Map 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.