Carry Forward Family Balances
When entering families into a new TimeSavr account, you may be transferring from a different system or a paper based system, but your existing families already have a transaction history that includes invoices and payments, and in some cases a balance owing or account credit. To properly transfer this financial information into TimeSavr, follow these steps.
You will need to create both invoices and payments, but you do not have to create them for each month of the year, only the total amount invoices for the year and the total amount paid for the year. For example, you're starting to use TimeSavr in the month of June, and the Jones family has been with your centre for several years and you just want to enter in their records for the current year so that you can send them a tax receipt next January. Their transaction history for January to May looks like this:
Example
January | Invoice | $900.00 |
January | Payment | $900.00 |
February | Invoice | $900.00 |
February | Payment | $900.00 |
March | Invoice | $950.00 |
March | Payment | $950.00 |
April | Invoice | $950.00 |
April | Payment | $950.00 |
May | Invoice | $950.00 |
May | Payment | $950.00 |
Total Invoiced, January to May = $4650.00
Total Paid, January to May = $4650.00
Now in TimeSavr you only need to enter in the totals. One invoice for $4650.00 and one payment for $4650.00. Just make sure you enter into the comment something along the lines of "Invoice for January to May 2022" or "Payment covers all of January to May 2022", for clarity.
Creating Invoices
To enter in the invoice, assuming you'll be entering invoices for multiple families, go to Finance / Create Invoices. This page lists all your active children, according to the date selected at the top of the page, so the first thing you need to do is set the date at the top to January 1. This will be your invoice date. Technically, it doesn't have to be January 1 but it probably makes sense since you'll be entering in an invoice that covers the period starting on January 1.
When you select this date, the list will be automatically recalculated and it will pull in all the children who were active on that date. Any children whose first month of care was January will be highlighted in green, and if it was their last month of care they will be highlighted with a light orange color. These colors serve to bring your attention to the fact that you might want to pro-rate the fees for these children if they're only attending a partial month.
Change the comment just below the date to indicate the date range this invoice covers.
By default, this list will pull in each child's childcare fee, but you can override it, if necessary, as in this example. Type in the full amount for the period. Whenever you override the amount on this page, the Line Total will be displayed in red. This is normal, and does not indicate an error, but only means that the total is not the original total calculated by TimeSavr.
Click "Generate Now", at the top of the list, to generate your invoices.
Creating Payments
Now you'll have to do the same for payments, but this is done on a different page. Again, assuming you're entering payments for multiple families, you'll want to use the bulk payments page. Go to Finance / Receive Multiple Payments.
Similar to the invoicing page, you'll need to enter in the date at the top of the page. This is the date that the payments are "received". Now in this case, because we're entering in a single payment, that was actually technically multiple payments, you're going to have to choose a date that makes sense, understanding that it was actually multiple payments made on multiple different dates. Again, I suggest January 1st, to keep it simple, but it might also make sense to use the last day of the payment period, in this case May 31st.
Type in your comment, which will be applied to all payments on this page, and select a Default Payment Type. When selecting a Default Payment Type, all the payments in the list will be set to this type, but each one can be overridden individually. If not all the payments were the same type, then select a default payment type that covers the majority of your payments.
When entering in the payment amount, there's no need to enter in the decimal places if there are no pennies, and you can use the down arrow key on your keyboard to quickly go to the next family. Click Generate Now to save your payments.
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