# of Renewals – when setting up a contract this is # of Payments
Account Status – Similar to MSI – myVolo contract status:
Active - actively billing - still has future invoices/payments.
Inactive - completed contract, no Renewals/Payments left, although invoices can still be outstanding.
Cancelled/Stopped – contract has been cancelled. The action to do so is called “Terminated”. This stops the contract going forward in both MSI and myVolo. This will NOT cancel an current outstanding invoices in either myVolo or MSI. Note: some sites will say cancelled, some will say stopped.
Active Members – these are any records that have not been deactivated. No relation to anything purchased or any membership. Client manually activates or deactivates a member record from the Members tab.
Auto Renewals – Auto Renewals in myVolo refer to both the payment schedule (number of payments - see Renewals), and if a contract renews at the end of a contract. Both these options can be set under the Auto Renewals tab. There is a section for setting when the next payment is, and whether a contracts “renews at end of contract.” For any MSI contract, these settings can only be viewed an not edited. The need to be setup at the contract entry or updated in MSI after the contract is entered.
Complimentary – a specific type of contract in myVolo. This contract has no cost, and will not get sent to MSI.
Dashboard Reports – most of the reports in myVolo come from myVolo itself, but some reports come from MSI and are the same reports clients can get in MSI Billing. Month-End Financial Details; Deposit Activity; President’s Club; and the Refund Report all come from MSI.
Default Terms – in the myVolo contract setup, if a contract is set with Default Terms under the Conditions section, then it is an “in house” contract and will not get sent to MSI.
Down Payment – in the myVolo contract setup/entry, initial payment that can be pre-paid (payment goes toward upcoming payments) or applied to all payments (down payment reduces a payment amount by an even amount).
Due Today – in the myVolo contract setup/entry, total due on first invoice (this could be down payment, first month’s payment, and/or initiation fee.
Free Payments – in the myVolo contract setup/entry, number of complimentary payments
Identity – Member, Customer, Customer/Member – set when sold a contract. These match MSI. Customer=Purchased by, Member=Purchased For, Customer/Member=Member purchases contract for themselves.
Inactive Members – these are records that have been deactivated. No relation to anything purchased or cancelled. Client manually activates or deactivates a member record from the Members tab. Deactivating a member record will not cancel a contract.
Initiation Fee – Always set as Due Today, part of first invoice, initial payment on top of first month.
Invoices – invoices are created based on the payment schedule. Unlike MSI, you do not see the full list of invoices for the whole contract. They are only created at the time each payment is due. The payment schedule will show all the payments for a contract, but any future payments will not be listed as invoices yet in the Invoice History.
Member Type – setup by the client. Client creates a list in setup of Member Types and this is manually set in the profile. This is not related to a contract, identity or status.
Members – all people records in myVolo are Members (for some sites they are called Students)
MSI Terms - in the myVolo contract setup, if a contract is set with MSI Terms under the Conditions section, then it is an MSI contract and will get sent to MSI for billing.
New Members – New records added to myVolo. In myVolo a Member is any record that is in the system. A New Member is any new profile that has been entered. So an on the myVolo Dashboard, the New Members report is not new MSI members, but new profiles that have been added to myVolo.
On Account – these are products or sessions that has been completed, but not invoiced yet. myVolo allows clients to make sales and add it to a “tab” called On Account to be invoiced later, or members to check into unpaid sessions and have those invoiced later.
Ongoing – Same as in MSI. This is an open SPR contract. In the contract tab for a member profile, this will show as “unlimited” under “# of Renewals”.
Paid In Full Contract – a specific type of contract setup in myVolo. Contract must be pre-set as a PIF item. Contract paid in full up front. This account will not get sent to MSI unless the client chooses to have that payment processed by MSI.
Programs – in myVolo, these are the programs that are setup for tracking ranks and testing. Members can be in a Program for the purpose of rank tracking, but that isn’t the same as the membership type they are sold. MSI Billing uses the term Programs for membership type.
Purchased By – Customer
Purchased For – Member
Renew at End of Contract – this option sets up the auto renew for a term contract. Note: myVolo cannot setup a PIF with auto renew.
Additional Term - Client sets “Number of Renewals”. In this case, “number of renewals” means number of payments in the new term.
Convert to Ongoing - This is a Term to Open contract. Contract renews as SPR.
Renewals (# of Renewals) – these are the number of payments in contract. Each time a new payment is due in the payment schedule; this is considered a “renewal”. For each new payment, myVolo creates new sessions (based on the contract setup) and an invoice for that payment. Note: This can be confused with “Renew at End of Contract” which is what we would call an Auto Renewal. They are similar terms for two different things.
Renews Every – Payment Frequency
Taxes – myVolo sets up contracts with the pre-tax rate. If a client charges tax on services, the tax amount is added at the time of contract entry. In MSI, the total payment amount that MSI sees is the contract payment amount + taxes. MSI never adds any additional taxes to the payment.
Term – Same as in MSI. Contract with specific number of payments