The Financial Reporting section of the platform provides 8 different financial reports. Whereby, they give you an overview of your nursery finances.
Top tip: All reports are able to be exported to the management members of the nursery team.
How do I view my finance reports?
Finance > Financial reporting > All financial reports will display.
Detailed Revenue Report
This report provides an overview of your Total Income (Total invoiced amount plus funding income).
Finance > Financial reporting > Detailed revenue report.
You are able to filter the report by the following:
- Invoice date or created date.
- Date range: This will filter the report by financial actions within the specified date range.
- Invoice status: The revenue report will display the invoices relating to the status selected.
Once all filters have been inputted you are able to scroll down and see a table with the following information.
- Child’s Name
- Invoice Number
- Invoice Name
- Invoice Date
- Created Date
- Extra Items: Extra item costs allocated to this invoice
- Extra Sessions: Extra session costs allocated to this invoice.
- Funding Deficit: Funding deficit costs allocated to this invoice.
- Funding deducted: The funding deducted from this invoice as a monetary value.
- Discounts: Any discounts applied and deducted from specific invoice.
- Total Invoice amount: The total amount invoiced.
- Funding income
- Total Income
- Outstanding Balance
- Status: Current status of the invoice for example; overdue, cancelled, sent.
Can I export my detailed revenue report?
Yes, all financial reports can be exported simply by pressing the export button. You are able to export them to a member of the management team.
Finance > Financial reporting > Detailed revenue report > Select invoice date > Enter date range > Export > Select manager > Export > This will be delivered to said email address.
Credit Notes Report
This report provides you with a list of all credit notes issued.
Finance > Financial reporting > Credit notes report > Select date range > A list of all credit notes issued will appear > Filter by created by & only credit notes created by the selected person will appear.
Can I export my credit notes report?
Yes, click Finance > Credit notes report > Click export in the right hand corner > Select manager to send the report to > Export > This will be delivered to said email address.
The funding report provides a detailed list of funding amounts and hours that have been allocated to children. You can mark more funding allocations for children as received which will update the chart.
Finance > Financial reports > Funding report > Default to active funding > This displays all active funding types > Scroll down > A list of all children with funding.
Is there a way to see all of the children on a specific funding type?
Yes, click Finance > Financial reports > Funding report > Default to active funding > Filter by funding type > A list of all children on the specific funding type will be displayed.
Aged Debt Report
This report provides a detailed list of parents whose accounts are overdue and broken down over time periods.
Finance > Financial reports > Aged debt report > See time periods 0-30 days, 31-60 days, 61-90 days, 91-120 days & 120 days+
The aged debt report allows you to track any outstanding invoice amounts by the age of the debt. In the report this is split into 5 different categories. You can then click into the specific invoices to see the debt detail.
Bad Debt Report
The bad debt report provides a detailed list of invoices that have been marked as bad debt.
Finance > Financial reports > Bad debt report > Filter by Date marked or Invoice date > Select the date range > Filter by room or by specific child.
Annual Revenue Report
This report provides a 12 month overview of total invoiced and forecasted income. It will include your fees in funding.
More > Finance > Financial reports > Annual revenue report > Select specific year > A graph appears & below is a monthly breakdown of where all amounts are being drawn in from.
Why is there dark green and light green?
The dark green is the total invoiced amount & the light green is the funding income.
What is the grey line?
This line is your forecasted income.
Why does this report not show all children’s names?
This is because the annual revenue report only gives you a break down in months taking into account finances from the child’s profile but does not specifically list all children.
Why are there black figures & green figures?
This is because green shows the actual amount invoiced & black shows the forecasted amount.
The financial forecasting report provides you with a monthly overview of future fees which are forecasted over the year that you choose from the drop down. The graph displayed will always be the same as the annual revenue report graph. Under the graph a list of all the children within the nursery will be visible as well as a breakdown of their total fees.
Finance > Financial reports > Forecasting > Select forecasted year.
The graph displayed will show the total invoiced amount in dark green, funding income in light green & a grey line to mark out the nursery forecasted fees.
You are able to hover over each month & a pop up will show with the figures for each month inclusive of your invoiced amount, funded amount & your forecast.
Scroll down to under the graph & the monthly overview of future fees for children appear > On the left all children’s names will appear & their date of births (DOB) > Across the top you will see each month & an arrow > Click on the arrow.
Here you will see the following headings: Fees, consumables, extra items, extra sessions, other, funding deficit, funding deducted, discounts, total invoiced amount, funding income & total revenue.
If a child has a monetary value under any of these headings it will show in black if it has not been invoiced & in green if it has been invoiced for.
Typically, we would expect the figures in black to not be visible once an invoice has been made. However, if there is a remaining amount the remainder will still show in black. For example if the forecasted amount is £100.00 pound & we have generated an invoice for £95.00. The forecasted amount will show as £5.00.
Top tip: If this happens, please ensure your auto calculation date is set correctly. If it is not it could mean certain items like extra items will not be pulled through to the invoice.
What is the most effective way to use financial forecasting?
Due to the nature of this report predicting future fees, as nurseries you should always add in sessions for new starters along with anything they may have on their account that costs. This will result in viewing more specific figures in your future forecasted reports.
I have made an update in the child’s profile but my forecast has not updated straight away?
Do not fear, this will update please do give the system a couple of minutes to allow for this update.
Here you are able to see all payments that have been made. You are able to search for particular children you are looking for and register payments with ease in 1 action!