Income Categories

You will find your Income Categories still under the Admin tab and then by selecting Billing Setting -> Income Categories.

Your system will come pre-set with “Tuition and Registration”. Do not change the Tuition category and do not add monthly tuition categories such as “Sep Tuition” or “Oct Tuition” etc. A “General Tuition Category” is used for “Tuition” and “Billing” is done by time interval date range.

To create a new category:

• Click on Add New Categories Button
  

• Enter in Income Category name

• If the category is taxable – enter the Tax percentage in the Category tax – (ex. Enter as 7.00 for 7%)

• Pay at Signup refers an automatic invoice being generated when a new student is added to the system. If you want an Invoice to be Auto-generated for a category such as Registration you would click the box Pay at Sign Up. All categories selected as Pay at Sign up will generate for each student added if added by the studio or through the online registration. This invoice will be created prior to class enrollments so it will be there when a parent logs in the first time.

• Status must be set to Active. If there is an old Income Category you are no longer using you can make that Inactive. Making an Income Category will completely remove that Income Category and you will no longer be able to use it. It will remain on previous open or paid invoices.

*Categories can be as specific or generic as you’d like. For example, you can have a generic Dancewear category or you can break it down to Dance wear – Shoes, Dancewear – Tights. You decide how you detailed you want to be. If you wish to group your individual income categories together you can start them in the same manner with a code or number. For example: Costume-Ballet, Costume-Jazz or 5-Ballet Shoes, 5-Jazz Shoes

Once the category is created, the original default price needs to be entered by clicking on the Income Category Price tab. Once this default price is set you will be able to change the price of specific invoices on a case by case basis.

!Once a category is created and billed on an invoice, it is suggested you do not change it. If you change the name, it will change across all invoices already billed with that category. Changing or removing a tax rate will not change previously invoiced items, but will come into effect when new invoices are made.