Analyzing Financial Data Discrepancies In Time To Pet

Time To Pet contains robust sets of financial data and provides various reports to help our customers view their businesses from different angles. Sometimes, it may seem like the numbers given in various areas just aren't matching up. In this article, we will explain how to identify what is being calculated in each screen or report within Time To Pet, and break down the most common discrepancies our customers need assistance with.

Reporting

Revenue Reports

In Time To Pet, Revenue is the total amount charged to clients after invoice discounts have been prorated and deducted and does not include taxes, tips, or deductions for payment processing fees. Revenue totals are based on the date of the line items within invoices and do not take into account the date or due date of the invoice itself. In addition, Revenue totals do not take into account whether or not an invoice has been paid. Each Revenue Report looks at a different set of data as shown below:

Revenue Over Time

Including Revenue By Segment Over Time, Client Revenue Over Time, Total Client Revenue, WoW/MoM Revenue By Client, Top Clients, and Referrals

Services Over Time

Including Revenue By Service, Client Revenue By Service, User/Staff Revenue, and User/Staff Revenue By Service

Revenue By Custom Line Item

Packages Over Time

Including Revenue By Package

Payment Reports

Payment Reports detail any payment recorded on a client account, including credit card payments, debit card payments, ACH payments, manual payments that were received outside of Time To Pet, credits, and open payments. Payment totals are based on the date the payment was entered and do not take into account the date or due date of any invoice(s) they are applied to, nor are they tied to any individual event or line item within an invoice. The totals given in the Payment Reports do not include any deductions for payment processing fees. 

Credits

The Credit report lists any credits applied to client invoices within the specified period of time. Totals are based on the date the credit was applied and do not consider the date or due date of the invoice(s) they are applied to. This report does not include unused credits that are available in a client's credit balance and only include credits that have actually been applied to invoices. Credits are not actual money you have received from a client but rather monetary amounts you "gifted" your client to use towards services.

Gift Cards

The Gift Cards report lists all Gift Cards purchased and is based on the date of purchase. The totals listed may or may not be actively applied to invoices.

Payments - All

The Payments - All report includes all actual money received by clients, including credit and debit card payments, ACH payments, and manual payments that are recorded on a client's account. This report does not include credits that have been applied to invoices. Payments listed in this report may or may not be actively applied to an invoice and do not take into account the date or due date of any invoices, events, or line items.

Payments - Applied

The Payments - Applied report includes all payments that are actively applied to an invoice, including credit and debit card payments, ACH payments, manual payments, and credits. Totals for these payment amounts, as well as the total amount of taxes and tips collected, are based on the date of the payment and do not take into account the date or due date of any invoices, events, or line items, and they can be found along the top of the report.

Above the Payments - Applied report is a strip of data containing more detailed tax and tip information.

This strip of data is based on the total of payments applied to invoices that charged for taxes. In the above example, there is a $50.00 payment applied to invoice 000123 and a $79.55 payment applied to invoice 000126. Invoice 000123 has a total due of $411.95, with the following tax and tip charges:

This invoice is roughly 12.14% paid. So, to determine how much of the $50 payment is made up of taxes and tips, we can calculate 12.14% of the $24.50 tax charge and $37.45 tip. We get $2.97 and $4.55.

Meanwhile, there is a $79.55 payment applied to invoice 000126, which which has a total due of $95.60. It had the following tax and tip charges:

This invoice is roughly 83.2% paid. So, to determine how much of the $79.55 payment is made up of taxes and tips, we can calculate 83.2% of the $5.60 tax charge and $10 tip. We get $4.66 and $8.32.

Together, the tax collected from the two invoices comes to $7.63 and the tips collected from the two invoices comes to $12.87. The total payment collected minus the tax and tips comes to $109.05. These totals are reflected at the very top of the report:

Payments - Open

The Payments - Open report includes all actual money received by clients that is not actively applied to an invoice, including credit and debit card payments, ACH payments, and manual payments. Totals are based on the date of the payment and do not take into account the date or due date of any invoices, events, or line items. Open payments are actual money you have received from clients and do not include any unused credits that are available in a client's account. 

