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Last updated: May 14, 2020 by JTG
Go to Finance > Reconciliation
Payment transactions can be classified under different bank accounts depending on what accounts are setup in Reconciliation.
1) Click + Account.
2) Fill out the necessary details:
- Name - what to call the account
- Account number - the bank account number for this account
- Branch - what branch this account was opened
3) Once done, don't forget to click Add Account.
Click the ellipsis (three horizontal dots) of the account to edit; click Edit Details. Modify the contents as needed.
1) An account will show summary details:
- Bank balance – current bank balance based on payment transactions recorded
- Verified – verified payment amount
- Not verified – unverified payment amount
- Invalid – Invalid transactions recorded
For now, payment verification feature is not yet available.
All the payment transactions made by students recorded by the cashier/finance through Payments module will also appear in Reconciliation.
1) Click View Transactions of the bank to search. The Summary box will also turn to Yellow to indicate that it is the currently selected account.
2) To breakdown the details, let's take the first example:
- July 23, 2019 - when the transaction was actually made
- Cash - payment mode of the transaction
- AR 18998 - OR / AR number for the transaction
- 406577190019 - transaction sequence
- Garrett, Dalton - student
- 10,000 - amount; how much was paid for that transaction
3) To search for payment transactions, click the search bar on the right side and type the keyword to search.
Click the sort button on the right side
By Date - date of payment, ascending or descending
By Mode - cash, bank deposit, check, credit card, online payment; alphabetical A-Z or Z-A
By Amount - amount of transaction; ascending or descending
By Student - alphabetical A-Z or Z-A
1) Click the Kebab menu next to the Accounts, then click on Download Summary Balance
2) Select which school year to download, then click the Download.
3) Wait for the download to finish, and then open the file. It will show each student’s tuition, discount, collectibles before penalties, penalty, collectibles, total payment, balance, remarks, and balance percentage.
- Tuition – Total tuition amount of the student
- Discount – total discounts
- Collectibles before penalties – total amount of collectibles
- Penalty – penalties incurred for late payments
- Collectibles – total amount collectibles with penalty
- Total payment – total payment made
- Refunds – total refund amount
- Balance – student’s outstanding balance
- Remarks – other information about the student's finances
- Balance percentage – student’s total payment percentage