All financial transactions carried out in the Website and Portal are stored in the CRM against each contact so that you can analyse the data, generate reports and upload it into your accounts system. Depending on what you need it to do, the system is very flexible and boasts many different features.
All membership payments and renewals are automatically logged in your CRM via an integration with the portal. When a member signs up and their membership is due for renewal, automatic payment reminders are sent out to members, so you don’t have to chase people to pay for their membership.
If members have paid via direct debit, then payments are taken automatically. If members have paid by card, invoice, bank transfer or standing order then email reminders are sent out automatically on the run up to the renewal date. If members do not pay before their renewal, or their direct debit payments fail, the system locks them out of the portal and stops them from accessing their online benefits. Their membership status goes to Lapsed and admins have full visibility of this via the CRM.
The Finance system will be used to track all financial transactions in the CRM. Transactions are automatically generated when payments are received by card or Direct Debit. Other Financial details can be added manually to allow the tracking of expenditure and budgets to allow comprehensive reporting and analysis of expenditure and income against budgets.
The Payments system can be used for many different purposes:
A financial history, where available, will be available to Members and Non-Members who have an account. They can view all of their membership payments and download receipts for purchases they’ve made (such as events and courses) via the website and portal. These payment transactions are all stored against the contact in the CRM, so you have full visibility of what people have bought. Really handy for generating reports!
The Finance system is able to generate Excel or CSV reports of Transactions which can be uploaded to your Finance system for reconciliation. Reports are compatible with systems such as Xero and Sage.. View more information on integrations here.
