This help guide sets out the steps you need to follow to view the financial summaries for your accounting period to-date and take snap-shot information for an activity period within your accounting period.
It also provides information regarding how the figures displayed in the financial summaries are calculated.
You can view the following summaries:
- Forecasted income for accounting period
- Paid amounts
- Pending amounts
- Outstanding amounts
- Amounts paid in activity period
Figures and text that are underlined or that are in blue are hyperlinked to the underlying ‘Detailed Payment Reports’ (i.e. payment reports at the individual contact level).
Step 1: Login to your account and hover over ‘Financials’ at the top of the page. Then, select ‘Payment Reports’.
The window that opens will provide you with the following summaries:
Section 1 – Activity Period
In this section, the system calculates the summary totals based on the payments requested within an activity period that you define. To set the activity period, enter the ‘from’ and ‘to’ dates in the relevant fields and click ‘Search’.
Please note - the activity dates selected need to fall within the dates of your ‘Accounting period’. Please update your ‘Accounting period’ dates first if necessary (See below).
The summary figures cover the following:
- Total paid (cleared funds) for activity period: This figure is made up of payments received for all payments requested within the activity date range set, that have been paid out.
- Payments initiated (but funds yet to clear) for activity period: This totals the payments requested that are still processing
Section 2 – Accounting period
The calculations in this section are based on payments requested within the accounting period that is set under 'Settings > Account’.
The following summaries are displayed in this section:
- Forecasted income for accounting period (not hyperlinked)
- Total paid for accounting period to-date
- Outstanding for accounting period to-date
- Failed transactions
Payment Summary Table: Displays the summaries for each payment requested within the accounting period. The payment status of payments requested is summarised in separate columns as follows:
- Forecasted income
- Paid to-date
- Paid in activity period
Through the Payment Summary table, you can access detailed payment reports:
- Across all payment requests issued – by clicking on any of the figures in red, amber, or green for the totals displayed in the ‘activity period’ section or in the ‘accounting period’ section respectively.
- By individual payment requests - by clicking on the figures shown in blue in the Payment Summary Table columns. These figures are hyperlinked to the underlying Detailed Payment Reports (i.e. payment reports at the contact level).
- By ticking the check boxes alongside the payment request descriptions in the table and selecting which type of report you want to see, the options for which, are shown by hovering over 'View reports' in the tool bar.
Explanations of terminology:
Forecasted income for accounting period
The forecasted income for the accounting period is calculated as follows: Total amount paid + Total amount pending (applicable for Direct Debit payments) + Total amount outstanding (i.e. requested but not yet paid) + Upcoming payment requests to be issued within the accounting period (i.e. scheduled payment requests like renewals and instalments).
Figures for paid amounts are the amounts that have been paid out, to your account. If you are accepting payment by Direct Debit, only when the funds clear will the amount be included in the ‘paid’ amount.
Please be aware that until the funds have been paid out to your account, the payments will show as ‘Pending’, even if the payment has been debited from the payee’s account. Payment requests issued to contacts who have pre-authorised payments set up on their account will automatically go straight to ‘pending’ as their payments will initiate as soon as the payment request is due. They will not see any payment requests in their baskets ‘To Pay’. The payment request will show in their online account under the ‘Paid’ tab with a ‘pending’ status.
This figure is calculated from the total of all outstanding payment requests for the accounting period but not paid.
Amounts paid in activity period
This figure is made up of all payments received within the activity date range set.
This figure is the count of payments that have failed. Clicking on the hyperlinked number will give you the list of each payment.
The failed payment will be shown as a red 0.00 in the ‘Paid’ column. Clicking on the 0.00 will display a pop-up with the detail of the failed payment.
The failed payment will also show in the payment table on your contact’s payment history, which is at the bottom of their record. Clicking on 'Details' alongside the failed payment will display the reason for the failure.
Any failed payments that are ‘Acknowledged’ will be removed from the count of failed payments.
Payment collection can fail for a variety reasons, including: insufficient funds, pre-approval expired, not linking the correct funding source to a PayPal account, expired debit/credit card etc.
When a payment fails, an email alert is sent to the contact giving them instructions of what they need to do. Administrators with full access rights are cc’d into this alert.
The reasons for failure are passed straight through from our payment partners, PayPal and GoCardless and can sometimes be a little cryptic!
Other options in the Payment Summary Report include:
There are several different reports (with self-explanatory descriptions) that can be accessed via this option. Most of which require you to first select at least one payment request using the check boxes in the payment report summary table.
Of note is the ‘Transaction Report’. This details all online payments received so you can cross reference the data shown in LoveAdmin with your GoCardless and / or PayPal account. It also helps you keep track of the costs of online transactions, helpful for accounting purposes.
This option will export the information in the Payment Summary Report click here for more information on exporting financial reports.
This option will print the information in the Payment Summary Report.
- Archive payment request(s) - This option allows you to select and archive payment requests.
- View archived payment requests - This option allows you to see which payment requests have been archived.
- Restore archived payment requests - This option allows you to restore any archived payment requests.
Once you have followed the above steps you will have successfully viewed how much money has been paid to your organisation.