As you wrap up another year with your dance studio, gymnastics gym, swim school, or youth activity center, it’s the perfect time to gather important information from the past year. With class management software, you conveniently have all the information in one place so it’s a huge time-saver to pull reports for what you need!
Annual reporting with Jackrabbit Class doesn’t have to be hard. That’s why the Jackrabbit team put together a Year-End Reporting Resource Center, complete with an interactive checklist to make gathering this information as easy as possible.
Why are annual financial reports important for your youth activity center?
The best part about having class management software is having data at your fingertips. Year after year, it’s important as a business owner to go back and look at what went well, what didn’t go as well, and how to move forward. Without the data and reporting to back it up, how can you make the right business decisions? Asking for a friend, of course!
In addition to having access to data to drive business decisions, another benefit of annual reporting with Jackrabbit is tax reporting. Want to make your accountant do their happy dance? Use the reporting functionality in your class management software to give them the information they need when it’s time to file your annual taxes.
Speaking of year-end taxes, parents may also ask for information to submit with their yearly tax information. This is common if you live in a state that allows tax deductions for childcare or your youth activity program qualifies for specific education expenses.
Of course, Jackrabbit Class makes it easy-breezy for you to send out year-end statements to all families at once or show parents how they can get the information they need directly from the Parent Portal.
Before you dive into the annual reports you need from Jackrabbit Class, make sure you have clean, accurate data to work with. After all, what you put in is what you get out when it comes to data. Some quick and easy things to do to get ready to start running reports include:
- Find and apply any unapplied payments or account credits.
- Reach out to families who still have a balance, requesting payment.
- Archive classes that are no longer active.
- Send inactive families to the Lead File if they do not need to access the Parent Portal or be included in enrollment reports.
Now that that’s done, you can begin to look at the details of annual financial and enrollment reporting.
5 financial reports you need for annual reporting with Jackrabbit Class
Jackrabbit has a full suite of reports that can help you pull information on anything you need. And when it comes to financial reporting, you need to see the full year at a glance so you can continue to make great business decisions.
Here are 5 financial reports that are important to your annual reporting goal:
- Fee Summary report – what fees were posted?
- Paid Fees report – how much revenue and taxes were collected?
- Revenue Summary report – how much did you discount?
- Aged Accounts Detail – how much is still past due?
- Deposit Slip report – what kind of non-monetary credits did you give?
Why are annual enrollment reports important for youth activity centers?
Let’s shift from looking at what your accountant needs to wrap up the previous year and take a look at what you need to plan for a new year or session of classes.
If you had a way to optimize your gymnastics, swim, or dance classes to retain more students, fill more classes, or make your most in-demand classes more available would you do it? (cough–enrollment reporting–cough)
Jackrabbit’s enrollment reports help you visualize what opportunities you have for an upcoming session or year to maximize class size and revenue potential, as well as aid in future planning. Here are a handful of reports you should run at the end of the year to ensure business growth.
4 Enrollment reports to run annually using Jackrabbit Class
Enrollment Detail Report
Which students were enrolled in classes last year but not this year? Jackrabbit’s Enrollment Detail Report helps you quickly identify who is not registered for your upcoming season.
Drop those families a postcard, give them a call or reach out via email to let them know that you miss them and look forward to celebrating another great year of classes together at your program. When a retention tool is this easy to use, it shouldn’t be overlooked!
Student Attendance Report
Crystal balls don’t exist to tell you which students may not return to classes at your swim school, gymnastics gym, or dance studio. The Student Attendance Report does, however, and it’s a great way to see which students may be on the fringe of not re-enrolling based on last season’s attendance.
Run this report to see who at your program is constantly missing then contact that family to see what the issue is. Some grade-A customer service can go a long way when it comes to retaining a student who is habitually absent!
Enrollment Snapshot Report
Want to visualize your potential maximum class revenue? The Enrollment Snapshot Report just became your go-to tool. Intended to give you a quick snapshot of each class, this report includes revenue from students currently enrolled vs the maximum revenue if the class were full.
Talk about leaving money on the table, huh? Let this tool motivate you to ensure you’re marketing classes that aren’t full so that you can achieve your full revenue potential each year!
If you don’t know which classes are the most in-demand at your facility, the Search Waitlist Report is a great resource. Run this report to determine if you need to add additional classes or if you can move students to another class.
Who said maximizing class size and revenue had to be time-consuming?
Whether you’re running annual reports with Jackrabbit Class to prepare for taxes, planning for a new year, or anywhere in between – it’s important to remember that the quality of data going in reflects the quality of data coming out. It may be tempting but don’t skimp on the details.
Ready to set your facility up for a successful year of financial and enrollment reporting with Jackrabbit Class? Head to our Year-End Reporting Resource Center and download your copy of the End-of-Year Checklist!