Improve Your Team's Cash Flow with Meet Declarations

Improve Your Team's Cash Flow with Meet Declarations

Every swim team knows that collecting account balances can be a huge challenge. Delinquent payments and large outstanding balances drastically affect your team's cash flow throughout the season and as a volunteer treasurer, it's not easy to chase down families for money.  Knowing this, TeamUnify has developed tools to help you reduce the burden of collecting and chasing down these moving targets by restricting meet and event declarations. Here are two ways to keep account balances from growing, while giving your families a secure payment option to pay their swim team fees.

Restrict Declarations

To Current or Nearly Current Account Balances

This allows you to restrict event or meet declaration to only accounts with either a zero balance or a balance that is no older than 30, 60, 90, or 91+ days. To do this:

  • Once Signed-In, go to your Meet/Event Page
  • Click [Edit] to the right of desired event or click New Event

Events-screen

  • In Step 5: Financial Requirements: apply your desired financial restrictions.
    • Restrict declaration to accounts with $0.00 outstanding balance — Allows only those accounts with a $0 account balance to declare.

    Screen_Shot_2015-05-27_at_4.42.14_PM

    • Restrict declaration to accounts with balance that is no older than — Place a check mark to open up the 30/60/90/91+ day options. To view who these accounts are you can go to Billing Admin > Invoices & Payments, then click Aging Report [SuperUser only].

    Restrict Declarations to 30 Days

NOTE: If you select one of the top two options and want to select the other you MUST deselect the current selection FIRST in order to select the other option.

To Accounts with a Credit Card or ACH Account on File

Capturing payment information for Accounts is an essential way for teams to ensure timely payments. With a Credit Card or ACH Account on file outstanding debt can easily be captured. Restricting declarations to only accounts with electronic payment options allows you to not only keep your account outstanding balances from growing, but also prompts users without a Payment Type on file to enter their payment information while declaring for your next team swim meet.

  • Once Signed-In, Go to your Meet/Event Page
  • Click [Edit] to the right of desired event or click New Event

Events-screen

  • In Step 5: Financial Requirements: apply your desired financial restrictions. 
    • Restrict Declaration to accounts with Credit Card on file - Only accounts with a credit card on file can commit to attend the meet (you can check both CC and ACH)
    • Restrict Declaration to accounts with ACH on file - Only accounts with ACH on file can commit to attend the meet (you can check both CC and ACH)

Screen_Shot_2015-05-27_at_4.42.40_PM

 

Make sure to click Save Changes to apply!

 

We have seen this feature work wonders for teams to significantly reduce and/or eliminate outstanding accounts receivables while improving cash flow as more families input their electronic form of payment. Trust us, if a family goes to declare for a meet and cannot because they have an outstanding balance, you will see their account brought current quickly!

TeamUnify’s recommended settings for the Financial Restrictions feature is to set the outstanding balance that is no older than 30 days and restrict to credit card on file.

dual_restrictions

If you are interested in taking advantage of the TUPayment system please click the button below or contact info@teamunify.com to turn on your Payment Gateway and begin capturing payments online.

TUPayments

Leave a Comment