10 Shared Workspace Reports to Run Every Week or Month
There’s an old adage that you can’t improve what you can’t measure. For shared workspace operators, running reports to gather information about your space is essential. Reports help you assess where you are, where you need to be, and what steps are needed to get there.
Satellite Deskworks makes running shared workspace reports quick and easy. You can spend less time at the computer and more time in your space. Here are 10 reports space operators should run every week or every month.
Weekly Shared Workspace Reports
1. Accounts Receivable
Every week you should look at a detailed Accounts Receivable report. Then, during the week, work to get those funds collected. You may even consider running an Accounts Receivable report daily to stay on top of things. Satellite Deskworks keeps your AR in front of you right on your Dashboard, in real time.
2. Availability Report
An Availability Report is a report of available full-time offerings, such as offices, dedicated desks, workstations and open coworking memberships. Run an Availability Report every week to make sure your offerings are updated and accurate. This way, anyone on your team can see what’s available and who is in the space.
Satellite Deskworks automatically updates when offerings become available or vacancies are filled. The software also shows you the dollar value of your full-time occupied space, and the dollar value of your vacant space.
3. Income Report
An Income Report shows you where your revenue is coming from. It’s useful to look at this report once a week to make sure it’s accurate. Satellite Deskworks shows you your income in real time right on your dashboard and lets you easily click through to a full report for more details.
4. Deposit Report
A Deposit Report ties the money you can see going into your bank account to what your software says should have gone into your account. For instance, your bank account shows you a deposit amount, but it lumps the deposit amounts into Visa, MasterCard, American Express, etc. These amounts, however, are actually made up of numerous individual transactions.
Satellite Deskworks shows you all the individual transactions totaled to the single deposit you see in your bank account. You don’t have to assume everything is correct within those bulk sums because you can see if it’s correct. If the two figures match, you’re done.
The software also gives you a breakdown of transactions made by cash and check. Note: Sometimes the figures don’t match because credit cards have different daily cutoff times, and some transactions may post on the following day. Deskworks lets you set your Credit Card Cutoff time, so that transactions show the same way they do from your bank.
Monthly Shared Workspace Reports
5. Membership Report
A Membership Report shows you who is still an active member in your shared workspace. Run a Membership Report every month to make sure no one is still listed as a member who should have been made inactive. You can also pull a Membership Report by Start Date to see your trajectory of growth of membership.
6. Recurring Billings Report
Related to the Membership Report is the Recurring Billings Report. Run both reports in an order you can match up—we suggest pulling the information by company name. Compare the two and if someone is on your member list but not on the Recurring Billing report, it’s a good indication they should be removed as a member.
Make sure your Recurring Billings Report is accurate. Do you think someone has a plan that you’re not charging them for? Are they getting an additional recurring service or storage or mailbox that isn’t being billed? Are the dates for next billing correct for everyone? Satellite Deskworks lets you change the Next Bill Date if someone pays for a month or two in advance.
7. Income by Item Report
An Income by Item report shows you your income grouped by products, telling you what is selling and what is not. This report should give you a good idea of which offerings you want to increase, which offerings may need more promotion, and which ones you may want to stop selling altogether.
The Satellite Deskworks Income by Item report shows you how much revenue you make with virtual mail, printing, private offices, open coworking, workstations, dedicated desks and more. You can also see how much you’re generating from daily use offerings, including conference room rentals and day passes.
8. Accounts Receivable
In addition to checking your Accounts Receivable every week, you should also run an Accounts Receivable report at the end of every month. Make sure all receivables are cleared for the month and that any issues are taken care of.
9. Mailbox Report
Tracking mailboxes can be a pain for shared workspace operators. Be sure you pull a report at least monthly showing name, company, mailbox number, etc. Satellite Deskworks simplifies tracking mailbox usage and presents the data in real time so you know which boxes are available and how to handle the mail — whether you’re simply collecting it, sending it to the client, or forwarding it to another address. It also shows you any additional names that might receive mail in each box and lets you sort the information by any of these fields.
ProTip: Print a Mailbox Report and hang it behind your mailboxes, so community managers can see, at-a-glance, how to handle each client’s mail as they’re sorting it into boxes. We print the report by company, by box number and by individual name, so it’s always easy to get things where they belong. The report should not, of course, be visible to anyone but the person putting the mail in the boxes.
10. Credit Balance Report
A Credit Balance Report shows you any accounts that have credit remaining on them. Run this report to double-check that any credit is accurate and that there are no errors around proration or other charges.
End of Year Reports
Avoid an end-of-year reporting crunch. If you’ve been running these weekly and monthly reports consistently throughout the year, there are no other reports you need to run to tie things up at the end of each quarter and the end of the year!