Orientation for finance secretaries and bookkeepers
Funds flow seamlessly and automatically with Success Fund—easy approvals, direct deposits, and clear reporting.
This video is for School Admins
Key Topics Covered:
- Approval Process:
- Notification: Learn how you will be alerted by email when a fundraiser requires your approval.
- Verification: Check the approval status and verify that funds are set to be deposited into the correct bank account.
- Allocation Details: Add allocation IDs or account codes to ensure funds are properly categorized within your budget.
- Fund Flow Management:
- Direct Deposits: Understand how Success Fund processes payments directly into your school’s designated bank account.
- Email Notifications: Receive notifications for each new payout to stay updated on fund arrivals.
- Viewing Payouts: Access the ‘Payouts’ section to view detailed breakdowns of each deposit, including amounts and account codes used during approval.
- Reconciliation and Reporting:
- Matching Reports: Ensure your payout reports match your deposits exactly for accurate record-keeping.
- Downloadable Spreadsheets: Download detailed spreadsheets to review every transaction involved in each payout.
By utilizing the approvals and payouts features in Success Fund, you can streamline fund management with fewer paper forms and minimized in-person payments. Everything is tracked and documented in one centralized place, making it easier for finance secretaries, bookkeepers, and administrators to handle fundraiser funds efficiently.
Success Fund isn’t just great for those running the fundraiser—it’s also an invaluable tool for those managing the finances behind the scenes.
Frequently Asked Questions
Browse all FAQsCan I add multiple bank accounts?
Yes. Each district can add and manage multiple bank accounts so that each school or organization can receive its own deposits. To add a bank account select Bank Accounts on the left hand toolbar under Administration.
Will SuccessFund work with my accounting system?
Yes. Every deposit made to your bank account is accompanied by a detailed report which can be uploaded to your accounting system. These reports include account codes needed to appropriately receipt or allocate funds into the correct budgets.
How does the fundraiser approval chain work in SuccessFund?
By default, approvals can be sent to any administrator who has Approval Permissions at the school the campaign originated from. If no approver exists at the school, campaign organizers can send the approval to a district administrator.
You can set a first approver in SuccessFund, but the system does not structure the entire approval chain. This design helps ensure that faculty know whom to send their submission to initially, but subsequent routing is handled manually by administrators. For example, the Athletic Director might need to review requests related to athletics, while someone else might review requests for performing arts.
Administrators can forward requests to the next appropriate person based on your school’s specific process, and SuccessFund does not enforce a rigid approval hierarchy. This flexibility allows you to avoid managing approval chains when staff roles change and enables approvers to reassign requests if needed.
To set the first approver:
- Under the Administration tab, click on Schools.
- Select your school.
- Click on Actions and then Edit Information.
The district can configure "final approval" permissions, which determine who has the authority to finalize approvals. The final approver is anyone with the Final Approver permission configured by the district.
Additionally, the district can provide specific Approval Chain instructions for approvers under Administration > Approval Settings. This allows you to outline the process for routing approvals as needed.
How and when will we receive the money we raise?
SuccessFund will only send funds to bank accounts owned and managed by schools, districts, or an approved organization. Money is deposited on a weekly basis. Access to the funds can vary by district, but in most cases, you can put donation dollars to use immediately following the deposit. Every district follows its own use of funds process, so be sure to follow the process outlined by your district for requesting funds.
SuccessFund will aggregate contributions over a 7 day period and then initiate a transfer. Transfers take 3-5 days from when they are initiated to when the deposit arrives. Deposits will typically arrive on Fridays. On average, the time between a transaction and a deposit is 8 days. SuccessFund does not invest or utilize your funds in any way.
Campaign organizers can view the status of the funds at any time. From your campaign page, click Results, then Switch Report, to Payouts.
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