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)