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FINANCIAL MANAGEMENT. AUTOMATING FINANCE 24 AUGUST 2012 10:30 PRESENTED BY:Scott Watson Wing Financial Analyst [email protected] Intuit PaymentNetwork. Intuit PaymentNetwork Accounts are set up by a Wing Financial Analyst https://ipn.intuit.com/

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FINANCIAL MANAGEMENT

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FINANCIAL MANAGEMENT

AUTOMATING FINANCE

24 AUGUST 2012

10:30

PRESENTED BY:Scott Watson

Wing Financial Analyst

[email protected]


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


Intuit PaymentNetwork


.

  • 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


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

[email protected]


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