XenDirect includes three main financial features: Invoices, Payments, and Reporting. Maintaining accurate financial records is essential for tracking revenue, managing balances, and assessing program viability.
This guide provides an overview of these financial features, explaining how invoices, payments, and financial reports function within XenDirect.
Applies To: Enterprise | Plus | Basic
Invoices
Purpose of an Invoice
An invoice is a bill for services provided. Invoices in XenDirect are linked to a client and their registrations to determine the amount due for purchases. Even if a client pays in full at registration, an invoice is still created for internal tracking purposes.
If an organization uses an external invoicing system, XenDirect invoices are still required internally to track balances and due amounts.
Invoice Components
Invoices contain client and purchase details and include line items that determine the total amount due. Line items can include:
- Tuition
- Fees
- Discounts
- Credits
- Adjustments
Invoices can include multiple course registrations and an unlimited number of line items.
Invoice Debits vs. Credits
-
Debit Line Items → Increase the amount due.
- Example: A $50 tuition fee adds $50 to the invoice total.
-
Credit Line Items → Decrease the amount due.
- Example: A $5 discount reduces the invoice total by $5.
Any invoice adjustment—other than an actual payment—is made through debit or credit line items.
Invoice Creation
An invoice is automatically created when a registration is added through the Admin module or WebReg module. The invoice includes line items based on fees and automated discounts applied to the course section.
Once an invoice is created:
- Changes to course fees do not automatically update the invoice.
- Modifications must be made manually or via related functions such as OnAccount/Refund.
Invoice vs. Receipt
- Invoice: A bill for services that may or may not be paid.
- Receipt: Proof of payment made toward an invoice.
- Purchase Order: A document issued by a customer as proof that an order was approved for payment.
An invoice can serve as a receipt if payment is made, but a receipt is not an invoice.
Payments
Purpose of a Payment
A payment is a financial transaction applied to an invoice balance. Payments can be made through:
- Cash
- Check
- Credit Card
- Refunds
- OnAccount (internal credit transactions)
Payments are essential for tracking revenue. Since invoice adjustments are not considered revenue, any non-payment modifications must be recorded as debit or credit line items on the invoice rather than as payments.
Payment Tracking
Payments are linked to multiple data points, including:
- Client Record
- Revenue Item
- Account
- Transaction Date
- Course Section
- Deposit Date
Additional fields provide further details on each payment record.
Financial Reporting
Available Financial Reports
XenDirect provides a variety of financial reports for tracking balances, revenue, and expenses. Reports include:
- Balances Due
- Invoices
- Profit/Loss
- Expenses
- Receipts
These reports can be accessed through:
- Report Menu → Financial Reports
- Client Record (for specific reports such as receipts)
Dynamic vs. Static Report Calculations
Most financial reports in XenDirect are dynamic, meaning they update automatically as data changes. When new transactions are recorded or modified, the report will reflect the updated data the next time it is generated.
Conclusion
XenDirect's Invoices, Payments, and Reporting features provide a comprehensive financial tracking system for managing client transactions, tracking revenue, and analyzing financial health. Understanding how these components work together ensures accurate financial management and reporting. For further assistance, refer to related articles or contact support.