Refunds

The Refunds report includes all refunds issued to clients via credit card, debit card, ACH, and manual payments and is based on the date the refund was issued. Totals do not take into account the date or due date of any invoices, events, or line items.

Sales Reports

The Sales Report in Time To Pet looks at invoices as a whole and is based on the date or due date of the invoice. You can choose to include only paid invoices with a $0 balance due or all invoices regardless of the balance due. The resulting report will break down each invoice and show you the subtotal, any discount applied, any taxes charged, the tax rate applied, tips added, the total invoiced amount, and the balance due for each individual invoice within the specified date range as well as the totals for all invoices combined.

Visits Report

The Visits Report (found in Schedule Reports) lists all events within a specified period of time that meets the criteria you set in the provided filters. For each line item, you'll be given the gross revenue for that item (unlike the revenue totals in the Revenue Reports, this revenue total does not include any deductions for discounts on the invoice), pet fees charged to the client for that event, holiday fees charged to the client, and the amount the user or staff member was paid for that event. Keep in mind that the user/staff pay column will only show the amount actually paid on a user invoice or pay stub. If the event has not yet been included in a user invoice or pay stub, this column will show $0.00 since nobody has been "paid" for the event. 

Invoice List

The Invoice List displays three totals at the top of the screen: Unpaid, Paid, and Past Due.  All three totals are determined by the Due Date on each invoice.

The Unpaid total includes the total of all invoices with a balance still due, even if an invoice is partially paid. For example, if an invoice has $100 in charges, and $50 of that has been paid, the entire $100 would still be calculated as Unpaid.

The Paid total includes the total of all invoices that are paid in full.

The Past Due total includes only the remaining balance due on invoices that are past the due date. For example, If an invoice that was due 3 days ago has $100 in charges, and $50 of that has been paid, only $50 would be calculated as Past Due.

Time To Pet Payments Dashboard

Payouts

The Payouts tab in the Time To Pet Payments Dashboard includes two sets of data:

Upcoming Payouts

Upcoming Payouts lists money you have received from clients via debit, credit, and ACH payments via Time To Pet Payment Powered By Stripe, but have not yet been included in a payout to your bank account. The amounts shown are what is estimated to be deposited to your bank account after processing fees have been deducted, and the amounts can change as more payments are processed and refunds are issued. The dates listed on upcoming payouts are also estimated and can be affected by bank holidays, weekends, and your configured payout frequency. 

Sent Payouts

Just below the Upcoming Payouts section, there is a graph that shows the total gross payments "Processed" that were included in payouts sent to your bank account in the specified period of time. The "Fees" are the fees that were deducted from the gross payment amount before being sent to your bank account. The totals in Sent Payouts are based on the date the payout was initiated and do not take into account the date of the included payments.

Below the graph is a breakdown of each individual payout within the specified period of time and lists the gross payment amount, fees, and net payout amount after fees were deducted. To see which client payments were included in each payout, click the blue "Full Report" button to the right of each payout, which will list each individual client payment included in the payout, and shows the gross payment amount, fees, and net payment amount for each.

Payments

The Payments tab in the Time To Pet Payments Dashboard contains a list of all credit, debit, and ACH payments charged in the specified period of time and shows the total charged and the processing fee deducted from that charge. The payments listed are based only on the date the payment was made and do not take into account the date it was included in a payout, the date or due date of any invoices the payment is affiliated with, nor the date of any events or line items on those invoices. The payments listed here were processed by Time To Pet Payments Powered By Stripe and do not include any manual payments entered on a client account.

WePay Dashboard

The WePay Dashboard is similar to that of the Time To Pet Payments Dashboard in that it contains two tabs for Withdrawals and Payments but contains slightly less information.

Withdrawals

The Withdrawals section includes a graph that shows the total gross payments "Processed" that were included in withdrawals sent to your bank account in the specified period of time. The "Fees" are the fees that were deducted from the gross withdrawal amount before being sent to your bank account. The totals in Withdrawals are based on the date the withdrawal was initiated and do not take into account the date of the included payments.

