Financial Reporting
Table of Contents
Cost Details
On the Financials page, scroll down to "Applied Costs" and select the cost you'd like to see by clicking on the name of that cost.
This will take you to its Cost Details page where it shows each student this cost has been applied to, along with the amount that has been allocated to this cost for each student.
If any students have had their individual cost amount manually adjusted, they will appear at the bottom of this list in the "Students with customized costs" section.
CutTime decides how payments are allocated by each cost's due date, so the cost with the oldest due date is payed first. You get to decide the order in which costs are payed!
Member Account Summary
At the bottom of the the Financials page, you can find a report of all students in your program along with their:
- Cost total
- Transfers out
- Transfers in
- Payment total
- Total due
Exporting Balance Due (Totals)
On the Members page, filter for the members you'd like to see on this report using the available filters on that page, or leave those filters as they are to export all active members. Click "Export results."
On that export, there is a column with the heading "Student balance." The data in that column shows how much that student owes, and any negative numbers would indicate an overpayment or credit in their account.
Check out our Financial Statements help doc to learn how financial statements are communicated in CutTime!
Payment Reports
On the Financials page, scroll down to Payments
Payment Allocations Report
- This report shows a record of payments and the costs to which they were applied.
- Select "Export Allocations" to view the transaction on an Excel file where you can custom sort the data.
- A "split" payment might occur if someone pays a larger amount than how much they owed for a particular cost. Here's an example for what that might look like:
If a single payment is allocated to multiple costs, you will see this payment split into multiple rows in the table, with each allocation getting its own row. For example:
Jimmy has two costs: Cost 1 ($100) and Cost 2 ($75).
Jimmy makes a single payment of $175. In this table, this will be displayed as:
|
Date
|
Split Payment?
|
Amount
|
Memo
|
Student
|
Payer
|
Payment Method
|
Cost Associated
|
|---|---|---|---|---|---|---|---|
| 10/15/2024 | Yes | $75.00 | Jimmy | Jimmy's Guardian | Credit Card (Charge) | Cost 2 | |
| 10/15/2024 | Yes | $100.00 | Jimmy | Jimmy's Guardian | Credit Card (Charge) | Cost 1 |
Payment History Report
- The purpose of this report is to show the details and history of payments themselves rather than how that payment was allocated.
Jimmy's payment from the above example would show as this:
| Date | Amount |
Memo
|
Applied to student | Payment Type |
Created by
|
|---|---|---|---|---|---|
| 10/15/2024 | $175 | Jimmy | Credit Card (Charge) | Jimmy's Guardian |
- In this report, the "Created by" column is populated by the name of person who payed online, or when that payment is manually logged, it is the name of the user who logged that payment.
Online Payment Reports
See Stripe Connect Overview for reports available from Stripe!