Schools can pay Officials for events worked - directly through Bound. After setting up a wallet, a school has the ability to pay officials, one-by-one or in bulk, as well as generate various tax and transaction reports.
Before you can pay officials, your school's Wallet must be set up and your bank account linked (covered in the first task section below). Officials must also have their own Wallet set up in Bound; you can't pay an official who hasn't completed setup on their end.
How Payments Work
The Pay screen is where your school reviews pending payments, adjusts them if needed, and sends them out. Funds come directly from your school's Wallet balance. After payments are sent, an approval step finalizes each one.
Set Up Your Wallet
This is a one-time setup. Once your Wallet is created and your bank account is linked, you'll only return here if you need to add or change accounts.
From the school dashboard, click Business (the dollar sign icon) in the lefthand menu, then click Pay.
Click Link Bank Account. You'll be prompted to link a bank account, which is handled by Link and Stripe.
Follow the Link and Stripe prompts to connect your bank account. You can connect more than one account if needed.
Enter a name for the Wallet, fill in the billing information, and set a Wallet PIN. Your PIN is required every time you send payments. Forgotten PINs must be reset by an admin.
Once your bank account is connected and verified, you're ready to pay officials.
Note: Verification can take 3 to 5 business days.
Pay Officials
Bulk Pay (Officials Contracts)
From the school dashboard, click Business in the lefthand menu, then click Pay.
The default Pay view will show Officials Contracts pending payment.
If this view does not automatically appear, click the Payment Type button, then select Officials Contracts from the dropdown.
Check the box next to each payment you'd like to send. To select all pending payments, use the checkbox at the top of the list.
Scroll to the bottom of the list, confirm the total amount being paid, enter your Wallet PIN to authorize the transaction, then click Pay Officials.
Single Payment
In the Pay view, click Payment Type -> Single Payment from the dropdown.
Search for an Official by typing their name in the search box. Click the arrow next to the appropriate official.
Confirm the total amount being paid, enter your Wallet PIN to authorize the transaction, then click Pay Official.
Reports
View wallet activity, balances, deposit/withdrawal info, transfers, transactions, and more.
In your school dashboard, go to Business -> Pay.
In the Pay window, click the Reports button.
Basic Reports
Under Basic Reports, the following available reports will appear:
Wallet Summary: Overview of activity and key metrics.
Deposits & Withdrawals: Detailed report of money coming in and out of your account.
Transfers: Report of transfers between wallets.
Transaction Volume: Analysis of the volume of transactions, i.e. trends and patterns.
Financial Statement: Comprehensive statement; income, expenses, net position.
Cash Flow: Analysis of money movement.
Click the View Report button below the Report you would like to generate.
In the window, select a Start Date and End Date to determine the timeframe you're generating the report for. Bound will generate Report Data based on your selected date range.
Tax Reports
Tax compliance and reporting tools used for record keeping and annual filings.
Under Tax Reports, the following available reports will appear:
1099 Tax Report: Generates 1099 forms for tax reporting.
Annual Tax Summary: Comprehensive annual summary of taxable transactions.
Quarterly Tax Report: Comprehensive quarterly summary of tax-related transactions.
Click the View Report button below the Report you would like to generate.
In the window, select a Start Date and End Date to determine the timeframe you're generating the report for. Bound will generate Report Data based on your selected date range.
To export a complete transaction history, click the Transactions button in the Pay window, then click Manage -> Export Transactions from the dropdown. Exports will be CSV (excel, sheets) format, labeled "[school-name]_transactions.csv."