The transaction report is an amazing tool that allows the pool admin to quickly look up income by "fee types" and record the income in their bookkeeping software. Filters can be used to sort income by "fee type", by date and by payment method. This is the tool that most clubs use to reconcile high level income categories and record them in their accounting software.
Clubs group their products by the 'fee type'. (see Fee Types - Use and Importance for more information) This grouping by 'fee type' (also called a 'Category') allows your bookkeeper to pull charges for one particular 'Fee type' or all if need.
In general, income at your club will fall into 2 distinct revenue streams; Operational and Capital. Operational income is used to pay for the 'day to day' operations of the club (electric, water, internet etc.) While Capital income is typically put into a saving account to pay for large ticket items such as a 'new roof for the club house' or 'new fences for the tennis courts'.
Your club may have many fee types in use. Here is a sample structure of income & the corresponding fee types useful for bookkeeping purposes.
- Operations Income - checking account
- Membership Dues
- House Guests
- Cabana fee
- Capital Income - saving account
- Capital Improvement
- Initiation Fees
- Maintenance Fees
Follow the steps below to filtered your income by fee type and enter the amounts into your accounting software, such as QuickBooks. (see Basic QuickBooks Processes)
Go to the WordPress menu on the left side of your screen
In the Reports & Exports menu, click on the Transactions Report menu item.
On the next screen you’ll see a list of all payments, organized by date. Use the filtering tools at the top of the screen to specify the criteria you need for your report. For example, set the date range to the last 7 days if you reconcile your accounting weekly or for the entire year if you are recoding totals.
Next use the Payment Method and Fee type to drill down into the extract revenue that you want to record. (In this example the Capital Improvement Fee)
You can then simply run the report to get the lump sum, then record it your accounting software.
In this example the club has a total of $750 that will be deposited into the Capital Improvement account for the year 2022.
Please note: The column heading CATAGORY is used to display the FEE TYPE. For charges that originate in the point of sales system the Transactions Report only displays charges that are complete. No pending or unpaid charges appear on this report.
the word Fee Types is used for Products
the word Category is used for your Point Of Sale items.
The video below shows you several different Fee Type look ups. Please take a moment to review and let us know if you have questions.
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