Understanding Your Payment Statements

Thursday, March 31, 2016

Post Description: The Invoices & Payments page provides both a high level snapshot of your race finances, as well as a detailed report to help with reconciling and drilling down the data. Event directors can easily view the financial information for each payment they receive from Race IT from the Organization page. Every payment made to an organization is listed under Invoices and Payments and can be accessed at any time.

Category: Event Directors, Whitepapers

Section: Featured

The Invoices & Payments page provides both a high level snapshot of your race finances, as well as a detailed report to help with reconciling and drilling down the data. Event directors can easily view the financial information for each payment they receive from Race IT from the Organization page. Every payment made to an organization is listed under Invoices and Payments and can be accessed at any time. A copy of the payment report is also emailed to the Primary Contact for the organization each time a Race IT payment is processed. To view more details about a particular payment, simply click on the check or deposit number.

The Invoice & Payment Details page shows an overall summary of the transactions for your event, as well as a specific breakdown of each transaction type for the payment period selected. If there are multiple events under the organization, you will also see a payment breakdown by each event. These totals include all registrations, products, donations, refunds and question based price adjustments – anything that is included in that pay statement. If any refunds have been processed, this amount will also show.

There are a few informational items that are shown on the payment summary:

  • Amount – Actual amount the participant was charged for online registration or the amount manually entered by the organizer (payment by check or cash)
  • Offline – Fee for offline or 100% discounted transactions will appear here
  • Customer Fee – The amount of the processing fee that was paid by the participant
  • Org Fee – The amount of the processing fee that was paid by your organization
  • Discount Total – The total of discounts given
  • Quantity – The number of registrations/donations/products in the report
  • Tax – The amount of taxes charged (if applicable)
  • Grand Total – Sum of all funds your organization received in this payment

The details for a payment are located below the summary. This section is similar to the Payment Summary, but will show each transaction that's included in the payment. You can also see what is included in each transaction, such as products, donations or multiple registrations.

The breakdown items for the details area are:

  • Transaction Date– The date that the money settled from the participants' bank account
  • Confirmation– Unique code that is applied to every transaction that is processed through the Race IT system
  • Payee First and Last Name – The name of the person who paid
  • Payment Type – Form of payment used for the transaction
  • Transaction Type – Description of the transaction
  • Amount – Actual amount the participant was charged for online registration or the amount manually entered by the organizer (payment by check or cash)
  • Offline – Fee for offline or 100% discounted transactions will appear here
  • Customer Fee – The amount of the processing fee that was paid by the participant
  • Org Fee – The amount of the processing fee that was paid by your organization
  • Discount Code– The code that was used for a participant to receive a discount
  • Discount Amount– The amount of the discount
  • Paid To Org – The amount of funds your organization recieved from the transaction
  • Tax – The amount of taxes charged (if applicable)

Payment reports can be exported to either an Excel document or PDF file for further reconciliations and record keeping. There are multiple options when it comes to the content included on the payment export. You can download the summary section, just registrations, products or donations or you can download the report in its entirety at any time.

Tags: Payments, Event Directors

Understanding Your Payment Statements

Thursday, March 31, 2016

Post Description: The Invoices & Payments page provides both a high level snapshot of your race finances, as well as a detailed report to help with reconciling and drilling down the data. Event directors can easily view the financial information for each payment they receive from Race IT from the Organization page. Every payment made to an organization is listed under Invoices and Payments and can be accessed at any time.

Category: Event Directors, Whitepapers

Section: Featured

The Invoices & Payments page provides both a high level snapshot of your race finances, as well as a detailed report to help with reconciling and drilling down the data. Event directors can easily view the financial information for each payment they receive from Race IT from the Organization page. Every payment made to an organization is listed under Invoices and Payments and can be accessed at any time. A copy of the payment report is also emailed to the Primary Contact for the organization each time a Race IT payment is processed. To view more details about a particular payment, simply click on the check or deposit number.

The Invoice & Payment Details page shows an overall summary of the transactions for your event, as well as a specific breakdown of each transaction type for the payment period selected. If there are multiple events under the organization, you will also see a payment breakdown by each event. These totals include all registrations, products, donations, refunds and question based price adjustments – anything that is included in that pay statement. If any refunds have been processed, this amount will also show.

There are a few informational items that are shown on the payment summary:

  • Amount – Actual amount the participant was charged for online registration or the amount manually entered by the organizer (payment by check or cash)
  • Offline – Fee for offline or 100% discounted transactions will appear here
  • Customer Fee – The amount of the processing fee that was paid by the participant
  • Org Fee – The amount of the processing fee that was paid by your organization
  • Discount Total – The total of discounts given
  • Quantity – The number of registrations/donations/products in the report
  • Tax – The amount of taxes charged (if applicable)
  • Grand Total – Sum of all funds your organization received in this payment

The details for a payment are located below the summary. This section is similar to the Payment Summary, but will show each transaction that's included in the payment. You can also see what is included in each transaction, such as products, donations or multiple registrations.

The breakdown items for the details area are:

  • Transaction Date– The date that the money settled from the participants' bank account
  • Confirmation– Unique code that is applied to every transaction that is processed through the Race IT system
  • Payee First and Last Name – The name of the person who paid
  • Payment Type – Form of payment used for the transaction
  • Transaction Type – Description of the transaction
  • Amount – Actual amount the participant was charged for online registration or the amount manually entered by the organizer (payment by check or cash)
  • Offline – Fee for offline or 100% discounted transactions will appear here
  • Customer Fee – The amount of the processing fee that was paid by the participant
  • Org Fee – The amount of the processing fee that was paid by your organization
  • Discount Code– The code that was used for a participant to receive a discount
  • Discount Amount– The amount of the discount
  • Paid To Org – The amount of funds your organization recieved from the transaction
  • Tax – The amount of taxes charged (if applicable)

Payment reports can be exported to either an Excel document or PDF file for further reconciliations and record keeping. There are multiple options when it comes to the content included on the payment export. You can download the summary section, just registrations, products or donations or you can download the report in its entirety at any time.

Tags: Payments, Event Directors