Finance
Finance
Understand the daily finance workflow: prices, charges, payments, allocations, and balances.
Finance is where staff manage what students owe, what they paid, and what remains unpaid.
Core Flow
Use this model:
| Term | Meaning |
|---|---|
| Fee definition | Reusable price rule, such as registration fee or course fee. |
| Discount definition | Reusable percentage discount staff can apply while creating a charge. |
| Charge | Amount one student owes. |
| Payment | Money received from a student. |
| Allocation | The part of a payment applied to a specific charge. |
| Balance | What remains unpaid after payments are allocated. |
Daily Finance Work
| Workflow | Use it to |
|---|---|
| Fees and Discounts | Prepare prices and approved discounts. |
| Student Finance Accounts | Find a student, review balance, charges, payments, and history. |
| Create a Charge | Add registration or course fees to a student. |
| Record a Payment | Record money received and apply it to open charges. |
| Corrections and Reporting | Cancel mistakes, reverse payments, and review the payment register. |
Operating Rules
- Create charges before recording payments.
- Record a payment only after money is received.
- Allocate every payment to the correct charge.
- Check the student balance after every payment.
- Use correction actions for mistakes; do not hide mistakes by creating unclear records.
Course-fee payments may affect commission tracking when the student has consultant or agent attribution. Registration fees do not create commission earnings.