Kangarootime offers a suite of powerful financial reports, including the Accounts Receivable Report, Account Summary Report, and Income Report, designed to help childcare centers and early learning facilities effectively manage their finances, optimize cash flow, and gain actionable insights into their financial health. If you are interested in other Kangarootime reporting needs, please refer to the Attendance Reporting Dashboard or Enrollment Reporting Dashboard guides.
Table of Contents:
Accounts Receivable Report
The Kangarootime Accounts Receivable Dashboard provides a comprehensive view of your center's outstanding invoices and receivables. It enables you to manage and monitor the financial health of your childcare business by tracking and analyzing your accounts receivable data. With this dashboard, you can stay on top of unpaid invoices, identify potential payment bottlenecks, and improve your cash flow management.
Key Features:
- Collection Performance: Monitor the effectiveness of your collection efforts. Evaluate metrics such as deb collection efficiency and debt concentration risks to assess the number of days it takes to collect payments for each month and the risk of deb across accounts.
- Accounts Receivable Summary: Get an overview of your outstanding invoices and total accounts receivable. Monitor the average age of your receivables to identify potential collection issues and take proactive measures to ensure timely payments.
- Receivables Aging: Visualize the distribution of your outstanding invoices by their aging periods, such as 1 - 6 days, 7 - 13 days, 14 - 20 days, and 21+ days. This feature helps you pinpoint overdue payments and prioritize follow-ups for effective collections.
Account Summary Report
The Kangarootime Account Activity Report serves as an extensive overview of the current and past financial statuses of family accounts during a specified period of time. For example, one could use this report to gain clarity into what has been charged to an account during a selected timeframe to audit their financials. This report allows users to pull financial information based on their business preferences with the accrual or cash basis filters.
Key Features:
- Accrual Basis Filter: This will demonstrate revenue as the service is rendered.
- Cash Basis Filter: This will recognize that revenue is based on the payment due date.
- Seamless use: Can access accounts directly from the report to seamlessly navigate to a more detailed transaction history.
Billing Reconciliation
The Kangarootime Billing Reconciliation report offers a detailed overview that compares and matches the billed amounts with actual transactions, payments, and outstanding balances. It ensures accuracy in financial records by identifying discrepancies between invoiced amounts and received payments, helping businesses track returns, overcharges, or missed payments. The report includes data from both the billing system and payment records and serves as an essential tool for financial teams to verify the integrity of their accounting processes and maintain transparency in financial operations.
Key Features:
- Undisbursed Payments: View paid payments that have yet to reach your business account to review any discrepancies between funds that have and have not yet been deposited.
- Filtering: Sort information by a custom time period, by a certain school, and look into specific family accounts.
- Account Detail: Access family accounts by clicking into their associated Bill ID #.
Income Report
The Kangarootime Income report provides a thorough overview of the financial performance of your childcare center or early learning facility. It offers valuable insights into your revenue streams, allowing you to make data-driven decisions and optimize your financial strategies. The dashboard consolidates and visualizes key revenue metrics and trends, empowering you to monitor and analyze your center's financial health effectively.
Revenue is calculated on each billed transaction's date of service. Transactions that have been reversed are eliminated from the calculation and discounts are applied on each individual service. Transaction dates will reflect Accounting Periods if you are utilizing this feature.
Key Features:
- Revenue Summary: Get an at-a-glance view of your total revenue, including income from tuition fees, additional services, grants, and subsidies. The dashboard breaks down the revenue sources, enabling you to assess the contribution of each category.
- Revenue by GL Code: Understand the revenue generated by each GL Code (program, age group, discounts, etc.) within your center. This feature enables you to identify high-performing financial drivers and explore opportunities for growth.
- Revenue Trends: Track your revenue over time with easy-to-read graphs and charts. Identify seasonal patterns, growth trends, and fluctuations in revenue, empowering you to plan and adjust your budget accordingly.
Please contact helpdesk@kangarootime.com if you have any questions.