Year End Resources: ChamberMaster

1. Review Chart of Accounts:

• Review your chart of accounts to ensure that all names of accounts in CM/MZ match names in your accounting software.
• De-activate any accounts that you are no longer using (DO NOT DELETE) to clean up your database
• Knowledge Base articles:
  • Chart of Accounts

2. Review Fee Items:

• Do you need to increase your prices and/or change descriptions?
• De-activate any fee items that you are no longer using (DO NOT DELETE) to clean up your database
• Knowledge Base articles:
  • Increase Membership Dues
  • Create and Modify Fee Items

3. Update Your Membership Application

• If you have changed pricing for your membership dues, the change will not automatically update the Membership Application.
• Knowledge Base articles:
  • Online Membership Application Setup

4. Review Member Data for Billing Completeness:

• Generate a Custom Member report to check for Fee Schedules, Fee Items, Renewal Month, Billing Contact
• Update Member Billing details if necessary
• If using ePayment, use the ePayment Fee Assignment Report to verify credit card expiration dates
• Knowledge Base articles:
  • Custom Member Report
  • ePayment Fee Assignment Report

5. Review/Manage Past Due Invoices:

• Generate the Invoice Summary report to identify and resend Overdue Invoices
• Generate Collections Report
• Generate Collections Letters
• Review Open Credits/Unapplied Payments
• Write-off Invoices as needed
• Knowledge Base articles:
  • Invoice Summary Report
  • Collections Report
  • Collections Letters
  • Payment Summary Report
  • Write-off Invoices (Ind)
  • Mass Drop/Write-off

6. Generate Invoice Batches

• Generate Invoices for Membership Dues
• Review Invoice list for Events & One-time Fees to determine if invoices need to be generated to complete the year’s billing
• Knowledge Base articles:
  • Create Batch of Recurring Invoices

7. Sales by Item Report

• Generate this report to review the sales from this year for better budgeting.
• Knowledge Base articles:
  • Sales by Item Report

8. Scheduled Sales by Month Report

• Generate this report to view expected sales for the coming year
• Knowledge Base articles:
  • Scheduled Sales by Month Report

9. Membership Renewals

• Generate this report to view renewals by month for the coming year for better budgeting purposes
• Knowledge Base articles:
  • Membership Renewals Report

10. Growth Report

• Generate this report to view growth and drops over the previous year
• Knowledge Base articles:
  • Membership Growth Report

11. Take year snapshots of member statistics

• How many members were active this year? How many new members? How many drops! Take snapshots of this information for future historical comparison and to include in your year-end calculations.
• Knowledge Base articles:
  • Active Members Report
  • Member Listing by Join Date
  • Member Listing by Drop Date

12. Membership Calculations

• Retention Rate
• Lapse Rate
• Renewal Rate
• Average Membership Tenure (AMT)
• Member Lifetime Value (MLV)
• Member Acquisition Cost (MAC)
• Knowledge Base articles:
  • Common Membership Calculations

13. Revenue Reports

• Sales Summaries – Membership Dues
• Sales Summaries – Non-Dues Revenue
• Knowledge Base articles:
  • Sales By Item Report

14. Contact Cleanup

• Merge Duplicates
• Review/Update Prospect vs. Non-Member – update as needed
• Send Member Update Email to get members to update their information
• Drop Members
• Review and Update Community Member record
• Knowledge Base articles:
  • Merge Members
  • Custom Member Report
  • Send Email to Members to Update Contact Information
  • Drop Members
  • Community Member

15. Group Cleanup

• Create new groups for the coming year
• Disable reps no longer participating
• Disable groups no longer needed
• Knowledge Base articles:
  • Create a Group
  • Disable Reps in Group
  • Disable Groups