Transactions & Balances

MySchool caters for schools that require payment for tuition, registration, activities, and ad hoc expenses. The finance module allows schools to manage this. This article will cover the issuing of invoices, and recording payments received.

How to Access

The finance module contains both the Balances & Transactions. Make sure you have dates entered for the financial year in year management. Issue invoices to the designated guardian, controlled via the user permission, Invoice.

Balances

The list can be changed to show users with balances (both positive/negative). It can also list users that have confirmed payments. Click on the name of the invoice payer to bring up the customer account information.

Accounts can be grouped via account numbers. In the balance sheet list, users can click on the entry type to bring up details of the invoice. Fees are applied to the student according to the fee matrix.

New payment

If you receive payments, then click on the New Payment to record against the account and balance sheet. From this window you can set the date, amount and payment type.

New Adjustment

Adjustments can be added directly to the balance if appropriate. Click to open a new adjustment. Search for invoice recipients by entering a minimum of 2 letters into the field.

Transfer data

If the invoice payer is changed then you may need to transfer the data between profiles. Click to open a single filed window requesting the name of the new invoice payer. All financial records attached to the account will be transferred across.

Transactions

The transaction page differs from balances as it will list invoices, and payments received rather than an account balance. Finance admins can create new invoices, payments, and adjustments. The batch process allows invoices to be grouped together and printed as a batch. 

New Invoice

Create an invoice from the transaction page. Choose the recipients with the folder icon. This brings up the people picker. Then apply an issue date, and a due date and year. The invoice items are created in the Fee function. Simply check the box next to the item to apply it to the invoice. If the item is not a regular occurrence, then you can add an additional line to the invoice as an ad hoc item. After creating the core of the invoice, the items are listed, and you can edit the lines on the preview mode, or preview a PDF version of the invoice.

Please note that for guardians to download the invoices, they must have access to the Guardian portal beforehand. Invoices are not sent directly as PDFs, but the guardians are provided with a link to download from the portal. Please speak to the CSMs about your plans when setting up finances.

We can format your invoices with logos. Design a mock up on word or other software, and our Dev team will be able to work with you to build the PDF version.

New payments and adjustments can be be created from this list page as well. Batches are taken from the same issue date to group payments together, you can also delete batches using this button.