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FINANCIAL MANAGEMENT. AUTOMATING FINANCE 24 AUGUST 2012 10:30 PRESENTED BY: Scott Watson Wing Financial Analyst swatson@capnhq.gov. Intuit PaymentNetwork. Intuit PaymentNetwork Accounts are set up by a Wing Financial Analyst https://ipn.intuit.com/
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FINANCIAL MANAGEMENT AUTOMATING FINANCE 24 AUGUST 2012 10:30 PRESENTED BY: Scott Watson Wing Financial Analyst swatson@capnhq.gov
Intuit PaymentNetwork • Intuit PaymentNetwork • Accounts are set up by a Wing Financial Analyst • https://ipn.intuit.com/ • Created as an inexpensive way for small businesses to receive payments electronically • Provides payment links on QuickBooks Invoices
Intuit PaymentNetwork • Receiving Payments • Bank to Bank Transfers • $0.50 per transaction to receive payments • Credit Cards • 3.25% of the transaction amount • E-commerce Buttons • Custom Web Payment Links
Intuit PaymentNetwork Bank Transfers to Wing • Initial limits on bank transfers received • $500.00 Daily Limit • $1000.00 Monthly Limit • Limits may be increased as needed • Next step: $2,500 Daily Limit • Next step: $5,000 Monthly Limit
Intuit PaymentNetwork • Intuit PaymentNetwork Process • Wing creates and emails an invoice • Once received, members click a payment link on the emailed invoice
Intuit PaymentNetwork Automatically records payments in QuickBooks • Invoice recipients will then: • Confirm or re-enter amount • Enter email address • Address used for payment confirmation only • Enter personal banking information • Bank payments less than $5,000 are usually funded in 1-2 business days. Larger payments are usually funded within 3-5 business days
Intuit PaymentNetwork • A member may choose: • To set up their own personal account with Intuit • Allows for fast payment of subsequent invoices • No personal financial data is kept by CAP • Bank Industry Data Encryption • Same company used for tax filings • 240,000 merchants use Intuit’s credit card processing services • Processes over 116 million transactions per year • Make a one-time payment
Intuit PaymentNetwork • Accepting Credit Cards: • Must be turned on through the PaymentNetwork • Creates a “Payment Method” option • Credit Card • Bank Account
Intuit PaymentNetwork Transaction fees are 3.25% of the transaction amount Funds are usually remitted to your bank within 3-5 business days
Intuit PaymentNetwork • E-commerce Buttons • Create multiple buttons • Single button / Multiple amounts • On the Intuit PaymentNetwork • Choose a color and tagline • The PaymentNetwork generates the HTML code that you copy to your website • Customizable • Use your wing logo and create your own tagline
Intuit PaymentNetwork • Custom Pay Link • Wing website • Wing Facebook page • Email Message • WingConference2012 • https://ipn.intuit.com/pay/XXWingConference2012 • Customizable • Use your wing logo and create your own tagline
Intuit PaymentNetwork • Create Quick Response Codes (QR Codes) to enable payment from mobile devices
Intuit PaymentNetwork • Buttons and Links • Requires: • Amount • Email address • Banking Information • Personal account • One-time payment
Intuit PaymentNetwork • Optional: • Bank Account Holder Information: • Personal Comment
Intuit PaymentNetwork • Requesting Payment from the Network website • Sent through email • Create contacts in your PaymentNetwork Address Book • Deposit into any account • Enter amount • Customizable Subject or Message • Set as recurring
Intuit PaymentNetwork Weekly Monthly Every two weeks Discount for using the PaymentNetwork
Intuit PaymentNetwork • Multiple Checking Accounts • Invoices Originated from QuickBooks • E-commerce Buttons • Pay Links • Funds are deposited into the account established as the “Primary” account at the time the paymentis made • Payment Requests from the PaymentNetwork • Funds are deposited into the account established as the “Primary” account at the time the request is made
Intuit PaymentNetwork • History and Status • View Recent/All Activity • View Payments • View Requests • Track Status
Intuit PaymentNetwork • Download Payments - “Payments” Only
. • SmartVault • Provides online secure storage for financial documents that are accessible remotely through a website • PowerPoint available on Capmembers.com website • Ipad App • Browse, Search, View and Upload Documents
. • Secure web-based solution to sign and store documents • Iphone App • Allow on-the-go approval
Wing Pilot Finance Report A Mission B Mission C Missions Wings Regions Hours Fuel Run reports for one day or up to one year • Location • WMIRS • Reports Section > “Wing Pilot Finance Report”
Wing Pilot Finance Report Bill Members for proficiency fuel charges placed on Wing AVcards
Wing Pilot Finance Report Rates increased by $2.00 • Convert to .csv (Excel) • Change rates • Add formula: “Sortie Hrs Flown” * “AC Rate” • Calculate new totals
Wing Pilot Finance Report & QuickBooks • Run your “Wing Pilot Finance Report” • Hours • Fuel • Convert reports to Excel to change rates if need • Bill for member flying time and fuel • Weekly or bi-weekly • Reconcile monthly • Unpaid bills are recorded in Accounts Receivable
AUTOMATING FINANCE Questions? Scott Watson Wing Financial Analyst swatson@capnhq.gov