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We lowered the Reserve Holdbacks to 0% effective today. This is a very happy day and another sign of recovery in our endurance community. As you may recall we always had a normal 0% holdback (meaning we pay out when people signup), but instituted a 20% holdback at the beginning of the Pandemic. We have […]
GiveSignup | RunSignup offers event organizers the opportunity to receive event proceeds by ACH or by check. Our preferred payment method is by ACH, but we do offer payment by check and we will continue to do so. However, check payments are expensive to make and they become even more expensive if they are lost […]
There is now a full reconciliation summary report for each funds transfer at the payment account level. Transactions, sales tax remitted by GiveSignup | RunSignup, refunds, holdbacks, and adjustments are broken down by line item in a summary table. You are able to easily download each line item for a report across all of your […]
We are releasing a new Voucher system that allows races to create vouchers that participants can use as a credit when they sign up for an event. For example, you might give Allison a voucher for $30 that she can use on any of your events. In the example on the right, she signs up […]
You can now download a detailed report of all transactions per funds transfer from your payment account. Each individual transaction includes payee information, amount paid, fees, funds transfer amount, entity (i.e. donation website, race, ticket, etc.), and type of transaction (i.e. registration, donation, purchase). This is the first release of a larger update to give […]
Note: On November 2, 2021 we reduced this to 2.5% We are pleased to announce that our standard race reserve requirement is dropping to 5% from 10%, with a payment account requirement of 2.5% of race registration transactions. Donations continue to have no reserve requirements and are paid out directly. Note the reserve requirement can […]
We are happy to announce that we are dropping our standard race reserve requirement from 20% to 10%, and the overall payment account reserve requirement from 10% to 5% effective immediately. You should see these new numbers appear in the various race financial reports and payment account reports. This drop is due to analyzing the […]
Races have a Financial Summary page that has drawn more attention than usual. Let’s take a look at a simple use case to understand the basics. We will also take a look at the Payment Account, which is where you can see your estimated next payment. Transactions: $62,836.27 – This line is the total transactions […]
Being the open company we are, we do not express political points of view, and we respect a diverse set of beliefs among our employees, partners and customers. We also say “No” to events and donation websites on RunSignup and GiveSignup that are for the benefit of a political organization. This means that 527 Groups, […]
Believe it or not, sales tax is even more complicated than the above graphic with nearly 10,000 total jurisdictions and different rules for races, memberships, nonprofit events, and merchandise across those jurisdictions. About a year ago the US Supreme Court struck down a 1992 landmark decision (Quill Corporation vs. North Dakota) that had previously barred […]
Our Processor for Advanced Payment accounts (Vantiv, now Worldpay) had an incident impacting transaction settlement and the funding instruction reports for Tuesday 11/27/2018 that resulted in us being unable to execute funding instructions for transactions processed on that date. This caused a skipped payment on 11/28/2018 for daily payment customers. Payments resumed as normal on […]
As we have talked about in the past, one of the real concerns for our market is the cancellation of races and race management companies going out of business. Final Kick Events just posted this blog saying: Final Kick Events is shutting down. This was not an easy or simple decision to make. I have […]
Yesterday the US Supreme Court struck down a 1992 landmark decision (Quill Corporation vs. North Dakota) that had previously barred states from seeking sales tax from businesses unless they have a physical presence in the state. The 1992 decision had allowed online ecommerce businesses to thrive by not having to comply with the myriad and […]
As part of our ongoing efforts to improve our financial and security processes, we are instituting additional controls on new payment accounts. This involves collecting additional information on owners and requiring information be entered by individuals with significant control over the entity. As we have discussed, we are part of the banking network, and require […]
As we wrote about last month we have seen more races cancelled in the past year by operators who have had financial difficulties or just decided it was easier to walk away from the responsibility of the race. We also continue to guard against fraudsters who want to use our site illegally. Without proper safeguards […]
