GrowthZone: Year End

1. Review Chart of Accounts:

• Review your chart of accounts to ensure that all names of accounts in GZ 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
  • Deactivate an Account in your Chart of Accounts

2. Review Non-Dues 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:
  • Set Up Standard Fee Items
  • Deactivate Fee Items

3. Review Member Data for Billing Completeness:

• Generate the Membership report to check for Fee Schedules, Fee Items, Renewal Month, Billing Contact
• Update Member Billing details if necessary
• Verify Credit Card Expiration dates
• Knowledge Base articles:
  • Membership Report
  • Stored Payment Profile Report

4. Review/Manage Past Due Invoices:

• For Memberships view Memberships > Unpaid to resend overdue membership invoices
• Use the Sales/Invoices tab in the Billing Module to resend other overdue invoices
• Based on your processes use the Open Invoices report to write-off unpaid invoices.
• Knowledge Base articles:
  • Manage Unpaid Membership Dues
  • Resend Overdue Invoices
  • Open Invoices Report

5. Review Invoice Template:

• Make any needed changes to your invoice template (ie. do you need to change any terms or deductibility statement?)
• Knowledge Base articles:
  • Set up your Invoice Templates

6. Update Your Membership Application

• Review your membership application for any needed changes
• Knowledge Base articles:
  • Membership Application

7. Review Membership Pricing

• Do you need to increase your prices and/or change descriptions?
• Knowledge Base articles:
  • Manage Membership Recalculated Pricing (for anniversary-based membership types)
  • Effective Date Pricing (for "Renew Everyone On" based membership types)

8. Review Autopayments

• Review membership autopayment status, CC expiration dates
• Is Invoice Before Autopay turned on? Should it be?
• Knowledge Base articles:
  • Stored Payment Profile Report
  • Invoice Before Autopay

9. Sales by Account

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

10. Recurring Billing Report

• Generate this report to view expected sales for the coming year
• Knowledge Base articles:
  • Recurring Billing 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:
  • Membership Change Report
  • Membership Referral Report
  • Membership Report
  • New Membership Report
  • Renewal Membership Report
  • Dropped Membership Report
  • Retention Report

12. Membership Calculations

• Generate these reports as needed to detail calculations such as Retention Rate, Lapse Rate, Renewal Rate, etc.
• Knowledge Base articles:
  • Retention Rate: Retention Rate is the percentage of members retained over a given period of time. This metric can be calculated if you know how many members you had at the beginning of a period, and many you had at the end of a period.
  • Lapse Rate (Churn): Lapse Rate (Churn) is the percentage of members that discontinue their membership over a given period of time.
  • Renewal Rate: Renewal Rate is the percentage of members that renew their membership over a given time period.
  • Average Membership Tenure (AMT): Average Membership Tenure is the average length of time a member stays with the organization. This can be useful in projecting expected membership tenure for new members
  • Member Lifetime Value (MLV): Member Lifetime Value (MLV) is the measure of monetary value of a member based on projected length of membership.
  • Member Acquisition Cost (MAC): Member Acquisition Cost (MAC) is the total monetary cost associated with recruiting a new member. To effectively maintain and/or grow an organization, it is necessary to assign an average monetary value to potential membership sales.
  • MLV to MAC ratio: MLV to MAC ratio is the measurement of the relationship between the lifetime value of a member and the cost of acquiring that member. Best Practice: Aim for 3:1 as the target ratio.

13. Revenue Reports

• Sales Summaries – Membership Dues
• Sales Summaries – Non-Dues Revenue
• Knowledge Base articles:
  • Total Spending by Contact Report

14. Accounts Receivable

• Accounts Receivable Aging Detail
• Knowledge Base articles:
  • Accounts Receivable Aging Detail

15. Contact Cleanup

• Merge Duplicates
• Send Member Update Email to get members to update their information
• Drop Members
• Knowledge Base articles:
  • Merge Contacts
  • Member Update Email
  • Mass Drop Members with Overdue Membership Invoices

16. Group Cleanup

• Create new groups for the coming year
• Disable contacts no longer participating
• Disable groups no longer needed
• Knowledge Base articles:
  • Add a New Email List
  • Add a New Committee
  • View/Edit Contacts on a List/Committee
  • Update List/Committee Settings