FINANCIAL MANAGEMENT

1. FINANCIAL MANAGEMENT AUTOMATING FINANCE 24 AUGUST 2012 10:30 PRESENTED BY: Scott Watson Wing Financial Analyst swatson@capnhq.gov

2. 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

3. 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

4. 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

5. Intuit PaymentNetwork • Intuit PaymentNetwork Process • Wing creates and emails an invoice • Once received, members click a payment link on the emailed invoice

6. 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

7. 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

8. Intuit PaymentNetwork • Accepting Credit Cards: • Must be turned on through the PaymentNetwork • Creates a “Payment Method” option • Credit Card • Bank Account

9. Intuit PaymentNetwork Transaction fees are 3.25% of the transaction amount Funds are usually remitted to your bank within 3-5 business days

10. 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

11. 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

12. Intuit PaymentNetwork • Create Quick Response Codes (QR Codes) to enable payment from mobile devices

13. Intuit PaymentNetwork • Buttons and Links • Requires: • Amount • Email address • Banking Information • Personal account • One-time payment

14. Intuit PaymentNetwork • Optional: • Bank Account Holder Information: • Personal Comment

15. 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

16. Intuit PaymentNetwork Weekly Monthly Every two weeks Discount for using the PaymentNetwork

17. 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

18. Intuit PaymentNetwork • History and Status • View Recent/All Activity • View Payments • View Requests • Track Status

19. Intuit PaymentNetwork • Download Payments - “Payments” Only

20. Intuit PaymentNetwork

21. . • 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

22. . • Secure web-based solution to sign and store documents • Iphone App • Allow on-the-go approval

23. 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”

24. Wing Pilot Finance Report

25. Wing Pilot Finance Report Bill Members for proficiency fuel charges placed on Wing AVcards

26. 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

27. 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

28. AUTOMATING FINANCE Questions? Scott Watson Wing Financial Analyst swatson@capnhq.gov