# Setup # Opening Balance Opening Balance is the due or the advance balance of the students the school needs to update into the system before they can use the Veda billing system and generate the invoices.
How to add an opening balance? Ans: There are two ways that the opening balance can be added. 1st of all make sure you have created a fee name called. “Previous Due” to add the dues to this fee topic. a) Direct from the system Go to the option “Opening Balance” under “Setup”, select the fee named “Previous Due” which you have just created and select the required class and section. After you have selected them, a view appears where you can see the list of the students, then you can add the due amount or the advance amount accordingly. b) From the CSV file Go to the option “Opening Balance” under “Setup”. To download the CSV file go to the “Import File” option on the top right side of the page and you can see an option where you can download the file. In the following file, enter the details of the students like code or Student Previous code, anyone is enough. Then add the total due amount, if there is an advance amount you should add the minus (-) sign before the amount. Save the file and upload it on the same view from where you have downloaded the file.
Can opening balance be changed once it has been added? Yes, it can be changed once it has been added. However, after generating the invoices and after you made transactions in the billing we don't suggest changing it, as Opening Balance is meant to be entered only once and correctly in the system.
To add opening balance we need to change the fiscal year or not? Ans: If the school has only one fiscal year running currently then we do not need to. If there are multiple fiscal years in the school then we always need to activate the previous fiscal year (whichever is previous to the current fiscal year) and add the opening balance.
# Academic Level and Period In an educational institution there may be different levels such as school level, +2 level, and college level. We can define different academic levels using this feature and along with the level, we can define the different time periods for the academic level.
What is the meaning of academic level and period? Ans: Academic Level means the level of education that an institution provides i.e. Primary, Secondary, Higher education or school, +2, bachelor, and so on. Period means a model in which an institution takes fees from students i.e. monthly, semester-wise, quarterly, and so on.
How to add academic level? Ans: Go to “Academic Level and Periods” inside the “Setup”. Click on “Create Academic level”.Type Level Name.Set period escapable if you want to create an invoice by escaping periods otherwise keep it off. Choose the type of period you want to use at that academic level. If there is no period according to requirement leave it to none. Submit to save the academic level.
How to add a custom academic Period? Ans: To add or make custom periods in academic level goto “Academic Level and Periods” inside the “Setup”. Click on “Create Period”.Type the name of the period and choose on which academic level period is to be set in and submit to save the period.
# Batch Batch is the feature where all the academic levels created are shown along with their current academic year and grades that lie under that level. From here grades can be added or deleted from academic levels.
How to add grades in a batch? Ans: Go to “Batch” inside the “Setup”.Go to the academic level that you want to add a class on the search class on the right side search bar and click on add. Click on submit to save.
How to delete grades in a batch? Ans: Go to “Batch” inside the “Setup”.Go to the academic level that you want to delete the class on then you can see the delete button for each grade name click delete on the grade you want to delete. Click submit to save.
# Sync Student # Add Student Adding students helps us to add students from Veda academics. Veda does not sync students automatically after adding in the system. Automatically students are synced for the first time only. So after adding the further student we have to add students in billing using Veda billing. We can add students by going to the add student option, selecting class and section and selecting From the discount and scholarship options we can define the discount and scholarship which needs to be provided to the students. From this option, we can define discounts and student and press submit.
In which case do we have to add students? Ans: If the student does not display in class or while searching in billing through the student is shown in academic then we have to add students.
How can we add students to billing? Go to “Add Students” inside “Setup”.Then select the academic level academic year and grade. Select the students that are to be added and click on the add students button.
# Add Grade Add grades help us to add different classes which have been created in the Veda academic year. By default, the class added is not added in Veda guru but it is displayed in the add grade option so by using it we can select the new class and add it.
In which case we can use add Grade? Ans: If a grade is not shown in a particular academic level in the grade selection dropdown in billing although it exists in Veda academic then we can use “Add Grade” to sync grades from academic to billing.
How can we add a Grade to billing? Ans: Go to “Add Grade” inside “Setup”.Then select academic level and academic year. Select the grades that are to be added and click on the add grade button.
# Map Billing to Finance Map Billing to Finance is the tool that matches the billing topics to the finance ledger topic that later is used to sync the fees to ledger transactions from billing to finance.
How to set up map billing? Ans: First of all make sure you have made all the fee names on the billing and ledgers on the finance. Then go to map billing to finance under setup on the billing. Then you can see all the billing heads created in the billing and side of those empty boxes where you need to select the respective Finance ledger you have created in the finance. Please make sure you perform this step carefully as mapping into the wrong finance ledger might create issues to the overall finance reports. Here there are different types of billing heads, fees, payment methods, users, discounts, and deposits.
Difference in map billing for “Cashed Based Accounting” and “Accrual Based Accounting”? Ans: In Cash Based Accounting map billing we just need to map from the billing head to the finance ledger. Whereas in Accrual Based Accounting, we need to map the billing head to the finance ledger as well as Students to Students Mapping. There are two options in Accrual Based Accounting. a) Students to Students Mapping If the school wishes they can perform the mapping students-wise. This means they need to create the ledger head for individual students in finance and complete the mapping process. However, this isn’t the commonly used method as schools hesitate to create the ledger head for each and every student. b) Students to Students Fee Receivable This is the most preferred method, under sundry debtors a ledger named, Students Fee Receivable is made and under this ledger, all of the student's mapping is done. If this method is followed then the individual students mapping for Billing Head type “Students Deposit” also should be done. For this a new ledger named “Student Security Deposit” must be created under, Long-Term Loans and Liabilities. Then the mapping can be done accordingly.
# Day End # Fiscal Year Fiscal year, which is also called a financial year, is a 12-month accounting period that an From the discount and scholarship options we can define the discount and scholarship which needs to be provided to the students. From this option, we can define discounts and organization uses for financial and tax reporting purposes. The fiscal year always starts from the Current year Ashad 1st ko next year Shrawan Last.
How to Setup a Fiscal Year? Ans: Go to “Fiscal Year” inside “Setup”. When the current fiscal year ends on the righthand side, the “Close Current Fiscal Year” option appears. click on it.Then type the new fiscal year’s name, select the start and end date of the fiscal year (i.e. start of Shrawan to end of Ashad next year), and click submit to save. Then on the fiscal year list activate the newly added fiscal year and refresh the page.
# Academics Year Academic year refers to the time period in which a single academic session completes. So by using this feature we can define different academic years after the completion of the previous year.
How to set up new academic years? Ans: Go to “Academic Years” inside “Setup”.On the right-hand side under “Create Academic Year” type the new academic year’s name.Choose starting and ending dates for the academic year to choose the academic level for which the academic year is to be assigned. Click submit to save.Then from the list of academic years click activate on the newly added academic year to use it.