There are many administrative and accounting tasks that need to be performed in Veracross at different times of the year and can be roughly broken down by season. This article serves as an overview of managing the school year.
Managing the Seasons of the Fiscal Year
The following tables provide an overview of the different required tasks throughout the fiscal year. Some areas are broken down month by month, as these processes run on a tighter timeline for most schools. Then are listed periodic processes that occur throughout the year (often in tandem with the start and end of invoicing), and then processes that tend to occur in the fall, winter, and spring.
Several tasks typically occur in the fall.
|AR||Handling Withdraws||With the start of the school year, comes students withdrawing. Reference this documentation on how to withdraw a student.|
|AR||Incidental Billings||With the start of the school year, starts the need for incidental billing. Regardless of the Invoice Type, there is no change in the processing of charges with incidental invoices.|
|GL||Budget Prep||The fall is typical when we see clients start to prepare the budget for the next fiscal year and there can be updates to current fiscal year budgets.|
|Bus Office||Audit Season|
|Bus Office||First Board Financial Report||Typically we see that the first board financial report is due at the end of Q1 for the first board meeting.|
Several tasks typically occur in the winter.
|Bus Office and Adm||Review Online Re-Enrollment Configuration||Online Enrollment typically begins in the winter, collecting those individuals that will be enrolled in the next school year. This is where you collect Deposits and parent's choose their Payment Plans. If you have Student Billing, this directly links to the information that comes in through the integration.|
|AP||1099 Processing||January is the month where all 1099s must be processed, and in Veracross we can assist in the processing of these 1099s in our Accounts Payable module. Review this documentation on how to prepare and print 1099s.|
|Bus Office||VC Pay Registration Configuration for the Next Year||VC Pay Registration discussions will start with your AM or IM as Online Enrollment season begins.|
Several tasks typically occur in the spring.
|AR||Creating Invoices||To start the billing of the next school year, after Online Enrollment is completed the first step is creating and processing AR Invoices.|
|AR||Launching Invoices||Launching new invoices to the Parent Portal will depend on when you at the school want it to be available to the Parents, maybe as soon as it is ready or make them available in a specific order. Composer can be utilized to announce invoices from being available, depending how your school bills (either on the Household or Student level) will depend on how it is used.|
|Bus Office||Creating AutoPay Batches||In order to create the AutoPay Batches that will process automatic payments for the parents, you start with creating a AutoPay Schedules.|
|Bus Office||AutoPay||Launching AutoPay for the first time or for the new school year invoices come with some configurations and review. Here are documentation articles and videos that can help you during this time.|
Several tasks typically occur in the Summer.
|General||Close of School Year Procedure||The Close of School Year Procedure is run on the Academic side of Veracross but what may affect the Business Office is the changes of roles. Parents become Former Parents which removes their ability to access to the Parent Portal to pay any lingering bills and also may affect any queries you have built looking for Students who are now 'Former Students'. Contact your Account Manager if you are looking for solutions.|
|Bus Office||Audit Season||With the Audit season you may need to run various reports in your Accounting Database.|