Balance View
When you review all of your members balances, you want to quickly identify who owes you money and who has money on the account to cover the next delivery. You may select one of the following balance view types to help you track your members' balances:
We recommend selecting the balance view type that is compatible with your payment plans. Read on to learn more about each of these balance types.
- Balance on Account - required for ongoing payment plans
- Balance Due - recommended for seasonal payment plans
We recommend selecting the balance view type that is compatible with your payment plans. Read on to learn more about each of these balance types.
Balance on Account
The balance shows you how much credit a member has on account with your program in order to cover the value of future deliveries. This balance view is better suited for ongoing programs that use the following payment plans: Prepaid Credit, Prepaid Per Distribution, Prepaid Per Subscription, and Pay-as-you-go.
The formula below shows you how a member's balance is calculated by the system:
The formula below shows you how a member's balance is calculated by the system:
|
CREDIT
(amounts paid by the member) |
-
|
DEBIT
(value of a delivery) |
=
|
BALANCE
(remaining credit on account to cover future deliveries) |
Balance Due
This balance view shows the current amount owed for a finite season. It is better suited for seasonal programs that use the following payment plans: Full Payment, Monthly Payments, and Installments.
|
Total Committed Payments
for the Season (includes received and future pending payments) |
-
|
Total Subscription Value
for the Season & Fees (All deliveries the member committed to receive for the season) |
=
|
BALANCE:
Current Amount Owed for the Season |
What does the balance mean?
- Zero Balance – No money is owed. Total payments and pending payments (committed payments that will take place in the future) equal the value of all deliveries scheduled for the season.
- Negative Balance – The member owes your program money. This may be because the member: has not made all their payments; or a payment that was scheduled did not occur (e.g. failed credit card payment or past due check); or you added another week of deliveries which increased the total price of the share for the season for current subscribers.
- Positive Balance – Your program may owe the member money. For example, if a member indicates that they will skip a delivery, their account may show a credit for the value of that week’s delivery. *If you do NOT want members to receive a credit to their account if they miss a delivery, please email[email protected] and ask us to disable the automatic account refunds for your system.
