Eventact Financial Documents

November 14, 2024 | 3 min read

Eventact offers a flexible platform for event organizers to efficiently generate and manage financial documents. By automating the creation of invoices, receipts, and other financial documents, Eventact helps streamline administrative tasks and comply with tax and accounting regulations.

This guide provides instructions on how to set up Eventact to produce financial documents (invoices, receipts, etc.) and meet diverse accounting standards, organizational requirements, and regulatory compliance.

How it works:

Key Document Types

1. Invoices: Provides a detailed breakdown of event registration charges, including ticket prices, taxes, and payment methods.
2. Receipts: Confirms payment received, detailing the amount, date, and payment method.
3. Invoice-Receipt: Combines invoice and receipt information into a single document.

Alternative Document Types

Eventact adapts to various accounting procedures and regulatory standards. To this end, Eventact allows organizers to select the types of documents appropriate for the organization managing the event.

Alternative document types:

• Tax Invoice and Receipts: A formal document listing services, costs, and owed amounts, compliant with tax regulations.
• Bill: A less formal document suitable for internal record-keeping. Not typically used for tax purposes. Organizers may opt to send a bill instead of an invoice in cases where their accounting practice requires them to create an invoice in their accounting system for tax purposes and record-keeping.
• Invoice No Tax: This document explicitly states that it cannot be used for tax returns or that no taxes are being charged.
• Donation Receipt: Commonly used by non-profit organizations, community organizations, and charities to acknowledge receipt of funds. In many countries, donation receipts allow donors to claim tax deductions.

Document Features and Customization Options

• PDF Format: Digitally signed to prevent unauthorized modifications, ensuring compliance with tax authorities.
• Branding: Customize documents with your organization's banner and event-specific banner.
• Content: Beyond purchase details, organizers can add additional information such as custom attendee details and event information.
• Multi-Currency Support: Accommodate various currencies for international events, including support for using multiple currencies.
• Payer Details: Format and select attendee details and addresses to display on the invoice.
• Windowed Envelope Optimization: Optimize document layout for efficient mailing.
• Serial Numbers: Include serial numbers for tracking and compliance.

Key Benefits:

• Professionalism: Enhance attendee experience with branded, well-formatted documents.
• Transparency: Foster trust through clear financial records.
• Efficiency: Save time with automated processes.
• Compliance: Adhere to local tax and accounting regulations.
• Convenience: Easily keep and retrieve digital documents for future use.

Setting Up Financial Documents in Eventact

Company Level Settings

Navigate to the Payments section under the company settings menu to configure:

• Templates: Customize the design and layout.
• Default Details: Set organization names, titles, and formats.
• Serial Numbers: Assign initial numbering for compliance and tracking.

Document Types

Choose the appropriate document type that Eventact will create, ensuring accuracy and compliance. The selection affects the document title.

Organization Banner

Create a branded image that includes the organization's contact information and information required by tax authorities, such as the organization ID for tax purposes.

Image Specifications:

• File Format: PNG/JPG.
• Recommended Dimensions: Width: 1417 pixels at 200 DPI (approximately 180mm). Height: Adjust to leave space for event details.

Payer Details Window

This window typically includes:

• Name of the person or business responsible for the payment.
• Address to which the document is addressed.
• Organization name of the payer, if applicable.

Positioning the address box precisely is important for mailing hard copies in windowed envelopes but also for presentation as a PDF document. Adjust the placement of the window that contains details of the paying attendee.

Default Details and Notes

• Default Organization Name: Customize how your organization's name appears on each document.
• Default Payer's Details Presentation: Decide on the format for presenting the payer's name.
• Customize Recipient's Information: Use tokens like {Contact.FullName} for the recipient's full name and {Account.Organization} for the organization's name. Define alternative text for missing information.
• Default Notes: Organizers can include personalized messages in the invoice using tokens such as {Project.Title}, {Project.StartDate}, and {Registration.RegID}.

Serial Numbers

A unique serial number on each financial document that can be used for tax purposes is a common requirement by tax authorities and a basic need by accounting to track payments. Eventact uses a separate cross-event sequential numbering system for different document types. As the organizer, have the flexibility to specify the initial number for each sequence.

You can set up:

1. First Invoice Number
2. First Credit Invoice Number
3. First Receipt Number
4. First Invoice-Receipt Number
5. First Deposit Number

Setting a lower starting serial number than existing documents won't overwrite previous records. Serial numbers increment automatically based on the highest existing value.

Event-Level Customization

Event Banner:

• An event banner can be added below the header image on receipts or invoices.
• To set a banner for a specific event, go to the event-level settings and enable the banner option.
• The banner height will automatically adjust to fit the space between the header image and the top of the address box.

Summary

Eventact's financial document generation feature empowers event organizers to streamline operations and enhance customer service. For further assistance or to explore more features, please contact Eventact's support team or consult the product documentation.