I know that things for daycare and school attendance are a bit uncertain as of this post.

But, yes, it just might be a good time for you to start thinking about revising your Accounts Receivables’ procedures or adding AR to your set of ShelbyNext Financials applications to process your daycare/school billings.

This is not one of my Best Practices posts, but just giving you some ideas about how you might set up or tweak your current billing and collecting processes. So, here is a tip you might use if you receive advance payments.

ACCEPTING ADVANCE PAYMENTS FOR A SEMESTER OR FULL YEAR

  • If you offer a discount for advanced payments, then be sure to set up an invoice type for one or more advanced payment types.
  • Post a payment to the student’s record (NOTE this will be saved and tracked as unapplied cash.)
  • Set up a recurring invoice covering one month’s charge.
  • Monthly posts invoices for each student where advanced payments exist.
  • AFTER posting the invoices for advanced payments, then under Utilities select and run Apply Unapplied Cash. (This records the payment for the selected month and reduces the amount in the student’s unapplied cash account.)
  • OPTIONAL – Produce statements, which will show the monthly billed amount and associated payment, along with amounts left for future billings.
  • NOTE: If you need to add additional activity fees or other charges, then do so after you run the Apply Unapplied Cash utility.

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