Below the graph is a breakdown of each individual withdrawal within the specified period of time and lists the gross payment amount, fees, and net withdrawal amount after fees were deducted. To see which client payments were included in each withdrawal, click the blue "Full Report" button to the right of each withdrawal, which will list each individual client payment included in the withdrawal, and shows the gross payment amount, fees, and net payment amount for each.

Payments

The Payments tab in the WePay Dashboard contains a list of all credit, debit, and ACH payments charged in the specified period of time and shows the total charged and the processing fee deducted from that charge. The payments listed are based only on the date the payment was made and do not take into account the date it was included in a payout, the date or due date of any invoices the payment is affiliated with, nor the date of any events or line items on those invoices. The payments listed here were processed by WePay and do not include any manual payments entered on a client account.

Pay Center

The Pay Center contains four tabs with different sets of data:

Pay Stubs/Invoices

The Pay Stub/Invoices tab lists all Pay Stubs/Invoices that have been generated and finalized. Each line shows the breakdown for a single pay stub/invoice that was issued to a specific staff member/user for the date range shown. The "Amount" column indicates the total amount of the pay stub/invoice with tips included. The "Amount minus tips" column indicates the total amount, not including tips. Finally, the "Tips" column indicates how much of the total were tips. 

Pay Report

Filtered By Visit Date/Line Item

The "Generated" totals reflect the total amount paid out on a finalized pay stub/invoice for visits, line items, and tips with a date within the specified date range. Totals do not take into consideration the date that any pay stubs or user invoices were generated. 

The "Projected" totals reflect amounts not yet paid out on a pay stub/invoice for events and line items with a date between the specified date range. This total does not calculate pay for cancelled services.

Filtered By Invoice Generated Date

Only "Generated" totals are given as this total reflects amounts paid out on finalized pay stubs/invoices. Totals are based on the date the paystub was generated and do not take into account the dates of the events or line items.

Tips

The Tips tab includes two sets of data:

Non-Disbursed Tips

The "Non-Disbursed Tips" section lists all tips that have been added to a client invoice but have not yet been disbursed to a staff member/user. Non-Disbursed tips are not able to be paid out on a pay stub/invoice. 

Disbursed Tips

The "Disbursed Tips" section lists all tips that have been disbursed to staff members/users. These tips are able to be paid out on a pay stub/invoice. 

Tip Report

The Tip Report tab includes three different Tip Reports: Tips Over Time, Tips By User, and Tips By Client. Each report provides the total tips disbursed based on the date filter chosen. Tips are not included in any of these reports if they are not yet disbursed.

Filtered By Invoice Due Date Or Invoice Date

When filtered by Invoice Due Date or Invoice Date, only tips included on client invoices with a due date or date between the specified dates will be shown.

Filtered By Pay Period Start Or Pay Period End

When filtered by Pay Period Start or End, only tips that are included in a pay stub/user invoice with a pay period start or end date between the specified dates will be shown. 

Filtered By Tip Disburse Date

When filtered by Tip Disburse Date, only tips that were disbursed between the specified dates will be shown.

Step Two: Compare The Differences

Now that you have a description of the sets of data you're looking at, it's time to compare those differences. Here are some examples from actual support tickets we have received:

Revenue Over Time vs. Revenue By Service

A customer was looking at the Revenue Over Time report and the Revenue By Service report from April 4th, 2021 through April 10th, 2021. Revenue Over Time showed a total of $1,126 while the Revenue By Service total showed a total of $788.50. Why was there a #337.50 discrepancy?

Using the descriptions of these two reports, we know that Revenue Over Time includes all line items on an invoice including the primary service, add-on services, extra fees, packages, and custom line items. However, the Revenue By Service report does not include custom line items or packages. This indicates that there are $337.50 in package line items and/or custom line items that are dated between April 4th and April 10th. 

To confirm this, we first ran a Revenue By Package report and quickly saw that there were $337.50 in packages in that date range, confirming the reason for the discrepancy.

