Financial Data

Most financial transactions take place in QuickBooks; QuickBooks is your financial recordkeeping software. The QuickBooks financial information is then read by ChamberMaster and viewed on each member’s account in the Members module.

Figure 5-2 Viewing account activity in ChamberMaster

However, recurring invoices and event invoices may be initiated in ChamberMaster, taking advantage of membership and event information found in ChamberMaster.

Figure 5-3 Recurring invoices and event invoices are easily generated through ChamberMaster

One-time invoices may be created in QuickBooks by following standard QuickBooks procedures or queued in ChamberMaster and created as a batch in QuickBooks.

 

 

 

 

 

 

 

Figure 5-4 One-time invoices may be created using ChamberMaster or by standard QuickBooks procedures

One-time invoices can be generated in ChamberMaster in one of two ways: created right along with recurring invoices or by creating all one-time invoices as a single batch.

Steps for creating recurring invoices are included in “Create Recurring Invoices & View Financial Activity”. “Create Event Invoices” addresses event invoices and “Create One-time Invoices” shows how to create one-time invoices.

Best Practices for Day-to-Day Financial Transactions

To take advantage of the connection, chamber employees should follow the suggested best practices in Table 5-2, “Best Practices for Day-to-Day for Financial Transactions”.

Task	Where to initiate the task	Results
Create recurring membership invoices	ChamberMaster	These invoices are initiated by clicking a button in ChamberMaster but created in QuickBooks. These invoices are in QuickBooks but also viewed on each member’s account in the Members module.
Create event invoices	ChamberMaster	These invoices are initiated by clicking a button in ChamberMaster but created in QuickBooks. These invoices are in QuickBooks but also viewed on each member’s account in the Members module.
Create other one-time invoices Examples would be one-time invoices for single purchases or items that will not be a recurring amount.	QuickBooks	These invoices are read by ChamberMaster and are also viewed on each member’s account in the Members module.
Receive payments*	QuickBooks	These payments are read by ChamberMaster and are also viewed on each member’s account in the Members module.

Table 5-2 Best Practice for day-to-day financial transactions

*Receiving payments may ONLY be done in QuickBooks. There is no place in ChamberMaster to receive payments.

One-time invoices may also be assigned in ChamberMaster and then created with a single click either along with the recurring membership invoices or whenever desired by selecting to generate all one-time invoices as a separate batch.

Selecting a procedure for creating one-time invoices does not have to be an all-or-nothing choice. You can generate a batch of one-time invoices in ChamberMaster but then also create any number of single invoices in QuickBooks. Both methods will display ALL invoices on the member’s Account tab regardless of where they were prepared.