Outstanding Series report (Outstanding Pricing Options report)

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SUMMARY

The Outstanding Pricing Options report lists all pre-sold pricing options, packages, and memberships, and the unearned revenue for each one. 


CONTENTS

 

Report's location

  1. Hit the Reports tab and choose Sales from the tabs on the left.
  2. To narrow the list, select Sale Analysis from the filters.
  3. Click Outstanding Series to open the report.

Note: You can always use the search bar at the top right to search for Outstanding Series by name. If it’s a report you use often, then consider making it one of your favorites

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Report's filters

  • Purchased between__ and __: Choose a date range to list only outstanding revenue for services purchased between the specified dates. Note: Leave the start date blank to include all purchases to date.
  • As of: Gives a snapshot in time of all limited pricing options' deferred revenue.
    • If you're only taxed for revenue earned from services rendered, you can set this new filter to a date at the end of your tax season. Then you would set the report's purchase date filters to encompass the entire fiscal year. If any of your deferred visits from last year need to be claimed in this year's taxes, you would run the report so that the "purchased between..." start and end dates cover last year, and set the "as of" to what the date was at the end of your current fiscal year.
    • A major benefit is that you can track your deferred revenue over time. If you run the report for the first of the year, and then again for the current day, you can see if you have more or less deferred revenue this year.
      • Note: Due to a work item in progress, pricing options will be listed as unlimited passes regardless if they are or not (i.e., 5 class card would be listed as an unlimited pricing option). A feature request has been made; in the meantime, please make sure you double-check how your pricing options are listed and make corrections as needed for for tax purposes.   
  • Location: You can filter by multiple business locations, or just list sales from your online store.
  • Pricing options: Choose from All Pricing Options & Memberships, Limited visit pricing options only, Unlimited visit pricing options only, or choose a specific pricing option.
  • Only Integrated Payment Methods: Check this to list only services purchased using MINDBODY integrated credit card processing.
  • Sort by: Choose from payment date, expiration date, client name, or deferred amount.
  • Tagged Clients Only: If you tagged a list of clients in the system, checking this option shows only sales for those clients who are on the tagged list. Learn more about tagging.
  • Click on one of the Quick Dates to choose from Calendar Months, To-Date, or Rolling Averages.
  • Generate: This will generate the report based on the filters that you set.
  • Additional options: After the report has been generated with the information required, additional options are available next to the "Generate" button to help you keep records of the information or save the information and continue to use the data in other reports by means of "tagging."
    • Export to Excel: This will generate a spreadsheet containing the report's data in Microsoft Excel. To learn about exporting reports to Excel, click here.
    • Tag Add: Adds the list of clients displayed to the list of clients you have tagged in the past. Click here to learn about tagging clients.
    • Tag New: This deletes the old list of tagged clients (it doesn't actually delete the clients, just the list), then it adds everyone displayed to a new list of tagged clients. It's the closest thing we have to starting with a new list of tagged clients. Click here to learn about tagging clients.
    • Save This Report: Click here to learn about using the Save This Report feature.
    • Print This Report: This will open your computer's print menu so that you can print the report.

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Understanding your results

When you generate the Outstanding Series report, you will notice the report is divided into two sections. This is because unearned revenue is calculated differently for each type.

Outstanding Limited Visit Pricing Option: Unearned revenue for limited pricing options is based only on the number of visits that remain.

  • For example, if you sell a 10-class card for $100, the unearned revenue is $100 as long as the card remains unused. As soon as the card is used, your unearned revenue decreases. If 4 visits remain on the 10-class card, the unearned revenue is $40 ($100/10 classes = $10 per class. Multiply $10 x 4 unused visits = $40 in unearned revenue).

Outstanding Unlimited Visit Pricing Option: Outstanding liability for unlimited visit pricing options is based on how many days remain before their expiration, so the value may change dramatically.

  • For example, the outstanding revenue for an Unlimited Monthly Membership pricing option with a duration of 30 days purchased at $100 will be $100 on the first day it is purchased. But, when 20 days remain before expiration, the unearned revenue drops to $66.77 because you earn $3.33 for every day the membership is current. At the end of 30 days, you fulfill your obligation and earn the full $100.

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Common misunderstandings and mistakes with outstanding pricing options and unearned revenue

  1. The pricing option was set up as the wrong type.
    • Sometimes a pricing option for a service, such as 10-class card, is set up as an unlimited pricing option instead of a limited pricing option, so the unearned revenue seems like a random value, because unearned revenue is being calculated based on the duration and not the count.
      If you notice purchases that should be under the limited pricing option heading that are showing up under the unlimited pricing option heading  (or vice versa) in your Outstanding Series Report, do the following:
      • Go to the Home tab and select Manager Tools from the submenu.
      • Click on Pricing Options under Pricing.
      • Locate the item that is appearing under the wrong type in the Outstanding Series report.
      • Change the type and select the checkbox next to Update Type for Past Sales.
      • Click Save at the bottom of the screen.
      • Rerun the report, and you will see the unearned revenue is corrected.
  2. The Visits Remaining report is used in addition to, or separate from, the Outstanding Series Report to calculate unearned revenue.
    • The Visits Remaining report and the Outstanding Series report appear to be very similar, but there is one important difference.
    • The Visits Remaining report counts visits for unlimited pricing options and limited pricing options, whereas the Outstanding Series report gives you the visits remaining for limited pricing options only. The intention of the Outstanding Series Report is to calculate the total amount of unearned revenue. The main intention of the Visits Remaining report is to see how many visits are left for all purchases, including unlimited and limited pricing options; because of this, it cannot accurately represent liability for unearned revenue.
    • Imagine if you calculated unearned revenue based on the number of remaining visits for a time pricing option, such as an unlimited monthly membership. The pricing option could possibly have been sold for $100 with 1000 visits over a 30-day period. Your earned revenue per day would be so low (only  $0.01 per day in this example) that you would never earn 100% of the purchase price. The intention of the purchase is to allow as many visits as the client wants within 30 days. It is not expected that they would actually use 1000 visits. This large number simply ensures that the client's membership does not run out of visits during the 30-day duration.

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Permissions that control access to this report

To view and run this report, the following permission must be enabled for you or your staff's login group:

  • Analysis Reports

To grant or restrict access to this report, just hit the Home tab and select Staff from the submenu. Choose Tools at the top right, and click on Staff Permissions.

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  1. Select a permission group from the drop-down menu.
  2. Click on Report Permissions.
  3. Check or uncheck the box for the Analysis Reports permission.
  4. Click Update.

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ADDITIONAL RESOURCES

 










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