Subscription Monitoring checks your clients’ proposals using a CSV of Xero or QuickBooks costs to highlight potential missed revenue or overcharged clients.
Note: This feature requires the Pro Features add-on, head to Subscription Settings to enable Pro Features.
Getting Started
Navigate to Monitor from the left-hand sidebar.
You’ll need your Xero or QuickBooks CSV file that contains your monthly charges ready to upload.
It will look something like this:
Xero
QuickBooks
Configure Settings
1. Click 'Upload Data' to get started.
2. Select the type of subscription data to analyse: Xero or QuickBooks.
3. To compare the subscription fees you’re charged by the vendor to what you’re charging clients, you need to select the relevant services before uploading your file. Click the Settings button to finish the setup, and select the service/services you'd like to monitor.
We’ll display all services from your current and future pricing menus, as well as any services from older pricing menus that have been used in proposals.
Once selected, click ‘Save’. You can always update these settings later.
Uploading your Xero or QuickBooks CSV
• Drag and drop your CSV file into the dotted box on the page
• Or click to browse and upload
• Then press 'Upload'
You’ll now see a comparison between the prices in your proposals and the actual vendor costs, listed by client. The comparison table contains:
Proposal Price - the proposal line item price for the service selected in setup.
Calculated Price - cost from your CSV.
Variance - the difference between the two prices.
Variance % - the variance represented as the percentage under or over charged.
Status - the client status between 'OK', 'Under Charged', 'Over Charged', or 'Missing Data'.
Issues - How many issues were identified with the client's proposals (useful when you've uploaded more than one file to compare different services).
Investigating the Results
We’ll automatically try to match clients listed in your CSV to your clients in Socket. If we haven't been able to make a match, you’ll see a grey warning triangle. Click the triangle to manually select the correct client.
The dashboard will categorise the matched clients into one of four statuses:
OK - the proposal price and the uploaded file price are the same.
Under Charged - the proposal price is less than the uploaded file price.
Over Charged - the proposal price is more than the uploaded file price.
Missing Data - there is missing data and a calculation cannot be made.
Hover over the 'Missing Data' chip to identify what data is missing. A client could be missing data because:
We couldn't match the client name.
The client listed in the uploaded CSV doesn't have an active proposal containing the identified service.
A client matched the identified service but was not listed in the uploaded file.
Recalculating the Results
The 'Recalculate' button will appear when there has been activity with proposals or clients linked to the dashboard results, for example, if a proposal or client has become active or inactive. Click 'Recalculate' to update the calculations.
Uploading a New File
Uploading a new CSV will clear the current displayed data for the selected service/s. To upload a new file, simply select 'Upload Data' again and follow the steps above.
Adjusting Settings
If you need to include additional services to be monitored:
• Click 'Upload Data' then select the 'Settings' button.
• Add any extra services you’d like Socket to cross-check