Overview

The Balance field in financial overview per month setting (Setting ID: Balance_Field_In_Financial_Overview_Per_Month) is located under Financial Settings > General Settings > Financial Reports > Financial Overview per Month/Installment.

What This Setting Does

This setting controls how the outstanding balance is calculated and displayed in the financial overview per month report. It determines which combination of agreed amounts, invoiced amounts, and paid amounts is used to compute the balance shown for each month or installment.

Where It Is Used

This setting affects the Balance column shown on the financial overview per month report, a summary view used by finance staff to track how much is owed or has been settled over time.

• Main Menu > Financial > Financial Overview per Month/Installment – the Balance column on this screen’s grid follows this setting.

Business Logic / Behavior

• This is a single-select (dropdown) setting with a fixed set of calculation options; the default option is Agreed minus Paid.
• Agreed minus Paid shows the balance as the originally agreed amount minus what has actually been paid.
• Invoiced minus Paid shows the balance as the amount that has been formally invoiced minus what has been paid, which can differ from the agreed amount if not everything agreed has been invoiced yet.
• Agreed minus Invoiced shows the gap between what was agreed and what has been invoiced so far, regardless of payment status.
• Max of Agreed or Paid shows the balance based on whichever of the agreed amount or the paid amount is higher, avoiding a negative balance in overpayment scenarios.

Example(s)

At Hillcrest School, for the month of October, families have agreed to pay a total of $60,000 in tuition installments, the finance office has formally invoiced $52,000 of that amount so far, and $45,000 has actually been paid. The finance director, Mr. Osei, wants the monthly financial overview to reflect strictly what has been formally invoiced versus paid, rather than amounts only verbally agreed with families, so he sets the Balance field in financial overview per month setting to the Invoiced minus Paid option. As a result, the October Balance column shows $7,000 ($52,000 invoiced minus $45,000 paid) as outstanding, instead of the $15,000 that the default Agreed minus Paid option would have shown ($60,000 agreed minus $45,000 paid).

When to Use

Use this setting when you need the financial overview per month report to reflect a specific way of calculating outstanding balances that matches your institution’s accounting practices, for example basing the figure on invoiced amounts rather than agreed amounts, or vice versa.

Notes

Prerequisites: agreed amounts, invoices, and payments should be properly recorded in the system for the selected calculation method to produce meaningful results.

• Date filtering on financial overview per month/Date_Filter_In_Financial_Overview_Per_Month (Financial Settings > General Settings > Financial Reports > Financial Overview per Month/Installment)
• Calculation of franchise fees from the date/Calculate_Franchising_Fees_From_Date (Financial Settings > General Settings > Financial Reports > Financial Overview per Month/Installment)
• Calculation of franchise fees up to the date/Calculate_Franchising_Fees_To_Date (Financial Settings > General Settings > Financial Reports > Financial Overview per Month/Installment)

This setting behaves the same regardless of whether Higher Education Mode (Enable Configuration for Higher Education/Xrisi_parametropoihshs_kolegiou) is enabled or disabled.