Tuition management module - Create your receivable accounts

If you would like to differentiate revenue streams, you can build a list of accounts which are assigned to your payment methods, fees, and tax rates.

Create a new account and fill out the respective fields.

Account name/status: This is mandatory, so give the account a name and make it active.

Account code: This is mandatory. 

Account type: Choose from a pre-created list to be able to classify the account type. This is a mandatory field.

Statement type: Select balance sheet or income statement.

Tax rate: If you have created a tax rate, then this can be applied to the account. Leave the default No tax option if applicable.

Description: Explain the receivables or details of the account for other finance users to reference.

Apply your fees to your accounts

You must create accounts BEFORE creating your fees. It is a mandatory field for fee creation.