Byga TeamCFO - Team Payments, Financial Accounts and Spend Cards for Club and Team Admins Document

Please click the link for Byga TeamCFO - Team Payments, Financial Accounts and Spend Cards for Club and Team Admins documentation.

Here are the main points of this document:

• TeamCFO Overview: TeamCFO is an optional add-on set of features within Byga designed to help club teams with budgeting, payments, and financial visibility for compliance. It includes budget and expense planning, invoicing, payment collection, processing into linked external accounts, integrated financial accounts, and spend cards.
• TeamCFO Expense Tracker and Budget Invoice Setup:
  • Budget Planning Tools: Two types of objects: Expense Trackers (information-only ledgers for bookkeeping) and Budget Invoices (expense lists for player contacts to pay their share, itemizing costs for activities like tournaments or equipment).
  • Creating/Editing Trackers: Allows itemized expenses, document uploads, and player-specific amount adjustments (auto-split, lock amounts for credits/financial aid).
  • Budget Invoicing: An additional setting for budget invoices is the destination payment account, and minimum payment amounts can be enforced.
  • Approval Modes: Budget invoicing can be set up for Club Admin approval (default, managers create but admins approve/activate) or Team Admin approval (responsibility distributed to team roles, Byga Support enabled).
• Club Admin Required Setup: Budget Invoicing Destination Accounts:
  • Requires a financial account (external or Byga Financial Account) to be associated with the team for payouts.
  • External accounts need unique email addresses for onboarding (e.g., using email groups).
  • Byga offers financial accounts with spending cards for clubs without existing team bank accounts.
• Payment Collection: Participants can pay invoices directly through Byga using credit/debit or ACH payments.
• Admin Only: TeamCFO Reports: A new tab in the Financial Center provides a club-wide view of all TeamCFO budget trackers, with filtering options by various statuses (e.g., Approved, Needing Approval, Open, Closed, Warnings).
• TeamCFO Payment Participant View:
  • Participants see pending budget/expense trackers on their dashboard.
  • Visibility Settings: Control the level of detail participants see:
    • Private: Only own payment info and status.
    • Paid: Own payment info and status, plus paid status of other participants (no details).
    • Public: Own payment info and status, plus full payment details of all participants.
  • Participant Payments: A "PAY" button appears if the tracker is set up for payments, allowing full or partial payments. Invoices are generated for these payments.
• TeamCFO Financial Accounts:
  • Club administrators can onboard Byga financial services and manage financial accounts from the Financial Center.
  • Team Account Visibility and Access: Accessed from the Financial Center's settings and a team's planning tab.
  • Financial Account Dashboard: Displays balance, account & routing numbers, account activity, and associated cards.
  • Transaction List: Shows credits and debits from TeamCFO payments, banking transfers, or spend card usage, with details and dispute options.
  • Transfer Money: Funds can be transferred between Byga accounts or to external financial institutions via ACH.
• Spend Cards:
  • Act like debit cards, using the account's available balance.
  • Can be physical or virtual cards, with options to view/hide details.
  • Actions include viewing/disputing transactions, deactivating, replacing, canceling, setting spend controls, and editing cardholders.
  • Adding a card requires cardholder information (search Byga user to pre-fill), agreement to terms, and activation. PINs for physical cards can be viewed.
• Account Activity: Provides a list of transactions that can be filtered by date or exported.
• Permissions: TeamCFO activation is enabled by Byga Support. Club-wide permissions include "administer budgets," "manage financial accounts," and "manage financial services." Team-scoped versions of these permissions are also available for team staff.