We do a US Registration Market Analysis every 6 months: September 2015 March, 2016 September, 2016 March, 2017 September, 2018 We try to make it better with your feedback (so feel free to send suggestions or corrections to bob.bickel at runsignup.com). We do this as part of our own internal market evaluation processes, but share […]
We have introduced the ability for races and timers to agree to increase the processing fee on transactions, and for that extra fee to be paid directly to the timer. This allows timers and races to pass along some of the cost of timing a race to participants in the processing fee. This is very […]
For partners who have multiple races, we have a nice new report that shows the amount per race per month. This report is a button on your Payment Account page:
The closing of RaceIt in November may prove to be the canary in the mine for registration companies in the declining race registration business. There are now rumors of another failing registration company, and there could be more coming. The real harm comes to the races, with a number of fairly large races being owed […]
As a Payment Facilitator, we have a responsibility to the banking industry and the credit card networks to do background checks on any race who is processing money thru our site. This is to try to prevent things like money laundering, or bad businesses who will not fulfill the obligations of what they are selling […]
We discovered a small bug in our software that has affected races using Braintree Marketplace for payment, who also have Charities setup to get paid directly, where the Charity is paying the processing fee. This affected: 19 races out of the 29,000 races held since this bug was introduced 460 Transactions out of the 5,376,000 […]
There was a recent article on Bloomberg News suggesting that the next financial crisis could start in Silicon Valley and “Fintech”. Fintech is a broad term, but touches all races who use online registration with the movement of over $1 Billion per year thru the 100 or so race registration systems. Here are some of […]
Over the next few days, we’ll be sharing a host of resources from our 3rd annual RunSignUp Symposium. First up: some blog links to features you may have missed. Even our most advanced users often have a hard time keeping up with all our updates (2,000+ in 2015); RunSignUp Sales Lead Bryan Jenkins picked a […]
The current ratio is a liquidity ratio that measures a company’s ability to pay off its short-term liabilities with its current assets. In simple terms how much money the registration company has in the bank vs. what they owe races. It is calculated by dividing current assets (cash and accounts or race payments receivable) on […]
We have done a major overhaul on our Financial Reports. The Summary page now gives a quick overview with 3 tabs to drill down on: Transactions – these are focused on the individual transactions that have been processed on behalf of your race. Payments – These are a list of all the payments that have […]
A common financial question we get is that some reports don’t seem to reconcile with one another. In particular, that some participant or transaction reports don’t reconcile with payment reports. There is a reason for this. Payments follow a settlement calendar that is dictated by the banks and credit card processing companies. Settlements typically cut […]
We have done a refresh of our Financial Summary page as well as a number of the reports and spreadsheets that you can download. The result is a simpler and more consistent way to see your financial information and drill down on items you care about. The Financial Summary page at the right has a […]
You may have noticed a new button on the Financial Summary page on your dashboard (we will be redesigning that page soon to consolidate all the reporting options). It is labeled “View Detailed Summary”. The report below shows an example of a race with many different options like registration, coupons, store items, add-ons, donations, etc. […]
New York has started asking races to pay sales tax on store items like extra shirts and jackets that are sold as part of a race (this does not include taxing registration or the typical free shirt that comes as part of the registration). The sales tax calculation is quite complicated – a different rate […]
Under your Profile, you can access a Race Payments report that shows all of the payments that have gone to any race that you have access to as a race director. This report shows both Direct Payments and Manual Payments sorted by date. You can drill down into each specific payment to see details for […]
For our customers with multiple races that should accumulate into a single bank account, you can now use Direct Payments to set up a default for future races you create to automatically go into this same account. Another nice little feature.
