Charge Item Processing

Overview

The Veracross system utilizes charge items to record and track all “purchases” of goods and services by students.  Each charge item records the transaction date, type (from the price catalog), quantity, unit price, and the student being charged. These charge items can be simply posted to a student’s account, and cash receipts can also be applied to their account. This approach provides for simple tracking of purchases, payments and amounts due.  Alternatively, charge items can be utilized as building blocks for more formal student billing performed via account receivable invoices.

When charge items are utilized as a basis for invoicing, they can be manipulated prior to actual invoicing to reflect the specific payment arrangements that may exist for any given student or household.

Example: If a student is allowed to pay tuition in installments, the tuition-related charge items assigned to that student can be subdivided into several equal-sized amounts. Say the student is charged $4800 for annual tuition with a payment due date of July 1^st. If they were granted a payment plan that allowed for 6 separate monthly payments, the system would take the initial charge item and create 6 items of $800, each due on dates July 1^st, August 1^st , etc. These new items can then be assigned to invoices and aged according to their due date.

Another operation that can be performed on charge items is the assignment of override billing persons or organizations. When a person other than the student’s parent pays for certain charges, or when another organization pays for charges, those entities can be designated on the charge items. When they are ultimately assigned to invoices, the system will automatically assign them to the invoice of the appropriate entity.

Finally, some charges are not really charges at all, but represent credits to students’ accounts. Charge items of this nature are entered as negative amounts, and thereby reduce the amount due for the student. Examples include scholarships, financial aid and multi-child discounts.

Manually Entering a Student Charge Item

Create the Charge Item

There are two main ways in which you can manually create a new student charge item.

1.  From either the Student Billing or Accounts Receivablehomepage, click + Add Student Charge.
2.  From a Student Detail or Household Detail screen, click the Action menu  and then New Charge.

Enter the Information For The Person Charge Item

Any of the above methods will bring up a “Person Charge Item” screen. Enter the appropriate data and click Add Person Charge Item .