Advance Charge Rules

SchoolLeader manages your accounting activity based on predefined accounting periods.  Typically, you post charges and  receive payments all within the same period (week or month), before posting charges for the next week or month.

Although SchoolLeader does not allow you to post payments to any period other then the current open period, you can post charges to the following (future) period.  An example of this might be to post recurring fees on a Thursday for the following week.  In this case, SchoolLeader will be creating Advance Charges.  Since the charges actually represent activity for a future accounting period, you need to tell SchoolLeader how to handle them using this window.

To access the Advance Charge Rules, click on Accounting, then Accounts Receivable, then A/R Rules, then Edit Advance Charge Rules  The following window will be displayed:

You must select one of the 3 available options:

  1. Current Due / Earned Income, Bill as "current due" and treat payment as Earned Income.
    Using this option, the guardian's current balance will reflect current charges in the current period plus any advanced charges. Payment received for advanced charges is immediately treated as income.  This option effectively treats any advance charges as current charges.

  2. Current Due / Un-earned Income, Bill as "current due" but treat payment as Prepayment.
    Using this option, the guardian's current balance will reflect current charges in the current period plus any advanced charges (just as option 1).  However, payments received are not considered income at this time, and are booked to the prepayment account in your subledger.  This option allows you to treat advance charges as current due but also treat the payments more correctly as advance payments until the next period opens.

  3. Future / Un-earned Income, Exclude from Current Due charges until the next  period opens
    Using this option, the advance charges are posted into the next accounting period, but the charges are excluded from the guardian's current balance, and no payment is due for these charges.