Setting Up Balance Due Calculations

Applies To:   Enterprise    Plus     Basic

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Overview

Balance Due is a value that is calculated every time the value is requested in a report or on the screen.  The Balance Due calculation is affected by several settings as noted below.  Changing these settings after records are entered may change prior Balance Due amounts.

• Payment Types are not user defined but can be enabled/disabled.  References to Payment Types on this page may include those that could be disabled and not visible to the user. 

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CLIENT INVOICING METHOD

This method is referred to as InvoiceB or InvoiceC within XenDirect.  The method includes where invoice item fees determine the amount due and invoice payment transactions determine the amount paid.  In this case, Invoice is being referred to using the Main Menu >> Accounting >> Invoices feature.  A third invoicing method, InvoiceA, exists that is similar to a credit based method college or univeristy may use.  To utilize the InvoiceA method, contact Xenegrade support for details.

InvoiceB/C:  How Balance Due Is Calculated
The Balance Due calculation is processed as follows:

• Amount Due:
  • The total amount of all invoices and invoice items.
• Amount Paid:
  • All payments recorded with the invoice are totaled.
  • These transactions are added to the Amount Paid unless the record is tagged as Refund:
    • Payment Types:  American Express, Cash, Check, OnAccount Used, Diners Club, Discover, Laser, MasterCard, Money Order, Other, Visa
  • These transactions are subtracted from the Amount Paid:
    • Payment Types:  Uncollected Funds
    • Records tagged as Refund.
  • The Entry Error Payment Type should always be set to Exclude In Balance Due to prevent them from being included in the Balance Due calculation.
• Balance Due:
  • The Balance Due will be the Amount Due minus the Amount Paid.

Settings That Affect Balance Due
The following settings affect how the Balance Due calculation outcome:

• Main Menu >> Selects >> Payment Types:  Only those tagged as Balance Due = Include will be used in the calculation.
• Main Menu >> Clients >> Client Info >> Demographics:  Fee Group field determines the appropriate fees to include.
• Main Menu >> Courses >> Sections >> Financial >> Fees:  Only fees with Included In Balance = Yes will be used in the Balance Due calculation.
  

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