This guide walks you through the process of submitting monthly revenue transaction reports in Insights. You will flag any inflows that shouldn't be counted as revenue for that month and submit for lender review. Once the report is accepted by both borrower and lender, the principal payment amount will be calculated for that month based on the agreed-upon revenue.
Access Program Reports
- Select your Program under the Programs section on the left navigation (e.g. "NYC Future Fund").
2. Navigate to the pencil icon next to a report that's due in order to review your revenue transactions for that month and submit them to the lender.
Review Transactions and Flag Exceptions
3. Use the flag icon next to each line item to exclude transactions from your confirmed revenue for the month.
4. Once all exceptions have been flagged, click "Confirm Revenue Transactions" to proceed to final review and submission.
Finalize Revenue Report
5. The system requires that a Reason is selected from the dropdown menu for each exception that is flagged in the report. Once you've done so, click "Continue".
NOTE: The "Additional Comments" field is optional. You may proceed with it blank.
6. Finally, you will be prompted to review your submission before finalizing it. Click "Submit" when you are ready to send it off to the lender for review.
NOTE: Upon review, lenders will have the option to either Approve or Reject your revenue report submission. If your submission is Rejected, the lender will reach out to you to determine which revenue exceptions should or should not be included.
Once an agreement has been reached, you will re-submit your report, including any corrections discussed with the lender.
7. Navigate to the pencil icon to re-submit a report that's been Rejected.
8. The reason for rejection will be identified at the top of the report. Click on the "Edit Report" button and walk through Steps 3 to 6 again to make the corrections you agreed on with your lender and re-submit.
NOTE: Once the borrower and lender have reached an agreement on the revenue report submission, the lender will approve it and the status of the report will proceed to "Accepted". Once Accepted, the revenue report is locked in the system.
9. You may use the binoculars icon to view any Accepted reports.
10. Navigate to the print icon in the upper righthand corner to print the revenue report for your records. This view will also show the Principal Payment due for that given month.