This report displays student and payer data for charges, credits, and payments to understand receivables and remittances. Each payer will have a carat dropdown which groups up their students that they are responsible for. To find this report from the home page, go to Billing > AR Report.
This report includes the following columns:
Charged - All contractual charges plus any incidental charges
Credited - All contractual credits plus any incidental credits
Paid in School - All payments manually entered by the school, including deposit payments within the checklist
Paid Online - All base amount payments made electronically
Convenience Fee - The convenience fee charged to payers
Balance - The sum of all charges, credits, and payments
Pending - Electronic payments that have not been remitted yet
Platform Fee - Enrollment based fee for application and deposit payments
Merchant Fee - The sum of platform fees with the addition of the payment processing fee
Remitted - The net amount of electronic payments that have transferred into your school's bank account.
The purpose of this report is to capture a snapshot of accounts receivables compared to what has actually been remitted to your bank account. This also can be a base for journal entries since this report includes credits and debits per account and per student.
The entire page is exportable to a CSV format, it will also include the sum totals at the bottom of the export.
There are a couple of minor differences for those who are using different payment processors, Stripe legacy or SchoolAdmin Payments.
For SchoolAdmin Payments:
As soon as a payment is made, you will be able to see that payment within this report along with the associated fees.
For Stripe Legacy:
Once a payment is made, it will not shown up immediately on this report, it will take at least a day for it to show up, along with the associated fees. This will also apply to refunds and failed payments.
For Either Processor:
Since payment related fees are not tied to a student but on the payer, Convenience fees, Platform fees, and Merchant fees will always show up whether you filter this report by date or term.