Are you using Jackrabbit’s revenue tracking features?
It’s quick and easy to record revenue in Jackrabbit with just a few easy steps each month. This will make it your income and outstanding fees visible to you so you can stay on top of the financials that fuel your business.
We’ve outlined suggested Best Practices for Monthly Billing/Revenue Tracking for how you may be using Jackrabbit. These Best Practices should be followed monthly – or on your selected billing cycle – to be the most helpful to you.
If you use fixed fees or set Family/Student discounts, you should:
Confirm set fixed fees and discounts
Families Menu: Advanced Search or Students Menu: Advanced Search option and search on Fixed Fees or Discounts. Make sure these Fixed Fees or Discounts still apply or adjust as needed.
(These are located in the Family Billing Tab or the Student Summary page)
If you are not using fixed fees or set family discounts, you should start here:
Step One: Post tuition fees
Using the Transactions Menu: Post Tuition Fees or Post Tuition Fees by Total Hours.
TIP: Use the templates (Favorites) option to save your reoccurring selections and discount settings.
Step Two: Search for previous credits that need to be Linked to fees
From the Transactions Menu: Advanced Search Report – locate any payments (or partial payments) that have not been Linked to fees. Use the Special Search Option: Payments with Unapplied Amount Remaining. Make sure to use a large date range, in order to capture all unapplied payments made. Link any unapplied credits to the new fees.
TIP: Doing this immediately after posting tuition fees provides you the opportunity to link any unapplied payments to the newly posted fees. Since Jackrabbit works on the concept of linking fees and payments, this ensures accurate financial reports and records.
If you are using Jackrabbit’s eCommerce feature, you should:
Process your credit cards and bank drafts
Use the Transactions Menu: Process Credit Cards/Bank Accts. After the batch completes processing, print the report that displays as a quick reference of what was accepted and declined.
If you are not using Jackrabbit’s eCommerce feature, you will have to:
Use a manual process to post each family’s payment
You will manually post each payment in the Family account as it is received.
TIP: Activate eCommerce now! Processing payments one family at a time can be a tedious and time consuming process each month. Save you and your staff hours of time each month. Families who have fees due and have a credit card on file can be processed all at once just make a couple key selections, submit and you’re done!
Another Option: Email statements to families using Reports Menu: Statements – Email.
Questions? Contact our support team through your database.