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What is ePayment & Why do you need it?

ePayment is a Better Way to Collect Fees!

ePayment is a huge umbrella for any commercial transaction conducted electronically on the Internet.  In today’s world, you can buy almost anything online. If you’ve ever purchased something from Amazon, Expedia, Groupon, you’ve used ePayment. It’s very rare that a company does not have an option for you to pay online with the boom of technology.

With Jackrabbit, your customers can pay their bills online too! There are a few different ways they can do this and several reasons we think it’s a priceless feature. Read about one of our customers fear about going to ePayments and why they haven’t looked back here.

Why will ePayment help your business?

Allow customers to pay online to please them.

Through the customer portal, your customers can pay their bill 24/7. This is a huge benefit to your customers to be able to see their account at their convenience. Having customers pay online will decrease the amount of questions to your front desk dramatically.

Reduce the amount of aged receivables.

Finding out who owes you money has never been easier. With one click of a button, you can see which customers have an outstanding balance. From there, you can contact the customer knowing exactly how much they owe and what the charges are for.

Enter payment information once and let families update from there.

Eliminate manually entering credit card numbers or bank draft information on a monthly basis by saving the information securely through one of our preferred gateway partners. This will cut down staff hours to process payments, managing follow ups, and less margin for error.

With the parent portal, your customers can update their information on their own. If an address changes, card expires, etc. they can login and change that without having to contact the front desk.

Keep payments and fees organized.

Each family has a transaction tab showing what they have been charged for, what they have paid, any credits to the account, and an outstanding balance. This is very easy to understand and the customer can even see this information through their portal.

With one of Jackrabbit’s preferred providers, receipts for payments are automatically emailed directly to you and your customer.

Smoother cash flow with mass posting fees and payments.

You can run batch payments in Jackrabbit meaning that a fee will post to each customer’s account with the click of one button. Not having to go into each family’s account to post a fee saves hours of time each month. To save even more time, customers with a credit card or bank draft can be set up for recurring payments. That way, when you collect payments, you can do it in a huge group to ensure timely payments.

What do you need to process payments?

To process payments in Jackrabbit you’ll need a gateway account, and a merchant processing account.  The gateway’s role translates transactions submitted through Jackrabbit from ‘bunny’ language into ‘banking’ language. It also stores families’ payment information safely in a secure ‘vault’; protecting both you and your client’s sensitive information! The gateway then forwards the payment on to the merchant processor who works with the bank to settle payment(s).

How can you take payments?

After you choose one of Jackrabbit’s preferred providers, you have a few options on how you want to collect payments from your customers.

  1. Customer Portal – If you take advantage of this free feature, your customers can make payments directly through their portal.
  2. Credit Card – You can take payments individually or process them in batches [groups].
  3. Bank Draft – You can take payments individually or process them in batches [groups]. *Not available in all countries.

Note: This is a high level view of how you can take payments. For further details, please ask your gateway provider or our support team.

How do you get started?

The first step in getting started with ePayment in Jackrabbit is to contact one of our preferred providers. They will assist you with getting those accounts setup.

Learn more about our preferred providers here.

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Open Water Adventures Uses Jackrabbit to Handle Rapid Growth and Liberate Staff

www.openwateradventures.com

1 location, 320/420 swimmers with seasonal swing, 14 instructors

Ashton Gantz, Administrative Director

THE CHALLENGE

Open Water Adventures had their manual systems down pat. They were comfortable with Excel spreadsheets and their homegrown processes for managing classes, payments and student information seemed to work just fine. But as they began to experience rapid growth – doubling their student base in one year – there were just too many details to handle without some sort of organizational tools and automation.

THE SOLUTION

Jackrabbit helped OWA to put an infrastructure in place to easily expand the number of students they could handle and the reporting tools to monitor all business critical details. Online registration, the portal and automated payment processing have made a huge difference in the accuracy and speed with which they can handle invoices and payments and the professionalism and convenience they can offer students in doing business with them. And being online, the system gives staff the freedom to work from wherever they need to be.

In addition to core business functions, Jackrabbit’s Time Clock provides OWA with ways to improve their payroll process. The time-savings alone takes the process from 3-4 hours down to 20 minutes for the payroll processor and staff can log their hours in a couple of minutes from their iPhones or iPads.

There are powerful features in Jackrabbit that give users access to the information that they need every day. The Weekly Calendar view, for example, is very helpful because of its filtering options. It allows users to eliminate multiple clicks to get to very specific information and makes them very efficient and informative when answering questions.

JACKRABBIT ADDED VALUE

Jackrabbit helps Open Water Adventures to accommodate growth and enhance their professionalism without stressing existing resources. In fact, putting Jackrabbit in place has helped OWA be more knowledgeable about their class, student and financial details.

“Jackrabbit has helped us handle our rapid growth but it has also helped us to be better business managers because we know more about what is going on in every area of the business. We have powerful tools at our fingertips and a great support staff at Jackrabbit to help us when we have questions.”  — Ashton Gantz | Open Water Adventures

Head Non-Payment Off at the Pass

Cheer Professional Magazine shares great information about a Cheer Gym and the way it handles families that don’t pay in “When Families Don’t Pay: 5 Things You Can Do”. The Nevada gym owner featured in the article has five ways that she handles collections when the sticky situations of non-payment arise. These are great ideas for any type of facility – if you have to face collections.

There is a solution that helps you avoid even getting in the collection situation to begin with. Take advantage of software system features that enable you to automatically collect tuition (or any other types of fees) with a mouse click. Auto payment features offered by Jackrabbit’s online class management system streamline payment processing and give you a quick and easy way to store and process credit cards to get your money immediately. This makes you happy and makes parent happy because they can pay you the same way they pay most of their other obligations.

If you have this process working for you on the front end, users note that they rarely get in the collection business at all. The five options noted in this article are great ways to address collections – if you have to do them. And keep them in mind if you need them. But why do collections if you don’t have to?

They are:

  • Embarrassing for the parent
  • Time-consuming for your staff
  • An interruption to your money flow
  • Sensitive situations that cause stress in your client relationships

Why risk all of this happening? Head it off at the pass (with auto payment processes) and make everyone happy!

Tips from Customer Support: Linking Fees and Payments

Our advice and tips come directly from our Support Team’s experiences with you.   

Check out Section 8 in the Jackrabbit User Guide: Understanding the Importance of Linking Fees and Payments.  In order for your Revenue to be recorded properly in Jackrabbit you must be sure that your Fees and Payments are properly linked.
The process of linking ensures that Jackrabbit knows what Category 1 or Bucket to put the money in.  If Payments are not linked in Jackrabbit, they are considered “unapplied” and will show up as a large amount of unapplied money when you pull Revenue Reports.

It is easy to find and correct unapplied payments in Jackrabbit.

Simply run a Transactions – Advanced Search – Special Search Option – Fees with unapplied amounts.  This will find any Fees that do not have Payments applied or Linked to them.  It is best to pull reports weekly to see if there is any money that needs to be properly applied.

Reviewing Section 8 in the User Guide called Ensuring Accurate Revenue Reporting in its entirety is very helpful in understanding how best to ensure your Accounts Receivables are recorded accurately.  This section will show you examples of the best reports to run and how best to organize your revenue.

As with anything in Jackrabbit, support team members are happy to schedule calls to discuss your set up in Jackrabbit. Just use the support button to request a call!

Check your Jackrabbit User Guide often for new updates and enhancements!