Financial Set Up
Financial Set Up is where you enter your Rate Card items. These items are then used when you assign booths, cancel booths, and enter orders for items like Sponsorships or Badges. You will need the name of the Item, the unit price, and the Item Type.
The system uses this information for orders, and allows you to group similar items together by Item Type for reporting and tracking/pacing purposes.
Set Up Rate Card
To set up your Rate Card, you will need to go select the Event that you want to edit, then navigate to Events>Financials>Settings>Financial Setup.
To enter a New Item scroll down to the Add New Item box, and enter the Item Name, Item Price, choose the Item Type from the Drop Down, and if you would like enter the GL Code OR the Debit/Credit Account Numbers, inventory quantity, and the Budget Amount for the item. Then click Add.
Item Name – This will appear in the Item Drop down when you create orders, it will also appear on the Statement/Invoice.
Item Price – This is the Price Per Unit for the item. If the item does not have a set price then use 0.00 as the price, and you can add the price when you create the individual order.
NOTE – the Booth Space items should have the Per Square Foot rate as their price. Ex. If your 10x10 booth is $1,200 then the Booth Space Item Price will be $12 (100sqft x $12 = $1,200)
Item Type – This is the larger category for this item. See below for a more detailed explanation of Item Types.
GL Code – You can either enter the GL (General Ledger) Code for this item, which can be used for reporting purposes.
Debit/Credit Account – these fields will show instead of GL Account if you are utilizing the Financial Export
Inventory – For tracking purposes you can enter a Quantity here. This is the number of this particular item you have available; if you would prefer you can enter Inventory on the Item Type level. [ex. Sponsorships may be tracked at the item level, as you only sell 1 Platinum, 2 Gold, and 3 Silver; You have 25 meeting rooms, which can be purchased for different rates, so you track the inventory at the Item Type Level.] More information is available below on Item Type Inventory.
Budget – For Tracking/Pacing purposes you can enter a budget amount, this is the amount that you expect to make for this line item. If you have 2 Gold Sponsorships at $5,000 each, record $10,000 in my budget line for that Item. I can also add in a budget at the Item Type Level, more on this below.
To edit an existing Item, click on the Item Name, and add or edit the fields as needed.
Item types are used to group like items together for tracking/pacing, and reporting. Additionally there are specific Item Types that are used on the floor plan during Assignments, Cancellations, and Downgrades. If the Item Type name is changed the Items will not show up in drop downs as noted here.
You can also specify GL codes at the Item Type level. This will add the appropriate GL code to your individual items in reports based on their type.
Booth Space – Items associated with this Item Type will show up in the Assign a New Order drop down box when you are assigning, or reserving a booth, and when you move an exhibitor out of one booth and into new booth. The item price is multiplied by the booth square footage to calculate the booth space price.
NOTE - If you use keywords “Barter”, “Trade” or “Comp” anywhere in the item name for items with Item Type Booth Space the system recognizes these as barter, trade, and comp respectively. This is displayed in the Financial Summary Report section titled ‘Summary for Item Type Booth Space’, and in the Weekly Sales and Pacing Report.
Booth Cancellation – These items are used when you cancel a booth that is assigned or reserved using financials. The Items will show in the drop down box called Order, and use the Cancellation Schedule to calculate the booth cancellation FEE.
Note –the amount of the Cancellation order is the amount that you KEEP or are OWED.
Downgrade Fee – Items of this type are used when you resize a booth that is already assigned, or when you move an exhibitor to a booth that is smaller than the one to which they were originally assigned.
Budget - This is the Overall Budget amount for this Item Type. If you leave this blank then the reports will pull the sum of the individual item’s budgets. You can enter a Item Budget and and Item Type Budget. [Ex. You have 1 Platinum Sponsorship @$4000, budget= $4000; 2 Gold @$3000, Budget=$6000; 3 Silver @$2000, Budget=$6000; Custom Sponsorship @$0, Budget=$0; Item Type Budget = $20,000]
Debit/Credit Accounts OR GL Code – If your GL Accounts or (with financial export module) Debit/Credit Accounts are associated with the Item Type, and not the individual item, then you would enter that information here, rather than in the Item record. [ex. If all your Booth Space is GL Code 5201 then you would enter it here; If Booth Space A is 5200-1, Booth Space B is 5200-2, and then you would enter your GL Code at the Item Level.]
Inventory – This is the total number of this Item Type that you have available. You can leave this blank and the system will look at the sum of the Items associated, or you can use this to track you overall Inventory instead. [Ex. You rent 25 Meeting Rooms per day at 3 different rates, but do not know how many you will sell at each rate. Your inventory would then be tracked at the Item Type Level, and be 25 Rooms multiplied by the number of days that you are renting them. ]