Five Ways to Increase Your Youth Sports Payment Collection
March 7, 2023
Collecting money is no simple task for any business operator, and youth sports administrators are no exception. Nonetheless, payment collection play an important role throughout the lifecycle of a sports program.
There are concrete ways you can increase your payment collection, and the right youth sports software plays a huge role in that.
LeagueApps includes features that are flexible for handling a wide range of scenarios, including club teams. Additionally, LeagueApps Gateway is the native payment solution that makes it easier for ourpartners to collect and manage payments online, all in one platform.
LeagueApps’ payment collection tools are designed to make payment collection easier for you and your customers. Here are 5 ways you can increase payment collection using LeagueApps:
Offer Flexible Payment Options
Enhance the participant experience with one time fees, early bird, late fees, discount codes, and payment plans. Also, offer the option for parents and athletes to pay either using a card or their bank account (ACH)—and you’ll have the ability to process refunds digitally for either. As a LeagueApps Admin, you can also use advanced registration settings to control your payment collection—strictly enforcing payment at the time of registration, or the ability to pay later. You can also require that all outstanding invoices are paid before a new registration is completed. This is an effective way to clear out your customers’ outstanding balances from the previous season. Drive that Accounts Receivable number down!
Set Up Stored Credit Cards And Auto Pay
LeagueApps allows users to store a credit card, so they don’t have to enter their credit card number every time they check out. If a user is enrolling in a payment plan, they can opt into Auto Pay so all upcoming installments are automatically paid using the stored credit card. The user doesn’t have to log in each time payment is due, and the card is securely stored. This tool also makes it easier for you to forecast transactions and track payment collection each month.
LeagueApps’ expansive suite of reports offers detailed insights into your organization and program’s financials—like transactions, bank transfers, total and net amount collected, and payment plan activity. This makes it easier to manage cash flow and monitor paid vs outstanding invoices for a program. LeagueApps also has a variety of Admin Roles, so you can even give your accountant or treasurer special access to financials.
Easily Managed Invoices
Throughout a season, add-on expenses come up, in addition to player registration fees. For pay-based programs, LeagueApps will automatically create invoices for each registration. You can then use the management console to view all player invoices, track member payment status, amount due, amount paid, and more. These are the actions you can take using LeagueApps Management Console:
- Adjust invoice amount
- Issue partial or full refunds
- Issue credits
- View payment plan details
- Send payment reminders
- Add offline payments
Issuing credits is a smart alternative to issuing refunds because it incentivizes customers to sign up for future programs and increases retention. If a customer gets injured or has a family commitment and cannot attend an upcoming program, you can issue a credit for them to apply to a future program.