Category Archives: Financials
More Payments Automation
NeatSchool has been providing support for online payments for quite some time now. We make it possible for our customers to provide both bank-to-bank and credit card payments. Bank to bank transactions are free, while credit card transactions incur a fee, typical of what you find in the industry. Many of our customers already use that functionality to streamline their tuition collection and save time from dealing with checks and cash.
In our most recent upgrade we included two new features that many of you have been asking for some time now. Your customers can now store their credit card as part of their profile. As with all our other sensitive information, the data is stored encrypted in physically secure certified for security and PCI compliance data centers.
When you want or automatically once a day the system will use that information to charge the card on file for all the customers who have a balance. The customer’s register is automatically updated with the transaction. All that and more options are controlled from the settings page. Please try the payments automation and send us your comments.
New Screencast details Automatic Payment Reminders
We recently introduced automatic payment reminders and wrote about it here. Last week we released a new screencast that shows step by step how to turn automatic payment reminders on and how to configure this capability. You can find a link to this and all the other NeatSchool screencasts in Help.
Issuing Forms 1099 with NeatSchool
Most U.S. organizations have to issue 1099 forms to vendors they paid more than $600 during the calendar year. You should consult your accountant for all the details but pretty much anybody who provided your organization a service and is not incorporated as an S or C Corporation needs such a form. The IRS makes clear that is the responsibility of the payer to track the amount(s) and report by January 31st.
NeatSchool financials have many ways to help you keep track of and issue 1099s:
- Every Partner/Vendor record has room for an SSN or EIN
- The records also have a checkbox on whether the vendor requires a 1099
- There is a report called “Expenses by Vendor” that shows the total amount you paid to each Vendor you worked with in a certain period
- The “Expenses by Vendor” report dialog box allows for a report that includes all the information you need to have 1099-MISC and 1096 issued.
- Finally, we support certain pre-printed forms and we can print the 1099s directly on them.
If you did not keep your financials in NeatSchool in 2013, it is not too late to start for 2014!!!
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