How to Raise Invoices with Classe365's Fee & Invoicing Module
Classe365 offers a comprehensive Fee & Invoicing Module that allows organization administrators to easily raise invoices to students and parents. This feature is especially useful for schools, colleges, and other educational institutions that need to collect fees from their students.
STEP-1: Getting Started
To get started, log in to your Classe365 account as an organization administrator. Once you are logged in, complete your organization profile settings, updating the currency, and integrate with the payment gateways of your choice.
Then navigate to the Fee & Invoicing section of the platform.
STEP-2: Creating Invoice Templates
Classe365 supports custom invoice templates, and each fee category can be associated with a custom invoice template. To set up, go to Modules > Fee & Invoicing.
Head over to "Settings > Invoice Templates > Add Invoice Template".
You can choose either a predefined template, or build one from scratch.
Go to "Data Variables" to add the attributes into the invoice.
Once done, click on "Save".
STEP-3: Creating Fee Categories
In the Fee & Invoicing section, you'll need to create a fee category. To add a fee category, click "➕Add Fee & Invoice" button.
This will open a new window where you can enter the details of the fee category, such as the Fee name, Due date, invoice date, Description and most importantly Line Items.
While adding the fee category, you can ignore adding payers. We can add payers after creating the category.
Here's a documentation on Credit Balance feature:
Category Settings
Payers: You can add students by name, class/section, by subject name, by student name, by applicant to CRM form.
Partial Payments: this can be enabled when your students need to pay partially for 2 or more times.
Credit Balance: will let students/parents, or admins to pay invoice with the available credits.
Recurring Payment: this can only be enabled if you have Stripe payment gateway integrated, or Classe365 payment bridge is integrated.
Link with Finance Module: Finance module is maintained by the accountant, they can also track expenses, income and analyze profit or loss. There if you want to disclose the payment info with accountant you can link the Fee Category to Finance Module there you'll have to choose the account, Credit Ledger and Debit Ledger.
Multi Currency Support: is used when you run an online school and charge, there you can define currency rates of current day and enable the category so that the currency rate will be constant and won't flicker in future!
Once you have entered all the necessary information, click on the Save button to create the category.
STEP-4: Raising Invoices
After adding category, you can now raise an invoice by simply adding invoices from the categories.
In the payers section, you can then select the payers.
Upon clicking on "Save" the system will create invoices, and if email notification is enabled the user should also receive an invoice link, using which they can directly pay.
STEP-5: Listing Invoices
After creating invoices, go to Invoices tab to view all invoices, to find invoices from specific fee category, you can always apply "Filter".
Classe365 has supports filtering invoices from multiple statuses, and the admin can even export the filtered results to an Excel sheet.
STEP-6: Generating Reports on Fee & Invoices
Reports on fee module can be easily obtained from the "Reports Module".
Conclusion
Classe365's Fee & Invoicing Module makes it easy for organization administrators to raise and manage invoices for students and parents. With this feature, you can streamline your fee collection process and ensure timely payments from your students.
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