User/Staff Revenue vs. Pay Stub/Invoice Total: Case One

A customer was looking at the Staff Revenue total and Pay Stub/Invoice total for a staff member for February 2022. The Staff Revenue showed a total of $785.00 and the Pay Stub showed a total of $589.00. Why is there a $216.00 discrepancy?

Using the descriptions of these two reports, we know that Staff Revenue is the total amount charged to clients for all primary services, add-on services, and extra fees that were assigned to a specific staff member. The Pay Stub total is what was actually paid to the staff member for events within the pay period, as well as any custom line items added to the pay stub/invoice. Unless a user or staff member is being paid 100% of what the client was charged and has no custom line items or tips included on their pay stub/invoice, Staff Revenue and Pay Stub/Invoice totals will never match.

User/Staff Revenue vs. Pay Stub/Invoice Total: Case Two

A customer was looking at the totals for a specific user (we'll call them John for anonymity) in the User Revenue report and the user invoice for the pay period of May 16 - May 29. The User Revenue report showed a total of $953 in revenue, and John's invoice showed a total of $669.65. John's pay rate for all service types is set to 60%. 60% of $953 is $571.80, so why was John paid $669.65, a discrepancy of $97.85?

Using the descriptions for each set of data, we know that User Revenue is the total charged to clients for all primary services, add-on services, and extra fees that are assigned to a specific user, with invoice discounts prorated and deducted. The user invoice total is the total paid to a user for all events completed within the specified date range plus tips and custom line items. In this case, there were no tips or custom line items added to the user invoice, so we can look strictly at what was paid for the events within the date range. 

Looking at the client invoices for the events on John's user invoice, we found one invoice that had a $147 discount. Client invoice discounts do not affect the pay that is calculated for users, but it is prorated and deducted from the Revenue total for each event on the invoice. 

We also found John was paid $7.25 for one "Meet & Greet" type service that wasn't charged to the client at all. So, that $7.25 was included in John's user invoice total, but not his Revenue since the client was not charged for it. 

Finally, we found that although John's pay rate is 60% for primary services, it's actually 70% for extra pet fees. $24 in extra pet fees were charged to clients for the events on John's user invoice.

To put this all together, $953 Revenue + $147 discount - $24 extra pet fees = $1076 that John is paid 60% of for a total of $645.60. He is paid 70% of the $24 in extra pet fees for a total of $16.80. Finally, we can add in the $7.25 he was paid for the "Meet & Greet" that wasn't charged to the client. $645.60 + $16.80 + $7.25 = $669.65, John's user invoice total.

Revenue vs. Payments

A customer was looking at the Revenue Over Time and Payments - Applied reports for July 2022. Revenue Over Time showed a total of $10,335.00 and Payments - Applied showed a total of $12,443.53. Why is there a $2,108.53 discrepancy?

Using the descriptions of each report, we know that Revenue Over Time is the total charged to clients for all primary services, add-on services, extra fees, packages, and custom line items and is based on the dates of the line items and does not include tips or taxes, nor does it consider whether or not an invoice has been paid for; whereas the Payments - Applied report is a total of payments that are applied to invoices and is based on the date of the payment. This means that for this example, the Payments - Applied report is including all payments that are dated between July 1st and July 31st, regardless of what the dates are on the line items within the invoices they are applied to, while the Revenue Over Time report is looking at the line items on an all invoices dated July 1st - 31st.

To dive into the actual discrepancy to exemplify this, we can look at the invoices listed on the Payments - Applied Report:

In this example, the very first invoice on the list had a $200 payment applied to it that was dated July 1st, and all of the events within that invoice had dates between June 7th and June 29th. There was also $9 in taxes and an $11 tip added:

For this invoice, we can see that $180 would be counted as Revenue for June 7 - 29, and $200 would be counted as an Applied Payment for July 1st. In other words, the $180 would not be included in the Revenue Over Time total for July 1st - 31st, but the $200 payment would be included in the Payments - Applied total for the same date range.

