AR Invoice Processing

Overview

Veracross utilizes Accounts Receivable (AR) invoices as the means by which financial obligations to the school are tracked and communicated to the responsible paying entities (person, household, or organization). Invoices can contain charges for one or more students. The charges may be presented on the invoice in detail or summary fashion. As payments are made to fulfill financial obligations, they are applied to the appropriate invoice(s), allowing the outstanding amount due on every invoice to be tracked separately.

There are three broad categories of invoices in Veracross: Comprehensive, Tuition, and Auxiliary. Paying entities can be issued as many Auxiliary invoices as desired in a given year. It is highly recommended, however, that only one Tuition invoice be issued per paying entity for a given school year. This general restriction allows users to take full advantage of many automated processing features available in the system.

Charge items are utilized as building-blocks for billing performed via account receivable invoices. Users may also add line items directly to AR invoices and bypass the charge item process if desired.

Items on AR invoices may represent charges associated with specific students, or they may not be associated with an individual person at all (e.g., billing an organization for their rental of the school’s gymnasium). Each item on an invoice can have its own due date, allowing for precise aging of each item so that reminders and statements can be sent to paying entities in a timely manner.

The Veracross system allows for printing AR invoices in a tailored fashion so that the document presents information in a manner desired by your school. The system also possess the ability to print AR statements which summarize the billing and payments associated with multiple invoices on a single document.

Entering New AR Invoices

Most schools invoice student charges at the student or household level. Of course, there will be exceptions, so the system allows exceptional invoices to be created at any level.

Creating AR Invoices Manually

The system allows you to manually create AR invoices. To do this, navigate to the Accounts Receivable homepage and click the Add an AR Invoice link.

Enter all desired information and click Add AR Invoice Header  when done.

Creating AR Invoices From the Student or Household Detail Screen

From either a Student or Household Detail screen, click the Action menu  and then New AR Invoice.

The system will present a new AR Invoice screen. The Person or Household field (depending on where the process initiated) will be pre-populated, but all other fields will be empty.

Populate the data fields as desired and click Add AR Invoice Header  to complete the process.

Creating AR Invoices in Batch

The methods of creating invoices documented above are handy when processing charges for a few students or households, but processing an entire school’s invoices in any of those ways would be time-consuming. To automate the process, Veracross provides a batch capability that will generate invoices for a wide range of students or households in a single step.

To do this, click AR Invoice Processing on the Accounts Receivable home page. Fill out the relevant information and click Add.