Arlo allows you to record fixed and variable prices for an event, and report on the total cost of the event - allowing you to see whether or not it is profitable.
The following article explains how to enable expense management and report on event expenses and performance. This process requires basic excel skills. For assistance with this please contact Arlo Support.
Note: This process is only available for customers on Professional or Enterprise plans. If you would like to upgrade, contact Arlo Sales.
In this Article
- Add Expense Fields to your Platform
- How to Record Expenses
- Report on Event Expenses
- Report on Event Performance and Establish Profitability
Add Expense Fields to your Platform
Note: This step only needs to be completed once, when initially setting this feature up for use.
- From the main menu select Settings.
- Select Fields (in the bottom right hand corner).
- Select Events.
- Add two single line of text fields to the Active fields section. Note: Learn more about adding new fields.
- Name the first field 'Fixed Expenses' - This will be used to capture fixed event expenses such as presenters, venue.
- Name the second field 'Variable Expenses' - This will be used to capture variable expenses per registrant such as training materials, catering.
- If needed, you can also add a third field for additional expenses (if you have other expenses at times that won't fall under standard fixed or variable costs).
- The fields will be added to the platform immediately, and should appear as per below.
How to Record Expenses
- When creating a new event, or editing an existing event - you can record expenses against the event on the Schedule tab of the Event Wizard.
Report on Event Expenses
- From the main menu select Reports.
- Select Event List (Advanced).
- Add conditions to return the events with expenses you would like to report on.
- Include the following fields in your report output in this order:
- Event Name
- Start Date
- Fixed Expenses
- Variable Expenses
- Additional Expenses (if included).
- Current Registration Count (This will only pull through approved registrations).
- Press Preview to display the results.
- Press Export. You can now calculate the total expenses for the event using a formula in excel.
- The formula to use is Fixed Expenses + (Variable Expenses * Registrations).
- In cell F2 enter the formula '=(C2+(D2*E2))' and press enter - This will calculate the total cost of each event. Note: If you are also using a column for additional costs, you'll need to use column G and use this formula instead '=(C2+E2+(D2*F2))'
- Drag the expense formula down the column list. You now have the total expense for each event. For example:
Report on Event Performance and Establish Profitability
- For the same event/s, run the Event Performance report.
- Ensure that the Total - orders less credits (Value) is selected as an output. Note: This field does not take into consideration order discounts applied to orders made with the event, as order discounts can be applied to orders with multiple registrations and multiple events.
- Compare the Value of orders earned against the expenses of the event to establish profitability, for example the event below was not profitable, as the costs were $835, yet it only generated $700 in paid orders.