Managing your organization's finances can be a real headache, but Memberbase makes it much easier with its automated processes. Now, it's important to note that Memberbase isn't an accounting system itself or a substitute for one - we don't try to do everything under the sun. But we do have plans in our development roadmap to integrate with popular SaaS accounting systems like Xero and QuickBooks.
Now, one of the ways Memberbase helps with finances is by managing invoices generated for your members. Invoices can be generated automatically by subscriptions, or you can create them manually in just a few clicks. And the best part is, where possible, Memberbase pre-fills and auto-calculates invoice parameters, so you're not bogged down with data entry.
Memberbase has a streamlined invoicing process that revolves around products. By using products, you can manage all the information related to anything that members need to pay for in one central location. Additionally, you can easily manage pricing changes by setting prices to start at a future date. This allows for the new pricing to be automatically enabled in Memberbase when the set date arrives.
Memberbase offers integration with Stripe for card payments and GoCardless for direct debit payments. You can also send invoices to stakeholders via email or SMS directly from Memberbase, and they can pay them off. Once the invoice is paid, any associated benefits, such as renewing membership or issuing event tickets, are automatically activated in Memberbase.
In addition to invoices, Memberbase also allows you to capture other financial transactions such as discounts and credit notes for a stakeholder. By recording all financial transactions in one place, it becomes easier to manage and access this information over time.