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In order to keep the finance as simple as possible - and so credit controllers know which invoice(s) to chase, it very important to ensure the correct use of Credit and ReInvoice.
For example, it may be that a late change is made to the students Enrolment after the student starts but it is desired by the Student, Agent or Company to have only one invoice to pay - in particular if they or the Agent or Company have not paid yet - so there may be cases where you should overide the default behaviour and to tick the Credit & ReInvoice tickbox.
Why does Schoolworks regenerate finance when bookings are changed?
So that the customer pays the correct price
Income and deferred income is correctly recalculated
Any date changes require new finance transactions to be generated which in turn will ‘move along’ and income and deferred income into the correct period
Historical Reporting is correct
Schoolworks tracks all income on a date and change basis
This allows for accurate historical reporting and ensures performance can be accurately tracked and predicted in future