Speed up payroll with the Combined Payroll report
Eliminate the need to pull 3 or more separate payroll reports to pay your employees by using Momence new Combined Payroll report.
This report is especially time saving if your employees teach classes, appointments and/or also happen to clock in.
To view it, click Analytics > Reports > scroll to the Staff Payroll section > click Combined Payroll.
Its columns include Gross Revenue, Teacher Payout, # of Classes, # of Appointments, Appointments in Hours, and Hours Clocked In.
Click the teacher's name for a detailed breakdown by Classes, Appointments and Clock-Ins.
Guarantee the Correctness of Payroll
Issues relating to teacher payouts/ teacher payroll.
Various factors could contribute to inaccuracies in your teacher payout. This article aims to highlight some of these factors and provide guidance on rectifying any errors.
Typical Questions
What if my teacher payroll is showing "0" as the payout?
If the teacher payout shows "0" for a specific class or appointment, it's possible that no pay rate has been established for the teacher in that particular event.
How to correct this for classes:
Click on the class name from the teacher payroll report with the 0 payout (this will open up the selected class in a new tab)
Click on Actions> Edit this class
Under the This is a past class section, click on the Edit past class button
Toggle On the Set a pay rate for this class > Select Pay rate from drop-down > Click Submit
Once the payroll report is refreshed, the correct value will be added to the payout
How to correct this for appointments:
Go to the Appointment schedule and open up the reservation with the payout showing "0"
Appointments> Schedule> Select the correct Date from the calendar picker
Open the appointment reservation and click on the Edit button
Select the appropriate Pay rate from the drop-down and click Save changes
Once payroll report is refreshed, the correct value will be added t the payout
What if my teacher has the incorrect payout?
If you notice that the payout amount in your payroll reports is incorrect, it's possible that the pay rate has been set up incorrectly. It's important to review the pay rate for accuracy and make any necessary adjustments to ensure that everyone is paid correctly.
If you want to ensure that teachers are compensated for their time even if no attendees show up to their event, you can set their rate using the Base Rate option located in the Basic Settings section.
This example above states that regardless if there are no students in a class, the teacher will be paid $35 for the class with this pay rate
If you only want teachers to be paid out if there are attendees in the event, leave the base rate section empty and instead use the Flat rate by # of customers and enter the following:
Once the number of event attendees is "1" and above, the teacher receives
$ ____
In this example above, the pay rate stated that teachers should only get paid $35 dollars if there are attendees in the class
NOTE: If you want teachers to be paid for late cancels, ensure the Include customers who have late cancelled toggle is On
Why is my teacher not getting paid late canceled appointments?
If a customer has late canceled their appointment, it's important to ensure that the late canceled appointment is marked as paid to ensure teachers are still getting paid for the appointment.
NOTE: Even if the pay rate toggle Include customers who have late cancelled is turned On, it will not payout the teacher unless the late canceled appointment is paid for.
Late canceled appointment will appear in the report because it has been paid for; otherwise the appointment will not appear on the report.
How are Revenue and Profitability calculated for a class? What about when a subscription is used register?
How is a class’s Profitability calculated?
By looking at the class’s Earned Revenue minus the Teacher’s Payout for that class. (both will show on the class details page)
How is the Earned Revenue calculated?
From drop-in payments and subscriptions used to register for the class.
How is Earned Revenue calculated when Subscriptions and Packs are used?
With Limited Use Memberships (and Packages), if you have a $100 subscription (or package) of 10 credits, each credit is worth $10.
So even if the drop-in price of the class is $25, when a customer uses this subscription or pack to book a spot in that class, the earned revenue from this individual booking is always going to be $10.
With an Unlimited Membership, earned revenue is calculated as the renewal price paid for the membership divided by the current number of bookings in this renewal. In other words, as more bookings occur, this figure will continue to divide down by the number of bookings.
Important: with unlimited memberships, earned revenue is calculated as the lesser of two options:
a) either the classes' drop-in price (ex. $25); or
b) the customer's membership renewal price divided by the customer's current usage: (ex. $250 a month divided by 8 = $31.25).
Here are 2 Examples
1) In the case above, the earned revenue for this customer's booking of this class is calculated as the drop-in price of $25. This is because $25 is less than $31.25.
2) But what if a client is on their 11th class (250/11 = $22.73)? Since $22.73 is less than the drop-in price of $25, earned revenue for this class booking is calculated as $22.73.
Where can I see which pay rate is assigned to a class and how that pay rate works?
To view the pay rate assigned, from the class’s Details page, click Actions > Edit this class > scroll to Studio Settings.
To look at how each pay rate works, click Studio Setup > Pay Rates. To learn more about Pay Rates here.
An ROI Calculator for Facebook & Instagram Ads
The Facebook/Instagram Ad ROI (Return on Investment) Calculator calculates the difference between the amount you spent on an advertisement and the amount of revenue you’ve received from the customers who came in from that ad.
It helps determine if the results of the ads are worth the cost, and to see which ads are getting the most traction & results.
Things to know before setting this up:
The calculator will work for Facebook and Instagram paid ads only.
