Your finance and accounting team will love our new Finance Report that provides a comprehensive view into all things revenue and collections. Historically, you would need to perform time intensive ad hoc reporting to consolidate total revenue, define the granular subcategories of revenue, and reconcile all transactions at the end of the month.
The new Finance Report reports on all charges, and the composition of each charge, using accrual basis accounting where revenue is recognized when it is earned. It will also helps you understand the state of payments—both received and expected—including revenue currently in Chargify’s dunning process. The report is broken down into four main section:
- Total Revenue: Your total revenue for any given month is the byproduct of all sales minus discounts minus credits/voids. In the report, we decompose all of these elements for a crystal clear view into recurring plans, one-time charges, add-ons, metered usage, single-use coupons, recurring coupons, prorations, balance adjustments, and much more.
- Total Billed: If you collect taxes, we breakout Total Billed which is the sum of Total Revenue plus applicable taxes.
- Payments (Collected, Expected, or Uncollected): Understand all payments made by payment type (automated, check/invoice, and amortized prepayments) vs. expected payments (in dunning or unpaid invoices) vs. uncollected (revenue not captured in dunning or through unpaid invoices).
- Net Revenue: Your total revenue from above minus any refunds towards previously received payments.
Whether you are a member of the finance and accounting team closing the books or the executive responsible for growing your business, this report provides valuable insights into the health of your business.
Finance Report Breakdown
Total Revenue Billed
Sales: Revenue from all sales before discounts and credits/voids. Since this report follows accrual basis accounting, the sales are listed in the month in which payment became due and not necessarily when the payment was received.
- Recurring Plans: Revenue from recurring subscriptions of any frequency, excluding components which are listed separately.
- One-Time: One-time charges that are not factored into recurring plans.
- Add-Ons: Revenue from on/off and quantity-based components.
- Usage: Revenue from metered usage components.
- Setup Fees: Revenue from new setup fees that are not recurring.
- Trial Fees: Fees associated with a trial.
- Total Sales: The sum of all sales for any given month.
Discounts: Discounts applied to sales according to Chargify’s coupon code logic.
- Single-Use Coupons: Discounts from coupons that are only applied once.
- Multi-Use Coupons: Discounts from coupons that are applied to several billings but eventually fall off automatically.
- Recurring Coupons: Discounts from coupons that are applied at every billing until they are manually removed.
- Total Discounts: The sum of all discounts applied for any given month.
Credits/Voids: Reductions to revenue from service credits, balance adjustments, and voids.
- Proration: Reductions to revenue from prorated charges. Note: Sales may potentially include the full recurring charge twice in a period because prorated amounts/reductions are shown here.
- Balance Adjustments: Reductions to revenue from balance adjustments such as service credits, balance resets, or voids.
- Total Credits/Voids: The sum of all credits/voids for any given month.
Total Revenue: The sum of all sales after discounts and credits/voids have been deducted.
Total Billed: If you collect taxes, this will include the amount of taxes collected as a line item, and Total Billed will be Total Revenue plus Taxes. If you do not collect taxes, you will only see Revenue/Total Billed since Total Revenue will be the same as Total Billed.
Payments (Collected, Expected, or Uncollected)
Payments: The amounts you have received against the Total Billed which includes actual payments from credit cards, checks, and ACH as well as deferred payments from Prepayments.
- Automated Payments: Payments received from automatic billing by Chargify, which is usually either from credit cards or ACH.
- Check/Invoice Payments: Payments recorded manually in Chargify, such as check payments for invoices.
- Amortized Prepayments: The amount applied to this period’s billings from Prepayments (i.e. a large up front check payment that is amortized and split among each billing period).
- Total Collected: The sum of all payments received for any given month.
Expected Payments: Payments not yet received but are still expected to arrive.
- In Dunning: The amount under active dunning managed by Chargify. This revenue moves to Uncollected if dunning ends without successfully capturing payment.
- Unpaid Invoices: The amount due from open invoices where manual payment is required.
- Total Expected: The sum of all payments expected for any given month.
Uncollected: The amount that you billed but did not receive. This only includes revenue that you are no longer attempting to collect via dunning or an open invoice. If you reset the balance due on a subscription that is included here, that balance will move from here to Credits and decrease Revenue.
Total Revenue: This is the total revenue from the Sales section above that includes the sum of all sales after discounts and credits/voids have been deducted. Total Revenue excludes taxes if taxes are collected.
Refunds: The amount refunded for previously received payments in either this period or previous periods.
Net Revenue: Total Revenue minus Refunds
You can export the data from your Finance Report by clicking on the ‘Export’ dropdown and selecting the desired month:
The exports follow a format that is slightly different than what is shown in the web-based Finance Report. It contains all of the web-based data, plus much more granularity, allowing you to answer almost any revenue related question imaginable by filtering and sorting. For more help on understanding the CSV exports, visit the Finance Report – CSV Exports documentation.
Finance Report Availability
To access, visit the Analytics tab of your Chargify Site and click on ‘Finance’ in the sub menu. A one-time data calculation is needed to import and compile your finance metrics.
Simply click the ‘Crunch My Nums Now!’ button to start the import. Import times will vary from minutes to hours depending upon how much data is in your Chargify Site.
For more information about Chargify’s Finance Report, check out our documentation.
The Finance Report has already proven to be an extremely valuable resource for 1. decision makers that need to better under revenue and collections and 2. finance and accounting departments that have reconcile and close the books on a monthly basis. We wanted to get this new report in the hands of Chargify customers asap but have many planned improvements such as:
- A toggle for accrual vs cash-basis reporting methods
- Clickable cells that will zoom in on the full composition of any given cell. For example, the ability to view all coupon codes used, and related subscriptions, for any month.
Do you have any feedback or additional feature request? Let us know in the comments below.