Configure your financial organisation

You may have multiple billing organisations for use within the MySchool finance module. This is commonly used when primary and secondary schools are run separately, or if you offer extra curriculum activities, but use a different company or institute account.

What is the organisation?

It is the core of your finance module. It is the entity from which you invoice and receive payments. Let's look at how to configure the different fields and what these affect;

Organisation name: This will be the entity name shown on invoices, receipts, and credit notes. You need to set the organisation to active to start using the finance module.

Financial start date: This is the first day of your financial year. This helps organise the invoices when using the year filter view. 

For legacy finance users, you no longer have to place a new financial year date range in year management.

Account association:

In the new education module, the account association would-be guardians, and the invoice payer/s assigned to the student in their finance tab will show on the balance page.

Account number generation: There are two options; automatic, and manual. The automated generation will use the MySchool User ID as the account number. These are unique. Manual means that each invoice payer will have an empty cell, which must have a number or reference added.

Currency: This is a mandatory field and is set once the organisation has been created. It cannot be changed after the creation of the organisation and invoices have been raised. Select the appropriate currency from the drop-down list. 

Invoice/Credit number prefix: You can change the prefix before the invoice number or the credit note. 

Start document from:  You maybe be transitioning from a legacy system, and do not want to reset voice numbers. Change this field before raising any invoices against the organisation. It cannot be edited after. 

VAT number: Add your VAT number to invoices if applicable.

Change logo: This is the logo that will be used in your organisation's templates. If no Logo is uploaded the default will be your MySchool system logo.

Payment terms: This will determine the payment conditions that will trigger overdue payment statuses. It must be entered in days.

Address: Complete these fields to be included in your invoices

Multi-school systems can create an organisation per school or apply one organisation across the other schools in your system.