We have added a simple Invoice System to allow race directors to send invoices to sponsors and anyone that needs to pay the race. An email is automatically sent and they can make payment via online payment thru RunSignUp or via offline. The setup is simple – just enter in your instructions for making OffLine […]
When a donor receives something of value in return for their donation, that value is typically subtracted from the value of the donation. For example, if a race fee is $25 and the runner gets a shirt and other goods and services such as timing, then there may be $12 of value received. This means […]
We see more and more races having to collet taxes on their races or add-on items. We provide a number of mechanisms for races to collect Sales Tax – either on add-on items, store items, or registration fees. For Registration Fees, go to the Financial Tab and Extra Fees sub-tab. You can set any combination […]
We have lowered our Refund Processing fee to $1 (from $2). This makes it very economical for races to issue refunds directly to a customer’s credit card with the click of a button. For races that enable runners to receive refunds, you can still set whatever fee on top of this that you require. The […]
In the next week, we will be mailing 1099K forms to some of our customers. As stated in http://www.irs.gov/uac/General-FAQs-on-New-Payment-Card-Reporting-Requirements, these are informational forms that are required by the government.  The form looks like the one on the right. Note that RunSignUp is our company’s trade name – our legal name is Bickel Advisory Services, LLC. Internal […]
After some more feedback from races, we have created a great new report for each Direct Payment to you bank. You can now download a Excel spreadsheet for that payment. Â In the first tab it contains a summary as shown below. Â The second tab has all of the individual transactions. Â If there are multiple races, […]
This manual describes How To set up your payment options. RunSignUp Payment Details Manual
One of the major features of RunSignUp is the ability for us to have Partners who help race directors with using the system. Our biggest set of partners are Timers, who use us for multiple races and enjoy the ability for them and the race director to collaboratively work on the race. This means things […]
The Financial Summary page contains both a high level snapshot of the finances for your race, as well as a number of ways to drill down into the data. Â We also try to provide Spreadsheet downloads that are helpful for reconciling. This blog post will cover everything from top to bottom. Here is a video, […]
Our new Direct Payments system has become the preferred method for race payments.  It gets the money into your bank account quicker, is more automated, and it is the direction the credit card industry is guiding the online registration business. See RunSignUp Payment Details for full instructions on how to set this up for your race […]
This is one of our favorite features and should help the folks who have to reconcile all the financial reports for a race or club. You can download an Excel Spreadsheet of all of your payments nicely summarized. Each payment is on a row and each column has the details like race fees, donations, processing […]
When you are looking at your Financial summaries and payment summaries from previous periods you may note a couple of anomalies. One of the reasons may be that we changed the date range for payments being made about a year ago – so some reports may show a payment should have been made in week […]
With the recent release of the new Financial System, we have made a number of enhancements to the Donations Reports. Simplified Summary Simplified Multi-Charity Report Analysis of donation range Powerful Searching Comprehensive Reporting CSV Download Now it is simple to create reports to the multiple charities your race may be helping to raise money for […]
We have put up the new Financial system for beta test at https://test4.runsignup.com. The data is a few days old now, but you should be able to login with your regular username and password and see your Financial Summary, past payments, etc – only with the new interface. We want to get as much feedback as […]
This release happened in 2013. The new Financial system we plan on releasing in the next week or two provides Race Directors a whole new level of ease of use and data visibility. Â The new system will be up on our Test server (https://test.runsignup.com) with relatively current data next week – we encourage everyone to […]
We typically get all excited about features related to races or clubs, like making bib labels easy or enabling corporate teams. But we have a very, very big release coming up in the next month or so that we want to let everyone know about that will provide a huge update to our financial system. […]
Add-Ons are treated as a separate type of item in RunSignUp Financial Reports. That is the $144 item on the right. Also, note that Add-Ons are non-refundable (unlike Store items). Â This is one of the attractive things about Add-Ons from a race director’s perspective. Race Directors can allow runners to modify their Add-Ons (set this […]
We recently updated our Credit Card Validation. Â This means if a runner enters an incorrect number of digits or they do not conform to the industry standard Luhn check, we can give them an error message quicker. One of the cool little tricks we added is to highlight which credit card is being entered based […]
We have upgraded the Coupon Code capabilities! Â As usual, it is all now mobile friendly with the responsive design. Â The design is a bit simpler for people to understand and set up coupons. The big new feature is better reporting. Â You can now see a summary of how many coupons of each type have been […]
