EMS LIVE! CONFERENCE Using the Pricing and Billing Functions Within your Operation Melissa Butler Implementation Consultant October 16, 2017
Pricing and Billing Topics Terminology EMS Billing-Cycle Process Billing Reports Other Billing Functions 2
BILLING CYCLE TERMINOLOGY
Terminology Pricing Plan Drives pricing for rooms, resources, and applies calculations to a Group or Reservation Calculations A percentage charged in addition to a room or resource. Calculations are applied at the time of confirmation or invoice creation. Applied to a group, or a pricing plan, or both Examples: Service Fee, Sales Tax 4
Terminology Transactions Deposit: Money posted to an event prior to an Invoice being run is deducted from balance due. Can be posted toward a booking or reservation. Pre-payment: Functions the same as a Booking Deposit; is deducted from balance due. If you have a deposit and a pre-payment, they are listed separately. Damage Deposit: Money collected from a client, but not applied to the balance due. Typically refunded. 5
Terminology Transactions Invoice: Details the charges accumulated for a given event. Can be run for a single booking, multiple bookings, or a reservation. Locks the details of the event from being changed. Payment: Money posted after an invoice is run pays down the balance of an invoice Adjustment: Modification to the amount due on an existing invoice Refund: A credit issues to a customer post-transaction. 6
THE BILLING CYCLE
Steps of the Billing Cycle Reservation is created; pricing plan is applied Pricing is validated, discounted, or overridden Deposit or pre-payment is applied, if applicable Event occurs Charges are updated, if applicable Invoice is previewed; invoice is created Payment is applied, if applicable 8
THE BILLING CYCLE IN EMS DEMO
THE BILLING CYCLE IN EMS DETAIL STEPS
Billing Process Steps 1. Create a reservation with resources, services and/or room charge 2. Pricing is validated, discounted or overridden 3. Apply a Deposit or Pre-Payment to the Reservation i. Transaction Tab Payments ii. Shows on the confirmation, subtracted from the amount due 4. Event Takes Place 11
Billing Process Steps 5. Preview event charge using Billing Worksheet i. Billing Invoices Billing Worksheet 6. Identify correction and modify room and resource/services pricing if needed 12
Billing Process Steps 6. Generate and preview Invoice i. Transaction Tab on Reservation or Billing Invoicing ii. Use tabs to filter invoice criteria iii. Select invoice iv. If charges are not correct, close the invoicing window and modify charges on the reservations as needed. v. If invoice in correct, go to next step 13
Billing Process Steps 7. Finalize Invoice i. After completing step 5, highlight invoice and choose Final ii. This creates an invoice number and LOCKS the services from being edited. This also moves a deposit from unapplied to applied status 14
Billing Process Steps 8. Post payments as received i. Transactions tab or Billing Payments ii. iii. Highlight invoice New Payment Choose Payment Type Payment will not be reflected on the invoice or confirmation. To show a customer the balance run a transaction report from the print menu in the upper right-hand corner of the reservation navigator 9. After finalizing an invoice, adjustments are applied to invoices to issue credits or debits (Cleaning Fee, Customer Service Discount) i. Note: EMS does not calculate balance due by group, only reservation 15
Two Types of Billing Cycles Per-Event Invoicing Batch Invoicing Customers that rarely Customers that have charge for events, frequent charges and run typically invoice per event invoices on a timed basis bases as they occur (Weekly, biweekly, monthly, etc.) 16
Voiding Transactions Why Void? Invoice must be voided in order to make changes to resources that have already been invoiced. A new invoice must be issued if the invoice total is to change. Tip: If issuing a credit because of a complaint, another option is to add a resource with a (-) quantity and issues a new invoice Voids must be done in the following order: Payment that have been applied to an invoice Invoice for an event Voices are done from the Transaction Tab in Navigator or from Billing Other Void Invoices Voided Transaction Report tracks voids and void reasons 17
BILLING REPORTS
Billing Reports Ageing Report Lists all outstanding invoices and days invoices are outstanding Statements Lists the outstanding balances on invoices per Group Transaction Report Lists all transactions for a given date range Invoice Detail Report Provides detailed invoices in report format for a given date range General Ledger Distribution Shows the breakdown of invoices into accounts 19
Other Billing Functions Billing Other Reprinting Invoices Print by Invoice Number or Transaction Date Can also be reprinted from the Navigator Transaction Tab Voiding Invoices Voided by Invoice Number or Transaction Date Can also be voided from Navigator Transactions Tab or Payment Entry folder Browse Transactions Browse by date or by filter Tip: Filter on invoice and select multiple invoices to reprint or email at once 20
TIPS Pre-Payment and Deposit behave the same way by applying a Pre-Payment allows you to present a paid in full notice to the customer before invoicing. Invoiced items are locked. New items, however, can be added Refunds behave just like Adjustments. Similar to Pre- Payment, it is just a labeling variation for reporting purposes You an create a positive Adjustment on one reservation to zero out a credit owed and add it as a negative Adjustment to another reservation to apply the credit. 21
Questions?