Even for those individuals with a background in financials, its helpful to review terms and definitions.
General Financial Terms
Line Item | Specific, seasonal or non-seasonal debits and credits defined for your camp. |
Debit
| A sum of money taken from an account (formerly known as a “charge”), like tuition. A positive number. |
Credit | a sum of money placed into an account; money available for a client to spend, like a discount. A negative number. |
Paid Activity | an activity or trip for which there is a special charge. |
Statement | An identical list of goods or services provided to a camper family as seen in an invoice, but with a statement of any balance due to the camp or owed to the family. However, creating a statement does not update (push forward) the billing cycle (where applicable) or family records in the same way that creating an invoice would. |
Invoice | A list of goods or services provided to a camper family, with a statement of any balance due to the camp or credit owed to the family. Creating an invoice rather than a statement updates billing cycles and family records, where applicable for billing preferences set to Auto Bill. |
Billing | The process by which one creates and sends invoices and/or statements to camper families via email, letter, or both. |
Batch Operations | The process by which one may enter transactions to multiple records at one time. This may be done for campers, family or staff. |
Create and Edit Financial Definitions
The following items must be defined during initial setup of Financials. These definitions are non-seasonal, so once they have been completed, they will carry over for application season after season.
Note: If you're opening a new season, you don't need to create new definitions. They will have rolled over. Just confirm that no new items are needed for the upcoming season.
Video Tutorial
Financial Administration Definitions:
The first step in setting up your Financials is to navigate to the right side of the page and select the "Definitions" dropdown menu. We recommend following the list in order and adding your camp's unique setup as you proceed.
Additional Options Definitions: Categories for options you may create such as paid activities that can show up on the Online Camper Application.
Billing Groups Definitions: Groups of people you want to bill. These can be helpful when trying to distinguish between two billing populations at camp.
Billing Preference Definitions: The different ways camps allow parents to pay tuition. These include standard invoicing and installment plans.
Financial Category Definitions: Categories created by camps to group debits and credits into logical families.
Pricing Identifier Definitions: Unique identifiers within a specific category that can be used to apply variable charges such as transportation.
Pricing Package Definitions: These are packages you can define that offer the family a price break when purchasing multiple sessions or weeks.
Discount Order Definitions: The system has four hard-coded discounts: Sibling, Multiple Session, Promotional Code, and Pay in Full. Arrange these in your preferred order. Note: “Early Bird” or “Early Enrollment” discounts are always calculated first.
Create and Manage Line Items (Non-Seasonal)
After completing all your definitions under Financial Administration, move on to detailing your Master (Non-Seasonal) Line Items. These non-seasonal line items only need to be defined once and can then be activated each season.
Line Items are what parents will see on their invoice, so its best to make descriptions short, to the point, and grammatically correctly. Line Items are very specific debits and credits. that fit into the more broad Financial Categories you created earlier.
Example Line Items:
Full Summer Tuition
Week One Tuition
Horseback Riding
Late Payment
Returned Check Fee
Sibling Discount
Early-bird Discount
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