Presentation on theme: "Event Reconciliation Step – by – Step Instructions For U.S. Managing Directors."— Presentation transcript:
Event Reconciliation Step – by – Step Instructions For U.S. Managing Directors
The enclosed instructions are to assist you with the post-event reconciliation process. Please have all necessary documents in hand to assist you in proceeding through each step. FOR ALL OTHER EVENT SERVICES, CONTACT: Jenn Simpson Program Coordinator (972) 620-9995, ext. 1008
To begin your event reconciliation, log in to the site, which will take you to the Members Directory (your homepage). STEP 1
Click the “Past Events” link to add attendees that have registered the day of the event by check or credit card. STEP 4
To add attendees at or after the event, click the “Add Attendees” link. If you do not have additional attendees to add, skip to Step 18. STEP 5
If the additional attendees you need to enter are members, click the “find sign-in name” and skip to Step 11. If they are not members, continue to next step. STEP 6
For non-members, click the “highlighted option” to register them. STEP 7
Enter all pertinent information for the non-member registrant and click “Continue”. STEP 8
Enter the appropriate price and click “Update Price.” After the price is updated, select whether the payment was a new credit card or physical check received, and “Click Here to Continue Your Registration”. STEP 9
Fill in the appropriate credit card data and click “Update”. Then, move to Step 12. STEP 10
Type members last name into the Search Term box. STEP 11
Click your “Event Reconciliation” link. A form will open up in an Excel format that you can save anywhere on your computer. STEP 26
Please save this form to your computer for easy reference. You will complete all totals in this form before submitting to the corporate office. STEP 27
Complete the following fields: 1. Your Name 2.Event Location 3.Chapter ID 4.Date of event 5.Event Type 6.Event ID – Accounting dept. will complete for you The information to complete the event reconciliation will be found on your events page. STEP 28
Open up the “Accounting Report” and Save to your computer. You will need to attach a copy of this as part of your event reconciliation package. STEP 29 You will need to have your Event Reconciliation Form open to complete the next few sections.
Place total of all credit cards (cell K11) in the field marked “Total of all Credit Card Charges” under the “Events Payment Received” or “Accounting Report” column as demonstrated in the next slide. STEP 30
“Event Payments Received” and “Accounting Report” will always be equal. The amounts should never differ. After credit card charges, continue entering the subtotals of any paper checks as subtotaled on your accounting report. STEP 31
The total of all payments from credit cards and checks– as shown in cell K12 – will match the amount of the “total amount collected” on your reconciliation form as shown in the next slide. STEP 32
The “total amount collected” will match your accounting report total. Once you have completed your accounting report totals, you are now ready to move on to your club bill and Foundation donations. You will need to enter the amount of the invoice or receipt you received from the club or venue after your event. Fill free to add notes in the notes column, concerning your venue. (Remember to attach a copy when you send it in.) STEP 33
Form the Events page, click “Foundation Form” link. STEP 34
Total all donations and enter on your reconciliation form under the “Foundation Donation Totals” section, as shown on next slide. STEP 35
Fill in Foundation Donations Total. Enter any local Sponsorship Dollars Collected for your event in the next block of the Event Reconciliation Form. Complete “Notes to accounting staff” should you need to report any other pertinent information. (For example: 2 paper checks sent in mail OR awaiting bill from venue) STEP 36
For total numbers of paid members, non-members, guests and tables, reference the Membership Status column of your accounting report. STEP 37
Once your event reconciliation package is received and processed by the corporate office, you will receive a Statement of Registration Reimbursement as an attachment in your email inbox. It will include the date of your check or deposit. STEP 39
Cash and check payments fields will show the totals collected from attendees who paid with cash or a check. STEP 41 The checks are taken out of your gross revenue – shown later in the statement.
The credit card section will show the total of all credit card charges for registered attendees. STEP 42
The highlighted Subtotal is the total of all the cash, check and credit card payments. STEP 43
The number of credit card transactions are the total number of credit card transactions found on the accounting report. STEP 44
The 20% Corporate fee is the fee that you pay to the eWN Corporate office. It is calculated by taking the subtotal and multiplying it by 20%. (For example: $395.96 x.20 = $79.19) STEP 45
Credit Card Transaction Fees are calculated by multiplying the total number of credit card transactions by 75%. (For example: 9 x.75 = $6.75) STEP 46
The 4% Fee on Approved Charges is the fee that the corporate office pays, as a merchant, for processing credit card transactions. It is calculated by multiplying the total of all credit card payments by 4%. (For example: $395.96 x.04 = $15.84) STEP 47
The Subtotal is the sum of all combined fees and approved charges. This is the total amount that you pay to the corporate office. STEP 48
The Subtotal under the Managing Director’s Reimbursement is the amount of gross revenue earned on the event less all corporate and processing fees. It is calculated by taking the subtotal of the event payments received and subtracting the subtotal of all corporate and processing fees. (For example: $395.96 – $101.78 = $294.18) STEP 49
Below the Sub-Total is the Less Event Funds Retained and Less Foundation Funds Retained. These are both the physical checks and cash received for your event and for your Foundation donations. These amounts are deducted from your reimbursement. STEP 50 The Total Due To Managing Director is the amount that will be remitted to you via check or direct deposit.
The first example shows the Sub-Total less your MD Venue Expenses. The result is the actual profit or loss for this event, which allows you to understand and control your event expenses. (For example: $294.18 – 56.38 = $237.80) The second section shows the cost per head breakdown on the event. The first is the % of Reimbursement on Expenses. This is venue expense divided by the MD reimbursement total. (For example: $56.38/294.18 = 19.17%) This shows you the actual percentage of revenue spent on your venue. The next is the cost per head. This is simply the venue expense divided by the number of attendees. (For example: $56.38/10 = $5.64 pp) This allows you to control the cost per head on your venues. STEP 51 The Event Profit Breakdown is a breakdown of your profit margin in both dollars and a cost per head basis.
TIPS Negotiate with your venue(s): Your venue expense will determine your profit margin. Limit the number of free attendees. You pay a meal cost for those who do not pay, which cuts your profit margin. Do NOT wait to process registrations or Foundation donations. Send your reconciliations within 48 hours of your event. The sooner you get them in, the sooner you get paid. Plus, you will avoid the late fees! Reduce number of refunds: Refunds are credit transactions. These transactions cost you $.75 for the original transaction and another $.75 for the credit. Do not accept e-checks; only cash, credit cards and paper checks are acceptable.
Call if you need help! The eWomenNetwork corporate office is here to assist you in anyway that we can. We are a resource for you to utilize. We want you to succeed!