Use the checklist below to complete everything you need to ensure your chapter’s account is up-to-date.
End of Semester Items:
File Your Form 990
- Every year, your chapter must file a form 990 with the IRS. Pull reports from Vault that are needed to file, and submit your information as soon as possible to ensure your 990 is on time.
- Use our Tax Resource Center to get started!
Review & Update Member Balances
- Check your billing cycles and make sure you add any miscellaneous charges, such as t-shirts or fines. If needed, make other balance adjustments before the last Bill On Date of the Billing Cycle. This ensures your members receive at least one statement with all their remaining semester charges.
- Pro Tip: Adjust multiple accounts at once using Add Transactions in Mass.
- Use the Billing Overview on Vault to ensure you do not missing anything.
Confirm New Members Were Billed Correctly
- If your new members were added after your 1st billing cycle was already sent out, check their accounts to confirm they received all charges for the semester. Add any missing charges or adjustments as needed.
Clean Up Your Roster
- Member Roster: Make sure members initiated this semester have an updated status, mark members that have disaffiliated or transferred as appropriate, and confirm all graduates are listed as Alumni.
- Member List by Billing Group: Move disaffiliated, transferred, alumni, and other inactive member statuses to Inactive Billing.
Summer Items:
Inactive Roster – Review inactive member accounts
- Archive all inactive members with a zero balance which are not in collections.
- Review inactive members with a credit balance. Refund and adjust accounts, as appropriate.
Vault Users
- Review and deactivate/archive all users who should no longer have access. Ensure all users have appropriate permissions established.
OmegFi Mail Messages
- Ensure all open messages (via the envelope icon) on Vault regarding member accounts are responded to and closed as applicable.
Set Up Summer Reminder Statements
- If you know your chapter will not charge dues this summer, set up 2 monthly Summer Reminder Statements. These billing cycles do not contain any charges, so your members will only be prompted to pay if they have past-due charges on their accounts.
- If you have late fees turned on, members will continue to receive late fees if they do not pay by the statement due dates.