Studioware contains a full accounting module. The Accounts Receivable module allows you to track your student's financial transactions, and the Accounts Payable module tracks your staff member's financial transactions. Each student and staff member created in Studioware automatically receives a financial account. Some transactions are automatically added to the financial accounts (such as tuition transactions when a student enrolls in a class), other transactions can be manually added.
In this help email, we are going to focus on Student Financial Accounts. A financial account is automatically created for every student in Studioware. If students are grouped together in a family, the family receives a financial account instead of the individudal students.
Viewing the Financial Account:
There are a number of ways to view a student/family financial account. You may search for a student (in the upper right corner of Studioware) by last name, email address, or phone number. From the search results, click on the "View" button next to the student you want to open. The student summary page is displayed, which contains some important accounting information:
Notice that the summary page contains:
Learn more about account balances.
Click on the "Account" button in the student toolbar to view the financial details:
Accounting Ledger Features:
The acounting ledger has a lot of functionality. Here is an overview of some of the functionality
Add a Transaction:
Suppose a student/parent comes into your studio and wants to make a $100 payment by check. Studioware allows your students/parents to make electronic payments that are automatically captured on the financial account, however, for this scenario, let's consider a payment made in person by a parent. We need to add a "Payment" transaction on the student's financial account. Click on Transactions | Add Transaction. Select "Payment" as the transaction type:
Enter in the payment amount, payment type, check number, and note. Click on the "Save" button. Studioware will save the financial transaction and update the balance on the student/family account.
Advanced Accounting Options:
Studioware offers many additional accounting options:
In tomorrow's email tutorial, you will learn more about the Business Portal; so stay tuned!
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