Another way to exemplify the discrepancy is to look at invoices with events scheduled in July on an invoice with a payment that was applied in a month other than July:

In the above example, we can see that $360 would be included in July's Revenue Over Time total, but the $378 payment would not be included in July's Payments - Applied total since it is dated August 5th.

Pay Stub/Invoice vs. Tip Report

A customer was previewing pay stub totals for the October 1st - 15th pay period, as well as the Tip Report (filtered by invoice due date) for the same date range. The total tips calculated to pay out on pay stubs was $362.82, and the Tip Report showed a total of $381.62. Why was there a discrepancy of $18.80?

When pay stubs/user invoices are generated, the tips available in a staff member's tip balance are automatically added to the pay stub by default. The tips the customer was looking at when previewing the pay stubs was the total currently available across all staff accounts. As a reminder, tip balances are the total of all tips that have been disbursed to a staff member minus what has already been paid out to them on a previous pay stub. Once tips have been disbursed to staff, their tip balance no longer considers the date or due date of the client invoice it came from, nor does it consider the date of any events on the invoice it came from. It is simply the accumulation of tips that have been disbursed and are waiting to be included on a pay stub.

The Tip Report on the other hand, when filtered by invoice due date, gives a total of all tips that have been disbursed from a client invoice with a due date between the specified dates, in this case, October 1st - 15th. The total does not take into consideration whether or not the tips have already been paid out to staff on a pay stub. 

For a more specific breakdown of the discrepancy in this case, we were able to look at two staff members: "Staff A" and "Staff B". 

Staff A showed $40 in tips when previewing the pay stub but $50.40 on the Tip Report. Looking at the staff member's Tip Balance Sheet, this is because there was a tip of $10.40 from a client invoice that was due on October 2nd but was previously disbursed to the staff member and paid out on the paystub for the previous pay period. So, the $10.40 was no longer in the staff member's available tip balance but was included in the Tip Report because it was a tip on a client invoice that had a due date between October 1st and 15th.

Similarly, Staff B showed $0 when previewing the pay stub but showed $8.40 on the Tip Report. Again, this is because there was a tip of $8.40 that came from a client invoice that was due on October 2nd but had already been disbursed and paid out on the prior pay period's pay stub. So, the $8.40 was no longer in the staff member's available tip balance but was included in the Tip Report because it was a tip on a client invoice that had a due date between October 1st and 15th.

Invoice List vs. TTP Payments: Payouts Tab

A customer was looking at the "Paid" total on the Invoice List and the "Processed" total on the Payouts Tab of the Time To Pet Payments Dashboard. The Paid total on the Invoice List showed $1,007,440.80, and the Processed total in the Time To Pet Payments Dashboard showed a total of $796,943.17. Why was there a $210,497.63 discrepancy?

Looking at the descriptions of each set of data, we know that the Paid total on the Invoice List is looking at the total amount of payments applied to invoices that are paid in full, whereas the Processed total on the Time To Pet Payments Dashboard is looking at the total gross payments processed by Time To Pet Payments that were included in a payout. This means that the total shown in the Invoice List are including not only credit card and ACH payments that were processed by Time To Pet Payments, but also includes manual payments and credits as well.

Understanding Instant Payout Reporting

When connected to Time To Pet Payments, companies have the option to receive payouts right away using the Instant Payout feature. When Instant Payouts are initiated, the payout reporting will not include the payment details when "Full Report" is clicked. Instead you will see the following:

Payments connected to Instant Payouts are reconciled on the next regular payout that is initiated. Regular payouts occur when Stripe automatically initiates the payout and it is deposited to your linked card or bank account. When Instant Payout data is included with the full payout report, you may see a higher fee total in comparison to the amount being paid out. This is because the fee total is accounting for the fees on the payments that were sent through the instant payout. That being said, these fees are not being deducted a second time.

When viewing full payout report that accounts for an Instant Payout, there will be line items for "Payout Fee/Misc Fee" and "Pending/In Transit Payout". Above these line items will be the payments that were deposited through a previous Instant Payout.