You must have your Facebook business account connected to your Momence Leads app for calculations to pull.
The report will generate results for ads run from now onward.
Here's how to get your account connected. After connecting, use the report by clicking: Analytics > Reports > Facebook/Instagram Ad ROI Calculator.
The report will show columns for spend, revenue, and ROI.
Class Profitability Meter & Updates to Location Reporting
We understand that an everyday focus as a business owner is understanding your profitability and looking for what’s working and what’s not. Having this data is important so that you can make the needed adjustments and updates to continue your success.
We strive to make useful metrics as clear and easily accessible as possible so that you can maximize your time spent rocking your craft, which is why we created the Profitability meter within your class pages. This is the first step in more updates that will give you a clearer picture of your profit margins.
You will now find a section called Profit margin within any of your class or event pages, which details the Earned revenue* for the class, the Instructor payout and the Profit margin in both percentage and dollar format. This way you can easily see if you are making a profit or not for a particular class, helping you to determine where changes to your schedule might be needed.
*Note for unlimited memberships: earned revenue will calculate the price a student paid for class based on the price of their membership divided by number of classes they have attended in that renewal.
Note: Profit margin is default to only be visible to admins, and you can adjust who;/s able to view it under Settings > Roles).
The Profitability meter is also linked to your Recurring class attendance analysis report. When you click on the meter line, you will be brought directly to this report, which shows you an zoomed out picture of how certain class types/times are doing.
On this report you can see the average revenue, average capacity filled, total and average number of visits and more over a selected date range. The report lists data for all of your classes side by side, so you can easily compare the success of scheduled times, class types and teachers to make educated decisions about what needs adjustments, extra marketing efforts, etc!
Location Reporting Upgrade 📍
Do you have multiple locations for your business? We just made a few updates that will make reporting a breeze…
Within the POS, you will now notice that you and your staff have the ability to select which location you are selling from anytime you make a sale. This - plus enabling customer home locations - allows the system to understand where every single sale is coming from, so that any cash-based report (think your total sales report) can be easily pulled based on location. This new update creates more cohesion, eliminating the need for a home location filter as now all sales will be linked to the select a location filter.
Here’s how sales are attributed to a specific location:
All sales made through the POS at that specific location
All online purchases by customers with the location set as their home location
P.S. this is why we have been asking you to note locations vs. rooms on your account - so the system can differentiate between actual physical locations & rooms within those locations!
Have staff members who only work at one of your business locations? Reminder that they can set their default location so that they don’t have to select where they are each time they process a sale!
Favoriting reports
You can now mark your favorite reports for easy access to the data that matters most to you. Favoriting a report puts it at the top of your Reports page under its own special section.
Simply click the star icon next to any report you want to add to your favorites list.
To get started, click Analytics > Reports > start favoriting.
You'll now see your favorites at the top going forward.
Ensuring Teachers are Not Included in Payroll
Are there studio classes that some teachers attend, but their attendance shouldn't count for payroll purposes?
This article will explain how teachers can sign up for studio classes without being counted towards payroll.
To achieve this, we need to create a separate subscription only available to teachers. We will ensure that a critical toggle within the subscription settings is enabled. This toggle will ensure that anyone with this membership activated does not count towards revenue earned for teacher payroll.
Creating a Teacher Subscription/Membership
Click in Memberships
Click on Subscriptions/packs
Under the Subscriptions tab click on + Add new
Include the teacher subscription details (price, renewal interval, included classes etc.)
Ensure the toggle "Counts as non-paid for teacher payroll" is ON under Payment settings
Click Create
This new membership option allows teachers and instructors to book classes without being counted as actual members for payroll purposes.
Why does the Total Sales Report filter out sales paid by money credits?
Money Credits are store credit. They've already been paid for, and aren't considered new revenue. Customers can buy them in a POS transaction to use later on, much like a gift card.
Within the Total Sales Report, the default filter setting is to remove all sales paid for with money credits. This is to avoid double reporting revenue. For example, if someone buys $20 of money credits, then spends those credits on a class worth $20, reporting both transactions would total $40.
This default filter removes all transactions where a customer used money credits to purchase other things like class bookings or memberships.
How to save your payroll reports as PDFs outside of Momence
Momence does not currently have a pdf option. But you can download payroll reports (and others), open them with a spreadsheet app like Excel, Numbers, or Sheets, and save them as PDFs.
To see your options > download the file from the reports page your on in Momence.
Open your downloads folder and right click the file > then click 'Open with'. Here's how it looks on a mac. It should be similar on a PC.
Within each app, there should be a PDF option. For instance, in the Numbers app, use File > Export To > PDF.
Email Notifications for larger reports
Sometimes the need arrises to run a report that asks for a lot of data -- enough that it can take some time to gather it all.
Momence will now notify you by email when a report has finished loading. So rather than twiddling your thumbs, you can now move on to the next task at hand.
If the report you're requesting is large enough to warrant an email notification, you'll see a pop up to be notified. When its done, an email with a link to the loaded report will arrive, taking you right to where you left off.