Recurring Charges are any charges that you want to post on a regular, rhythmic basis. Recurring Charges are typically used to reflect weekly or monthly tuition charges and discounts. Before posting the recurring fee schedule charges, you should have already:
Defined your Recurring Fee Schedule when setting up your accounting rules.
Added the appropriate recurring fees and discounts to each Student Folder Fees Tab and Guardian Folder Fee tab..
Before posting your recurring fees, SchoolLeader allows you to run a Recurring Fee Schedule Billings Report (Revenue Potential Report) that displays the details of the billings that are about to take place. This can be extremely useful if you want to review the charges to ensure accuracy BEFORE posting them. To run this report, click on:
REPORTING from the main menu, then click on View Reports. The Central Report Manager will open.
double click on the Accounting folder, then Accounts Receivable, then A/R Recurring Fee Schedule, then A/R Recurring Fee Schedule - Billings
There are 6 different versions of this report you can run. Three summary and three detail. Choose the one you prefer. The reports "by Primary Guardian" may be the most useful in this instance.
When the selection window displays, choose the billing cycle you wish to report (more than likely cycle 1) and the reporting accounting period. Note: You defined your billing cycles in the Recurring Fee Schedule when setting up your A/R Rules.
Review this report for accuracy because this is what SchoolLeader is going to bill for based on YOUR data entry. If you need to change any fees in the recurring fee schedule table or in the students' folders, now would be the time to do so. SchoolLeader will only bill what you tell it to bill, therefore, if you've made errors in the data entry, the billings will be incorrect.
Once you are satisfied with the accuracy of the Recurring Fee Schedule Billings Report, you can post your recurring fees. First ensure your fiscal calendar reflects the correct accounting period. To post fees click on Accounting (from the main menu), then Accounts Receivable, then Recurring Fee Processing, then Post Recurring Fee Schedule Charges.
You will be prompted with the following selectiion window:
Select whether these charges should be posted to the current accounting
period, or the next accounting period (are the charges for this week or
next week)?
The billing cycle is associated with the fees/discounts you defined in your Recurring Fee Schedule Charges Table. When you defined all of your recurring fees/discounts, you have assigned the fees/discounts to specific billing cycles. You may have defined weekly related fees, monthly related fees, and every 3rd Tuesday related fees. SchoolLeader is asking you for which billing cycle to post. Each billing cycle must be posted separately. For example:
if you have weekly tuition for your preschool program, you assigned your weekly based fees/discounts to billing cycle 1 in the Recurring Fee Schedule Charges Table
if you have monthly tuition for your kindergarten program, you assigned your monthly based fees/discounts to billing cycle 4 in the Recurring Fee Schedule Charges Table
For example, if you are posting your weekly recurring charges, then your billing cycle is 1. If you are posting your monthly recurring charges, then your billing cycle is 4.
Enter the date that reflects the billing date of these recurring fees. The selected date must fall within:
the current accounting period date range if posting to the current accounting period
the next accounting period date range if posting to the next accounting period.
Click on START, and all of your recurring fees/discounts for the selected billing cycle will be posted to each active primary guardians' payment account.
Once the posting has completed, you will be prompted to print you 'Recurring Fee Schedule Billings Report' that lets you know exactly how much was billed to each Primary Guardian. You can print this report for future reference during the week.
You may want to take a back up of your database before posting recurring fees. SchoolLeader will warn you when you are about to post charges twice to the same period, but it will not stop you from posting twice if you decide to continue with the posting.