Finance is an important area of the system. In the Finance Preferences for your system, there will be a range of settings that impact how finance tasks are handled. This article will go over the Preferences within the Finance category.
The options mentioned in this article can be found under Administration → Configuration → Preferences. Click on the Edit button to change the settings.
TABLE OF CONTENTS
- Allow Agent Commission Updates: If you make use of Agents and give them commission for enrolled students, enabling this setting allows you to change the commission rates after they have been applied.
Commission rates cannot be changed after the invoice has been exported to an external system.
- Allow Editing of Exported Invoices: If you export your invoices to an external finance system (such as Salesforce or Xero), this will allow you to edit them after they have been exported.
- Available on Portal: This will make invoices available to view on the Student/Employer portal.
- Biller Code: You can input a Biller Code for your invoices in this field if you make use of BPAY.
- Credit Note Number Scheme: This will determine if Credit Notes use the same numbering as invoices or if they should have unique numbering.
- Hide Cancelled Invoice Documents on Portals: If an invoice has been generated and the PDF document is available in a portal, this will hide it if the original invoice is cancelled.
- Include Enrolment ID: If an invoice is created because of a Payment Option, the Enrolment ID will be included in the description of the invoice.
- Prepare Invoices Nightly Job: This enables the Prepare Invoices job to run every night. This job will prepare any invoices that have been scheduled in the system.
- Invoice Logo: Selects the logo image that will appear on your invoice documents. The images that are available here can be found in Administration → Templates → Images.
- Invoice Template: This sets the default template that is used to generate your invoice documents.
- Automatic SmartFees: Setting this will enable the Automatic SmartFees option for newly created Programs by default.
- Payment Due Terms: The number entered in this field will be the default Payment Due Terms value.
- Payment Gateway: This selects the payment gateway for people logged in via the site or the trainer portal.
- Payment Template: Sets the default template for generating a payment document (could also be referred to as a receipt).
- Pronto Debtor Prefix: If you use Pronto Xi for managing your finances, you can add a prefixed value to party identifiers when exporting your financial information.
- Quote Template: Sets a default template when generating quotes.
- Exports - Trading Name: When you export financial information, the companies will be referred to by their Trading Name instead of their Legal Name.
- Invoice Type: Allows you to set the type of invoice that you would like to generate by default.
- Income Account (Bank Account): You can enter the account number for the bank account that will receive payments
- Receivable Account: You can enter the account number for your receivable account here.
Here is some additional reading on the financial systems: