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Fair Value Measurement (Tables)

9 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of fair value level for cash and cash equivalents and available-for-sale securities measured on a recurring basis

The fair value level for the Company’s cash and cash equivalents and available-for-sale securities is as follows:

			June 30, 2021
			Total						Level 1						Level 2						Level 3
Cash and cash equivalents			$	202,287					$	202,287					$	—					$	—
Funds held for clients' cash and cash equivalents			1,743,594						1,743,594						—						—
Available-for-sale securities:
Corporate bonds			13,460						—						13,460						—
Asset-backed securities			7,079						—						7,079						—
Total available-for-sale securities			20,539						—						20,539						—
Total investments			$	1,966,420					$	1,945,881					$	20,539					$	—

			March 31, 2022
			Total						Level 1						Level 2						Level 3
Cash and cash equivalents			$	96,465					$	96,465					$	—					$	—
Funds held for clients' cash and cash equivalents			4,176,903						4,176,903						—						—
Available-for-sale securities:
Commercial paper			49,327						—						49,327						—
Corporate bonds			53,319						—						53,319						—
Asset-backed securities			7,947						—						7,947						—
Certificates of deposit			23,735						—						23,735						—
U.S. treasury securities			3,946						—						3,946						—
U.S government agency securities			6,628						—						6,628						—
Other			2,762						—						2,762						—
Total available-for-sale securities			147,664						—						147,664						—
Total investments			$	4,421,032					$	4,273,368					$	147,664					$	—

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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