Interpreting the Payments Report

Payments Report

Key Metrics Overview

At the top of the Payments report, three key financial metrics are displayed:

• Payment Amount Captured: The total amount collected from care plan payments.

• Fees Captured: The total transaction fees deducted from payments.

• Net Payments: The total payments received after deducting fees.

These values help clinics track payment collections, associated fees, and net revenue.

Payment Table Breakdown

The Payments table provides a detailed breakdown of transactions. Each column represents specific data:

• Customer: The pet owner's name.

• Patient: The enrolled pet’s name.

• Invoice Created Date: The date the invoice was generated.

• Invoice Payment Date & Time: The exact date and time the payment was captured.

• Care Plan: The selected care plan.

• Card Type: The type of payment method used (e.g., Visa, Mastercard, Discover).

• Last Four: The last four digits of the payment card used.

• Enrollment Status: Indicates if the plan is active.

• Payment Amount: The total amount charged for the care plan.

• Fees Captured: The transaction fees deducted.

• Net Payment: The amount received after transaction fees.

How to Use These Reports

• Monitor Active and Expired Enrollments: Track active and expired plans to ensure timely renewal follow-ups.

• Track Financial Performance: Use Unbilled A/R, Deferred Revenue, and Payment Amount Captured to assess revenue trends.

• Analyze Discounts & Fees: Identify the impact of plan discounts and payment processing fees on overall revenue.

• Billing & Collections: Review outstanding payments and ensure timely invoicing and collections.

Common Use Cases

• Revenue Forecasting: Estimate future revenue based on deferred income and payment trends.

• Client Engagement: Identify expiring plans and proactively reach out to pet owners to discuss renewal options.

• Payment Reconciliation: Ensure all payments align with invoicing records and address any discrepancies.

By leveraging the Care Enrollments and Payments reports, veterinary clinics can optimize their care plan management, enhance financial tracking, and improve client communication.