer.
9. Nothing is paid in by James Abbott to event so far.
10. Represents the total amount of all obligations accounted for James Abbott = 19 EUR.
11. James Abbott´s payable balance is 19 EUR - this amount should be paid to event to cover the obligations.
12. Current net balance is 0 EUR - nothing has been paid in by the client.
13. Projected net balance is 19 EUR. This is the amount that is accounted as authorities´ revenue after it is paid in by the client.

Example 2: Partial returns for withdrawn entries and not paid in entry fees for new entries

There are in total 4 entries accounted for payer James Abbott:

• Competition 1 with horse XXX: current status is withdrawn. Withdrawn entry means that registration fees (in this case 10 EUR) should be paid. The price for withdrawn entry is therefore 10 EUR.
• Competition 4 with horse XXX: participated entry (entry with result). The full price for entry with result is 32 EUR.
• Competition 1 with horse YYY: current status is withdrawn. Withdrawn entry means that registration fees (in this case 10 EUR) should be paid. The price for withdrawn entry is therefore 10 EUR.
• Competition 4 with horse YYY: participated entry (entry with result). The full price for entry with result is 32 EUR.

#Overview-of-the-accounted-amounts-for-entries-with-horse-XXX

#Overview-of-the-accounted-amounts-for-all-entries-totals

#Overview-of-the-accounting-of-returns-totals

#Overview-of-totals

Overview of the accounted amounts for entries with horse XXX in competitions 1 and 4:

1. James Abbott has paid 32 EUR for competition 1 with horse XXX.
2. James Abbott is entitled for return of 22 EUR (starting fee component for the competition 1). 22 EUR is accounted on the returns´ balance of James Abbott.
3. Total costs for entry for competition 1 with horse XXX for James Abbott is 10 EUR.
4. Current net balance for entry is 10 EUR (already paid out and accounted as event authorities´ revenue).
5. Projected net balance is 10 EUR. The projected net balance is the same as current net balance as there are no obligations that remain due.
6. James Abbott has a not paid in obligation of 32 EUR for competition 1 with horse XXX. This obligation is accounted and invoiced in J. Abbott´s shopping basket.
7. Total cost for James Abbott and revenue for event´s authority is 32 EUR.
8. Payable balance for the entry is 32 EUR. A positive amount means that this amount is accounted as authority´s revenue.
9. Projected net balance for the entry is 32 EUR. This amount represents the projected (future) revenue of the event´s authority after James Abbott makes the payment of the entry fees.

Overview of the accounted amounts for all entries (totals):

10. James Abbott has a total of 64 EUR accounted as obligations that remain due (2X entries in competitions 4 with 2 different horses): 32 EUR + 32 EUR.
11. James Abbott has paid in a total of 64 EUR for 2 entries in competition 1 with 2 different horses.
12. 44 EUR is accounted on James Abbott´s returns balance. This amount comes from 2 paid entries in competition nr 1. 22 EUR + 22 EUR were put on returns balance and currently are available to be used to pay for other entries in the event (value nr 17).
13. Total costs for all payables for James Abbott is 84 EUR, it includes 10 EUR X 2 for 2 withdrawn entries in competition 1 and 32 X 2 for two entries with results in competition 4.
14. Payable balance of James Abbott (amount to be paid for entries) is 64 EUR.
15. Current net balance is 20 EUR, it includes confirmed payments for 2 withdrawn entries. Please note that 2 entries with results (total of 64 EUR) are not included as the full amounts are not confirmed as paid.
16. Projected net balance for event´s authority is 84 EUR. After all obligations are covered the authority´s revenue will constitute this amount.

Overview of the accounting of returns (totals):

17. James Abbott has 44 EUR available on his return´s balance. This amount is accounted on the returns balance and can be used to pay for entries and products within the event. 22 EUR comes from competition 1 with horse XXX and another 22 EUR comes from competition 1 with horse YYY. Returns are accounted because the client paid 32 EUR for entries in competition 1, but the price for entry in competition 1 has been changed to 10 EUR due to the change of the entry´s status to "withdrawn".
18. There are no paid out or used returns. After 44 EUR will be used to cover partially the costs of entries in shopping basket, the amount of 44 EUR will be moved from the returns´ balance (available returns) to the paid out or used account.
19. Shows that 44 EUR is accounted on returns´ account.
20. Shows that current net balance of returns is 44 EUR (is paid in by client and available to be used).

Overview of totals:

21. James Abbott has an obligations for 20 EUR to be paid to organizer. 20 EUR is calculated as following:

    32 EUR + 32 EUR (costs for 2 entries in comp. 4) - 44 EUR (money returned for 2 entries in comp. 1) = 20 EUR

22. Represents the amount already paid in = 64 EUR.
23. Represents the total amount of all obligations from 4 entries accounted for James Abbott. Calculated as: 10 EUR + 10 EUR + 32 EUR + 32 EUR
24. James Abbott´s payable balance is 20 EUR - this amount should b paid to event to cover the obligations.
25. Current net balance is 64 EUR - this is the amount already paid in by the client.
26. Projected net balance is 84 EUR - this is the final total revenue of the event´s authority from the orders by James Abbott in this event, after all obligations are paid in.

Example 3: accounted prize money

1. 37 EUR allocated as prize money and is not marked as paid out. "Not paid" means that payout is not confirmed in the Prize money report in Finances.
2. Total of prize money allocated for entry is 37 EUR.
3. Payable balance is negative and constitutes 37 EUR. That means the event´s authority has to pay out 37 EUR to the prize money receiver.
4. Current net balance for James Abbott is 32 EUR - this is the amount paid in to the event as entry fees that is considered as authority´s revenue.
5. Projected net balance is -5 EUR. It is calculate as payable balance plus current net balance:

-37 EUR + 32 EUR = -5 EUR

(the total outcome for authority after payment of prize money)

Example 4: paid and unregistered entry with full return paid back to client

• James Abbott has paid for entry in competition 2 with horse XXX.
• At some moment, entry was unregistered and paid amount fully returned.

The payments and returns are accounted as following:

1. Amount of 17 EUR has been paid for competition 2.
2. Amount of 17 EUR has been returned for competition 2.
3. Amount of 17 EUR has been paid out or used in the event. Provided that there are no other obligations, this amount has been returned to payer.
4. Total not paid obligations for James Abbott in this event is 0 EUR.
5. Total paid obligations (after pay out of returns) is 0 EUR and the total costs of all entries also 0 EUR.