Finance

• Ensure all invoices have been received and are paid 

• Make sure all delegates registration are paid 

• Balance Receipt book with finance reports

• Sign off with finance department

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Sign Off

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Before we refund any potential surplus to the client, you need to sign off the conference with our financial controller (Ed). Before you meet Ed, you will need to create an accounts folder in your conference sign off folder on the N drive and save the following documents for him to check:

• EA Events Statistics Report (see screen shot at end of document)

• EA Payment Detail/Summary List, ordered by receipt number in excel (see screen shot at end of document)

• Final client budget

To ensure all of the above is correct, the following reports need to match:

1. Expenditure Budget needs to match Tourplan invoice

2. Income for accommodation in EA Event Statistics Report needs to match accommodation invoice in Tourplan

3. Income budget needs to match EA Event Statistics Stats Report 

4. Receipt Book should match EA receipt list (i.e. total income recorded in EA should match total income received on bank account).

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1. Matching Expenditure Budget & TP

• Ensure you have set up an itinerary in TP for each section in your budget. (see screen shot at end of document)

• Insert an itinerary by clicking pax configuration/ insert itinerary, name your itinerary and ensure you have 1 single room inserted. (see screen shot at end of document)

• If there are any service lines inserted under the wrong itinerary in your booking, then you can move these by clicking the service line you wish to move then click service details/ click the itinerary in the itinerary list you wish to move this service line to and then click ok for all pop-ups.

• Insert all suppliers service lines under each itinerary of the booking according to the budget.

• Ensure the sell price for each supplier matches your budget.

• In addition, check that the VAT amount in TP matches the VAT amount on the invoice received from supplier before you send the invoice to accounts payable to ok payment.

• If an item in the budget is an Abbey fee without supplier cost, please insert ABB019 and choose the correct administration fee with correct VAT (generally 23%)

• If you have marked up a cost then the sell price will be higher than your cost

• If you have agreed a commissionable rate with your supplier then cost and sell price will likely be the same. You will need to insert another supplier line for commission and insert the commission amount as a minus cost. To calculate the correct commission amount, please use the sample commission invoice saved under the templates and training folder. Send the pdf version of this commission invoice to your supplier and copy Aisling Sutton from account on this email, so this payment can be chased if required.

• If you have one supplier invoice for services split out over different sections in your budget, then insert the supplier multiple times under the correct itineraries and split out the cost.

• Once all suppliers have been inserted under the itineraries that match your budget, you can raise the invoice. Click accounts summary/ invoice/ select correct itineraries/ click forward. If the invoice total shown matches the total expenditure in your budget then you can click save to raise your invoice. If this does not match, then the easiest way to check where the mistake lies is by clicking invoice, 1 itinerary at the time to check if each itinerary matches each section in your budget.

• In addition to all itineraries matching your budget sections, you will may require to insert another few itineraries, as follows:

• Deposits; you may have deposits to pay prior to the start of the conference. If this is the case insert the supplier deposit line twice. 1x with the amount required and 1x with the same amount as a minus line. The plus amount ensures our accounts department can pay this supplier and the minus amount cancels out this cost, as the total amount will be inserted under the correct itinerary matching your budget.

• Expenses; to insert any expenses related to this conference, which you cannot charge to the client. Ensure there is cost inserted only with sell being 0, showing you -100% mark-up on all items in this itinerary.

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If you request cash expenses in advance of your conference, then you will need to insert a cash line (CAS001) in your booking, for accounts to be able to give you this cash. After the conference, once you have inserted all cash lines for expenses made, you will need to delete this line again.

• Bank charges; these are generally noted on the income section of your budget. Insert a separate itinerary for bank charges and insert an ABB019 administration fee with 23% VAT and invoice this amount separately.

• Failte Ireland; If you receive funding from Failte Ireland for this conference then you will need to create a Failte Ireland itinerary in your booking. You will need to insert the Failte Ireland funding line twice in this itinerary. 1x with plus line in the sell field and 1x as minus line in the sell field, as this is money coming in and being paid back to client. The plus line needs to be invoiced, so that accounts can allocate the money to this booking. Click accounts summary/ select the Failte Ireland itinerary / change your agent to FAI001 and click forward. Click control D on the minus line and click save to invoice the plus amount. Do the same for the minus amount and the total funding will balance in your booking                                                                                                             

2. Matching Accommodation income EA with TP invoice

Accommodation: insert all suppliers with cost to match the invoice received by the accommodation providers and insert commission lines as applicable. The total sell for all accommodation should match the total income received for accommodation in the EA Event Statistics Report.

If you charge the client for accommodation for speakers/ staff etc then the total of the accommodation itinerary plus the accommodation cost charged in the budget should match the total accommodation income received in EA.

 

3.Matching Income Budget & EA Stats Report 

Ensure that all income noted under registration fees, functions and sponsorship in the EA Events Statistics Report match the income section of your budget.

 

 4.Matching Receipt Book Income with EA Income

• Aaron in accounts department updates all income received via credit card and bank transfer for your conference in the receipt book twice a week. (N: Conference & Events: Financials: Receipt Book: choose year)

• To ensure we can check that all income received matches income recorded in EA and income stated to client in your budget, all transactions need to have a matching EA receipt number (attendee record/payments/audit trail). The receipt book is updated by the delegate services team on a weekly basis.

• Before you can sign off on your conference, ensure that all bank transfers and credit cards for your conference payments in the receipt book have the matching EA receipt number filled in. Check receipt book for previous years also!

• Once you have done this, ask Ed for a sign off meeting. Ensure that all documents, as outlined on page 1 have been saved in the sign off folder.

• Ed will check all income marked in the receipt book as income for your conference against the income recorded in Events Air and query any receipts that do not match, which will need to be fixed in EA/ on receipt book as appropriate.

 

Sign off Complete

The sign off on your conference will be complete once you have met Ed and he confirms:

• Your TP client invoice matches your budget expenditure

• Your TP accommodation income matches EA income

• Income in your final budget matches income recorded in EA

• Income recorded on receipt book matches income recorded in EA

You can now fill in the agent refund form to transfer any surplus in the budget to the client. This needs to be signed by a director and send to Aaron in accounts.

 

Report

After you finalized sign off procedure, report the net revenue and net margin to your manager.

In Tourplan, go to Operations/ Fill in your reference, Click Tour Window / click on any tab to load all / Click on Summary tab and take the net revenue (Agent Value ) and net margin (Profit Value) from this tour window. Ensure that the box ‘exclusive Tax’ is ticked on top right corner.

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Close all links on Events AIr

• Ensure that all your registration links are closed in EA,we don't want people to register by accident after the event

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Post event communications 

• The client may want you to contact Sponsors and Exhibitors to thank them for taking part 

• May need to contact delegates to thank them for participating and provide them with any updated information regarding upcoming events/conferences of interest.

• Contact suppliers to thank them for there help and assistance.

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Certificates and Surveys

• We may need to issue Certificates of attendance depending on the conference requirements, We can do this through EA 

• Some conferences issue CPD (continual professional development) points to their delegates for attending.The point are provided by the client and we issue documentation to support this and confirm their attendance.

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Testimonials / references 

• The Project manager may ask the client for a testimonial or reference for Abbey C&E which can be added to the website.

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Case Studies

• The Project manager would put together a case study of the event which can be used a reference document in the future or could be used in future presentations.

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