As the year comes to a close, we'd like to help you prepare for the new year with this year-end reporting guide.
Reporting in Jackrabbit is key to providing information for the following:
- Check revenue and enrollment for the year to determine your business' financial health.
- Provide tax information for families to submit for childcare or educational tax deductions.
- Prepare for your business tax preparation.
Don't forget to check out our blog! Annual Reporting Guide.
Things to Consider
The answers to these questions will help you create a plan, which will help determine your next steps.
Do you need to generate end-of-year enrollment reporting? Run enrollment reports to determine the number of students actively taking classes during the year and make income projections for the new year.
Should you adjust class offerings so you can fill more spots and add in-demand classes? Enrollment reports are key indicators of classes that are successful and generate maximum revenue.
Are you thinking of making adjustments to your tuition fees to cover business expenses? Revenue reports help you determine if you have met your fiscal goals for the year.
Do you just need some Tax Prep guidance? Check out our live webinar, Tax Prep with Sean Dever, scheduled for the week of November 15, 2021.
Cash or accrual accounting? Who knows? Jackrabbit uses cash accounting revenue reporting. If you use accrual accounting, you will have to make some adjustments. Learn more about Accounting and Jackrabbit.
Things to Do
After you have answered the questions above, it's time to use Jackrabbit reporting to take action!
Expand each section below for additional information on year-end planning and reporting.
Run reports on a regular basis and take action with the results. Also, don't forget to archive classes as needed.
Revenue Checks & Balances
Make this a regular routine to verify your revenue reports are accurate. Learn more about Maintaining Accurate Revenue Reports.
|Email Families with Balances|
Run the Aged Account Details report and email families with balances so you can receive payment before the end of the year.
When Classes have ended and all tuition has been posted, we recommend archiving classes. Classes may be archived individually or if you use Sessions, Jackrabbit makes it easy to Transition to a New Session of Classes!
For businesses using an accrual method of accounting, refer to Convert Cash Accounting Records to Accrual at Period End.
Run & Review Revenue Reporting
These revenue reports will provide you with a clear picture of the fees posted, what was paid by Category, and people who may owe you money.
|Fee Summary Report|
Displays fees posted during a specific date range, along with any payments made against them or credits applied regardless of the payment date, and their current unpaid amount. This report can be viewed as a summary or in detail.
|Paid Fees Report|
Displays revenue by Category 1 with a breakdown by Transaction Type for a specific date range. This report can be viewed as a summary or in detail.
|Revenue Summary Report|
Displays revenue organized by Category 1, 2, and 3. This helps you to identify which category buckets your revenue falls into. It's a great way to compare which categories are generating the most revenue!
|Aged Accounts Details Report|
Displays aged (overdue) unpaid fees, by family, using the filters (Search Criteria) you select. Fees age from their transaction date and display in the number of days owing.
|Deposit Slip Report|
Organizes revenue by Payment Method for a specific day or date range. Use the Payment Type and Payment Method to find non-monetary Credits.
Run & Review Enrollment Reporting
Use these enrollment reports to identify which classes are successful. Maybe some of your classes aren't too popular, the drop history for a class can be a key indicator something needs to be adjusted or changed.
Don't forget to take a look at your waitlists, maybe it's time to add additional classes.
|Enrollment Detail Report|
Identify areas of growth or decline in your program, the number of students actively taking classes as of a particular date or date range, and analyze retention by Instructor. This report can be viewed as a summary or in detail.
|Student Attendance Report|
Overview of attendance and enrollment in your classes. You will get the most benefit from this report if you use the Staff Portal for attendance.
|Drop History Report|
Displays students who have dropped, transferred, or completed classes.
|Search Waitlists Report|
Help determine the need to create additional classes, move students to another class, etc. Great for maximizing class size for efficiency and maximum revenue.
After you run your enrollment reports, you may want to consider moving inactive families to the Lead File who haven't been active for more than 18 months. This helps keep your data up-to-date and may lower your monthly fees with us since families moved to the Lead File do not count towards your monthly Jackrabbit subscription.
Click the graphic to open an
If you have questions about any information included in this Guide to Year-End Reporting, please contact us. Click on the in Jackrabbit to request assistance, or click here to book a call with one of our Support Specialists.
In addition, check out our Holiday Resource Center for some great suggestions for holiday planning.