Getting Started:
There are a number of things that must be in your school’s account before you can start using the Finance Module. They are:
- Numberings – this tells the system what type of documents you wish to create and the numbering format for them.
- Cash Register – you will need to create a cash box(es) to be able to receive cash payments.
- Issuer Details – the details about your school that will appear on your financial documents.
- Payment Types – when creating transactions you will need to tell the system what type: cash, invoice, deferred it is.
Two other items can be added but are not essential:
- Payment Schemes – if your students can pay by instalments you can create these and add them to the students automatically when they join a course.
- Discounts – if your students are offered discounts to standard prices you will need to create them first.
Creating a Debt:
Before you can add a payment for a course the student or company must have a debt. Other tutorials show how to add a debt:
Payment for non course items such as books, exam fees etc., can be added directly to an invoice. These are created in Goods and Services.
Payment Types:
For the purposes of showing how the different payment types work and what happens when you add a payment we will use these three basic types:
There are basically two types of payments: cash and non-cash.
- Cash payments are credited to a cash register.
There are two types of non-cash payments:
- Non-deferred these are considered paid immediately i.e a credit card payment so effectively they are as good as cash.
- Deferred this is where, for example, you issue an invoice and expect payment in the future.
Adding Payments:
There are two tutorials on adding payments:
Related Tutorials:
- Student Settlement per Hour.
- Student Settlement for All Classes.
- Student Settlement Hourly Payment in Advance.