Batch Data Entry (Finance)

The ‘Batch Data Entry’ feature in the Finance Management module of Retention CRM allows Associations, Chambers of Commerce and Nonprofit organizations to efficiently record a large number of payments/incoming funds at once. Instead of entering each payment individually, you can use a grid format to enter information for multiple payments simultaneously. This saves a significant amount of time, especially when dealing with membership renewals or recurring donations.

General Functionality of the ‘Batch Data Entry’ Feature

• New Data Entry Batch: This button initiates the creation of a new batch for recording payments.
• Batch Name: Assign a descriptive name to the batch for easy identification (e.g., “Nurse Membership Renewals – June 2024”).
• Type: This allows you to specify the type of payment being recorded. Retention CRM may have pre-defined options or allow for custom types. In the context of a nursing association, you might have options like “Membership Renewal,” “Event Registration Fee,” or “Donation.”
• Item Count: Enter the anticipated number of payments in this batch. This helps with tracking and verification.
• Total Amount: Enter the expected total amount collected for all payments in the batch. This should match the sum of individual payments.
• Status: This displays the current status of the batch. It’s typically “Open” when you’re entering data and changes to “Closed” after processing.
• Created By: This shows the name of the user who created the batch.

Using Batch Data Entry in a Association Management

Scenario:

The Happy Nurses Association is processing membership renewals for the year. They have a list of 100 renewing members, each paying a $50 annual fee.

How They Use Batch Data Entry:

1. Go to Finance > Batch Data Entry > New Data Entry Batch.
2. In Batch Name, enter “Happy Nurses Association – Membership Renewals (2024)”.
3. Select “Membership Renewal” from the Type drop-down (assuming it’s available).
4. Enter “100” in Item Count, reflecting the number of renewals.
5. Enter “5000” (100 members * $50 each) in Total Amount.
6. The system will automatically display “Open” in Status and the username of the person creating the batch in “Created By.”
7. Now, a grid will appear where you can enter details for each member’s renewal, such as member ID, name, and any additional information needed (e.g., payment method).
8. Once all information is entered, you can validate and process the batch. This will record all renewals and update member records in Retention CRM.

More Use Cases for Associations

1. Processing Membership Renewals

• When a large number of memberships are up for renewal, you can utilize “Batch Data Entry” to efficiently record the membership dues payments. Create a batch for “Membership Renewals,” define the membership type and renewal amount, and then enter details for each member renewing (such as name and ID) within the batch. This significantly reduces the time required to process a large volume of membership renewals.

2. Recording Event Registrations

• After an event with online registration, you might have a list of attendees and their corresponding registration fees. “Batch Data Entry” allows you to import this data (assuming it’s in a compatible format like CSV) and quickly create payment records for each attendee’s registration fee. This eliminates the need to manually enter each registration individually.

3. Offline Donations Processing

• Associations might receive donations offline through cash or checks. Instead of entering each donation separately, you can create a batch for “Offline Donations.” Define the donation type (one-time donation, etc.) and then enter details for each donation within the batch, including donor information, amount donated, and payment method (cash/check). This simplifies recording offline donations while maintaining accurate data.

Using ‘Batch Data Entry’ saves Associations, Chambers and Nonprofits significant time and effort compared to entering financial and payments data individually. It also helps ensure data accuracy by minimizing manual entry errors.