On July 18th we made an update to our Direct Debit payment sequences, resulting in the payment request being submitted 3-days sooner. This change is as documented here and here, and put into place so that the date on which members are charged is less impacted by the length Direct Debit charging process.
Whilst this change has no detrimental effect to either facilities or their members, it has caused an “abortion” in the KPIs & Metrics of some clients which, without explanation, might seem a bit odd.
Some facilities were reporting that the revenue figures in their KPIs & Metrics were higher than expected.
The revenue figures are calculated based upon the financial transaction records within Quoox, which are created and date-stamped at the moment the transaction is initiated. For those members with memberships paid by Direct Debit, the payment initiation point moved 3 days sooner with this update.
A by product of this change is that, for customers who charge their members on the 1st month, the month of July therefore had payments on 1st July and 29th July (1st August minus 3 days). Whilst the actual dates the members were charged (due to the lengthy DD process) was likely closer to 5th July and 2nd August (due to the weekends), the result is that two charges were initiated in the same month.
For clarity, the actual dates the charges hit the members accounts were in different months, but were initiated in the same month (July).
This is an anomaly for July only, and will level-out going forward. The key factor is that the revenue data is based upon the charge initiation date, not the charge fulfilment date. Quoox is only aware of the former, and it is the only date under the control of Quoox.
As per the previous advisements, if any customers do wish to revert to the previous timings, this option is available. Please reach out to the support team, who will be happy to help.
We trust that the above explains the (apparent) anomaly, and reassures you that there is no cause for concern.
Chris Windram | Co-Founder
a: Quoox Ltd. | Innovation Centre | Knowledge Gateway | Colchester | CO4 3ZQ | United Kingdom