Managing financial processes and outcomes can be extremely time consuming. Time is money and a commodity that needs to be valued and used effectively. Merlin Software’s comprehensive and fully integrated accounting and financial management functionality is here to save you not only time and money, but provide you with the data you need to make critical business decisions.

In this Spotlight we’ve listed just a few Merlin Software financial management tools that can assist your team as we begin to bounce back from challenges created by the Coronavirus pandemic.

If YOUR vacation ownership software is unable to provide this functionality, or if you’re relying on a third-party provider, you can find out more about Merlin Software in an online demo. Just contact the team (link to email info@quickmerlin.com) and we’ll make all the arrangements.

Importing transactions & rapid batch receipting

The import transactions functionality is used to create transactions in bulk in Merlin via an upload. Data is simply entered into an Excel template provided by the system and then uploaded directly into Merlin. The Rapid Batch receipting process allows users to create multiple receipts simultaneously and processed/linked/added to multiple debtor accounts immediately. 

What this means for you

If your employees have been furloughed and you have a backlog of work, this functionality adds a new level of efficiency and productivity. In under 30 minutes, your team can process backlogged transactions. Just contact our amazing support team for training. 

Instalments restructures & account structures

This feature allows current finance instalments to be restructured with new amounts, interest rates and dates. This is commonly used when introducing a payment holiday or debt settlement.

Member accounts that have outstanding balances which have not initially required financing can now easily be given the option to settle the account balance via instalments.

What this means for you.

Instalment restructure functionality is helpful when you need to generate revenue for the resort, but still value customer satisfaction and want to show empathy and understanding.

You can now offer existing finance clients a payment holiday simply by changing the date of an instalment into the future. In some cases, members request the frequency of the finance terms be extended on the condition that the amount being collected is adjusted. Again, this can be handled by Merlin.

Non-financed clients who were regular payers but are now struggling to settle their accounts, can be offered account balance restructuring. Not only does this support them by asking for payments they can afford at this time, it assures revenue generation for your business.

Direct Debit Mandates

Direct debit mandates are used to collect payments directly from client bank accounts to settle account balances (with their permission of course).

The mandates are created in agreement with the client and can be stopped immediately if required. The bank file, which is generated by the system according to the specifications of the bank, is uploaded to the online banking system. This allows them to process the payments for collections. The results can be imported into Merlin which updates the

Members Account balance automatically.

What this means for you.

Your clients will no longer need to worry about visiting the resort, accounts department, office or the bank to settle their accounts. It is done automatically for them. In addition to providing great customer service, there is a plus side for your business too. All client accounts and payments are managed seamlessly on one system with very little human intervention.

Sending account statements to customers

Merlin Software provides you with straight-forward and efficient way of sending account statements, via email, to your clients with a click of a button. And once set-up, our pre-created templates only need to be updated if required.

If you have clients who prefer to receive snail mail, we cater for them too. The statement format can be updated to your resort’s specification, with either detailed or summary information, which can be printed and mailed.  

What this means for you.

You can now providing excellent service delivery, in a matter of seconds, to clients who want to know their account status or balance. The normal month-end process that can take two hours plus is reduced to just 15 minutes greatly improving the efficiency and productivity of your employees.

Don’t forget, this process will reduce consumable costs for the business that are no longer required.

Financial and Ownership Reports.

Merlin Software provides you with multiple standard and customised finance and accounting reports that are available with a quick button click. You can also create your budget directly on Merlin and easily see if it is being followed.

If you are a business that operates on a cash received basis, we have reports for you too. The reports can filter to your specifications, presenting the data you only want to view. And, and if the filter does not exist, we can enhance the report to cater for your needs.

What this means for you.

Reports are essential for any business. They are required for on-the-spot analysis of the status of the company. This especially required in these demanding times when anything can change in a matter of days.

Having access to information about who owns what stock, what is available and at what price is important especially when you need to generate sales revenue. As is understanding which unnecessary costs can be removed just by looking at a single report that can be designed to your requirements.

With Merlin Software’s robust financial management reporting functionality, the task of monitoring your business operation is simplified, structured and organised. And available 24/7 from wherever you and your team are working.

The features detailed above are just an introduction to Merlin’s accounting and finance back-office module. There is so much more to share with you – which we know will assist you at this difficult time. If you’d like to find out more, our clients can contact our support team for further information. Just email us at: info@quickmerlin.com.

If you’d like to find out more about Merlin Software and our financial management module, then contact us now to arrange an online demo or email us at info@quickmerlin.com.