Enrolment Finance - Documents DRAFT

Relationship with documents. Definition of proforma document.

Proforma, Invoice, Credit Note, Memo, Commission Credit Note

From previous page:

There are different finance documents that we can send to students, agents and companies. To make sure you are creating the right documents, please see the definitions below.

INVOICE - the document which will be paid.  Invoices can be sent to Students, Agents and Companies, dependant on the Invoice Method selected.
MEMO - the 'fake' invoice which will not be paid, but acts as a record for the other party to the booking
CREDIT NOTE - the credit (note) to be paid by the school - refunds or commissions.

Typically, schools will send the following documents with each enrolment/change based on the 'invoice method':

Student Pays Gross

Most schools send:

• Student INVOICE (the student will pay this invoice to the School)

• Agent MEMO (this has the detail of the student invoice but also includes the agent commission as a discount)

Some schools send:

• Student INVOICE

• Agent CREDIT NOTE - shows just the commission transaction

Agent Pays Net

Most schools send:

• Student MEMO (this is a 'fake' copy of the Agent Invoice but without the Agent Discount i.e. the 'Gross' amount).  This is for information only and is not paid.

• Agent INVOICE (this is the invoice to be paid, it includes the detail of the student invoice but also the agent commission as a discount - the Agent will pay this invoice to the School)