Real-Time Accounting

Large or Complex Organizations

As money is processed or otherwise adjusted (i.e. refunds on downgrades, payment cancellations, charge backs, misappropriated funds, etc.) against membership dues and/or fees, Journal Entries (JE’s) post against General Ledger (GL) accounts which are established as a chart of accounts in support of the organization's accounting practices. As membership components are paid or cancelled, corresponding counts are produced based on defined Commission Codes (ex: New, Renew, etc) so you know exactly how many members are in force at any given time.

Complete tracking details are maintained for commissions and other sales reporting. MemberzPlus also maintains complete revenue tracking data based on established periods against which dues are presented as earned/unearned for the current period and historically since membership conception. A variety of printable reports in support of accounting practices are also available directly from the system to support all areas of your business.

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Accounting and Finance

Most membership systems leave the accounting details to other systems. Very little effort is given to providing transactional level accounting details that can be transferred to your other accounting systems on a scheduled basis. To ensure that you can meet your auditing obligations, regardless of what they are, and give you the data you need to manage your business in real-time, we have taken the accounting and finance features of our system very seriously.

General Ledger

Rest assured you have complete control of your chart of accounts. User-interfaces are provided so that you can easily set up your cash and revenue accounts. Once you have established your chart of accounts, you have full control of account to transaction mapping to allow you the flexibility of tracking your money at the lowest possible level.

Member Transactional Accounting

Here is where the true power lies with our approach to real-time transactional accounting. Once the general ledger is created and the transactional mapping setup is complete, as transactions work their way through the system as part of your normal business operations, the system is creating debit and credit journal entries to your cash and revenue accounts as well as sales agent activity records for every financial transactions regardless of the channel (i.e. web site, back office, call center, front line, etc.). This is not just for applied payments but also includes dues adjustments, write offs, refunds, charge backs, and any other member level transaction.

The journal entries can transfer on a scheduled basis to your accounting software in summary or detail. The sales agent activity records provide full accounting of revenue associated with a host of key measurement items (i.e. sales agent ID, commission code, channel, branch, division, member type, dues component, etc.) at the member level. Our customers use this information to provide sales agent commissions as well as judge the effectiveness of a marketing campaign or promotion.

Depending on your dues structure, you may be investing a great deal of effort in managing money in your suspense accounts. We have adopted some proven techniques of applying money based on defined hierarchy that helps mitigate that effort. You can spend a great deal less time working on your suspense accounts while gaining the advantage of recognizing revenue quicker than ever before.

Reports

With our accounting features you can rest assured that your accounts will balance at the end of each day and that the debits always equal the credits. A full suite of accounting reports is available to support all of your operations from processing large lockbox files to balancing online merchant accounts.

Sample Reports Include:

  • Payment Posting Summary and Detail
  • Reconciliation and End of Period Balancing
  • Payment Summary and Details by Payment Type
  • Payment Summary and Detail by Channel
  • Journal Entry Summary and Detail
  • Sales Agent Summary and Detail
  • Commission Summary and Detail
  • Campaign Summary and Detail by Market Code
  • And many more...

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