How to use Envibe to make your end-of-year financial wrap-up easy

The end of the financial year can be a busy and stressful time for leisure facilities, with plenty on their plates to finalise. There’s pricing updates to do, stocktaking, accounts, communicating changes to members and collating all the necessary information to achieve financial closure.

The good news is that Envibe has all the tools you need to make the whole process as smooth and stress-free as possible. We thought we’d explore how you can use Envibe to tackle essential end-of-year tasks and save hours of time.

Price updates made simple

A new financial year often requires pricing to be updated in line with inflation, market trends and increased costs. Envibe helps make the process simple and allows you to choose what way works best for your facility.

You can change prices for memberships or casual sessions separately and schedule them to take effect on specific dates if you like. Another option is to use the bulk update feature to export your product list to Excel, update multiple prices at once, and reimport them all into Envibe.

The bulk-update option is especially handy for facilities with retail operations managing a variety of products – updating prices all in one batch can save your staff hours of valuable time while maintaining the accuracy of your inventory.

Harness Envibe’s Direct Debit Fee Wizard to easily apply increases on recurring payments for memberships and ongoing programs like swim lessons.

Streamlined stocktaking saves time

Stocktaking is an essential but often time-consuming end-of-year task. Envibe helps simplify the process and turns what might have previously taken days into something that can be completed in just a morning or two.

Envibe offers a range of clever functionality to make your stocktaking process faster and more accurate. For those who love their spreadsheets, Envibe gives you the option to export your current inventory to Excel, update quantities as you count, and then import the completed spreadsheet back into the system with minimal fuss.

For those who prefer a more mobile approach, Envibe’s Inventory module works on Windows mobile devices, letting your staff walk through your facility, count stock and update your stocklist digitally in real time. Envibe also integrates with many electronic stock-counting devices, allowing staff to update your stock list by scanning product barcodes and entering stock levels.

These digital approaches eliminate the tedious process of manually recording stock counts on paper and entering the data into your system – significantly reducing processing time by staff and the potential for error.

Keep your members in the loop

Envibe’s trigger messaging functionality provides the perfect solution for communicating end-of-financial-year changes to your members in a timely and effective manner.

You can create pre-set email or SMS messages about upcoming changes, giving you control over the tone and content of your communications, and choose when the best time is to send them.

For example, you could set up a trigger message to notify members of an annual price increase two weeks before it takes effect, giving them plenty of advance warning and avoiding any unpleasant surprises.

Envibe allows you to schedule these messages to be sent automatically on specific dates, or in response to particular events – like memberships being renewed – ensuring members receive information exactly when you want them to.

You can also target your communications to specific segments of your membership affected by changes unique to them, rather than sending blanket messages to all your members.

Comprehensive reporting at your fingertips

Envibe functionality makes it easy to generate the reports you need to stay on top of your financial management and achieve accounting closure at the end of the year. The end of the financial year is also the perfect time to reflect on the performance of your facility and make data-driven decisions about how you can improve it.

Standard reports include:

• Stock Level Report: Shows your total stock value.
• Sales Profit Report: Confirms all stock sold over the year.
• Aged Debtors Report: Creates a comprehensive list of outstanding account balances.
• Unspent Voucher Report: Shows the current liability of vouchers.
• Admission Count Report: Displays total admissions for the year.
• Sales Level & Override Audit: Details discounts and sales overrides that happened at the point-of-sale level.
• Membership Sign-up Report: Confirms the total number of active members.
• Utilisation Reports: Identifies your facilities most frequently booked spaces and which group fitness classes attract the most participants.

To complement standard reporting formats, Envibe can generate easy-to-understand graphs of year-on-year financials and performance data, making trends easy to spot and understand.

Envibe can also run bespoke reports to equip you with information on just about any aspect of your operation that you want to analyse, you can select the data you’re interested in and create the report in Data Explorer.

The Jonas Leisure team is always keen to help you create any other custom reports you think might be useful to help you understand your business better.

The end of the financial year doesn’t have to be stressful. With Envibe’s comprehensive tools for pricing management stocktaking, communications and financial reporting, you can efficiently wrap up this financial year and set yourself up for success in the next.

For more information about how to make the most of Envibe’s features for end-of-year tasks, contact our friendly support team to get their expert insights.