Transactions Training Recap

Novi AMS Group Training: Transactions

This training provides an overview of Novi AMS transactions and how they integrate with QuickBooks Online. It covers dues renewals, payments, invoices, and dropping members.

Key Takeaways

• Novi AMS has a direct, one-to-one integration with QuickBooks Online to keep customer records and accounting transactions fully synchronized between the two systems
• Various transaction types like invoices, payments, sales receipts, and credit memos are created in Novi and automatically synced to QuickBooks Online in near real-time (about 3 seconds)
• Auto-renewal settings can be configured to automatically run a set number of days before a member's expiration date, generating renewal invoices in QuickBooks and extending the member's expiration date in Novi
• Members have the option to opt-in to auto-pay, allowing Novi to automatically charge their stored credit card or bank account for renewal payments
• For non-paying members, associations should establish an internal policy for a grace period after the dues invoice due date, after which members should be dropped by using Novi's non-renewal credit tool to offset any unpaid dues and reset the expiration date
• Map Novi AMS event tickets and dues to existing QuickBooks items (aka Products and Services).
• Use Undeposited Funds account for receiving payments.
  
  

Topics:

Novi AMS-QuickBooks Online Integration

• Novi AMS has real-time sync with QuickBooks Online for customer records and transactions like invoices, sales receipts, payments.
• QuickBooks Online is the system of record for accounting data.
• Novi AMS transactions involve customer records in QuickBooks Online only. 
• Article: The Novi AMS - QuickBooks Online Sync 

Transactions in Novi

• Novi AMS handles revenue transactions tied to customers like invoices, sales receipts, payments. The Transactions page in Novi provides a view into all accounting activity synced from QuickBooks.
• Novi AMS does not deal with expenses or vendors.
• View invoices, payments received, sales receipts (real-time payments), and credit memos in Accounting > Transactions page and on the Accounting tab in a record. 
• Batch actions to print, email, receive payment, non-renew/credit
• Novi recommends creating transactions in the system when possible vs. creating them directly in QuickBooks
• Article: The Novi Accounting Transactions Section

Mapping to QuickBooks Online

• Novi AMS event tickets and dues rules must be mapped to existing QuickBooks Online items.
• This allows for transparency in transactions vs mapping directly to GL accounts.
• Article: Mapping Accounting to QuickBooks Items (Products and Services) & Accounts

Receiving Payments

• Payments received in Novi AMS are tracked to the Undeposited Funds account in QuickBooks Online. This allows grouping deposits to match bank deposits.
• Can receive payment for multiple invoices with one payment.
• Articles:
  • Creating Deposits Using the Undeposited Funds Account
  • Receive a Payment in Novi AMS

Renewals Overview

• Auto-renew is recommended to enable automation.
• For auto-renewals, an administrator sets the number of days before expiration that renewals should run.
• When renewals run, it creates a new dues invoice in QuickBooks Online and extends the member's expiration date in Novi. 
• Review and batch send renewal invoices before sending to members.
• Can customize renewal messaging.
• Members can opt-in to auto-pay to have their renewal invoices automatically paid by a stored credit card or bank account
• Articles: 
  • Membership Auto-Renewals
  • Transaction Date & Payment Terms on Dues Invoices
  • How to Email Dues Invoices from Novi AMS
  • Smart Renewal Notices: How to Send Custom Emails for Membership Renewals
  • Auto-Pay For Membership Renewals

Dropping Non-Paying Members

• Associations need to establish an internal policy for how long of a grace period to allow after a dues invoice due date before dropping non-paying members.
• Use non-renew and credit to drop non-paying members - offsets invoice and moves expiration back.
• Define and follow process for how long to allow benefits before dropping.
  • How many days after the dues invoice is past due does your organization allow members to keep their benefits? 
  • Should they be dropped the day they become overdue, or do you give them a little more time? 
• Don't manually edit expiration dates.
• Document the dropping process in NoviNotes to ensure the full team is aligned.
• Inheriting members will also lose access when a parent company is dropped.
• Article: Non-Renew and Credit

Next Steps:

• As a team, determine the specific grace period policy for dropping non-paying members after the dues invoice due date.
• Document processes in your Novi Notes. Document your full internal processes around renewals (e.g. when they run, reviewing messaging) and member drops.
• Set calendar reminders for when renewal invoices will run to allow time for reviewing invoice messaging. 
• Review recommended help articles.
• Reach out to us with any additional questions!

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