Managing Finances

The purpose of this section of the manual is to provide you with assistance in entering fees that need to be paid to the College for student courses and services. Fees are paid by students and their agents and have the option to be paid in full or part payments, which is set up in the student account. This section of the manual will also provide assistance with receipts, reconcile banking and scheduling payments.

eBECAS/EDMISS also includes financial reporting, which allows you to calculate income earned during a period as well as earned on sale.

Topics

Invoices — Any invoice (for an accepted enrolment) generated in eBECAS/EDMISS is a contract and therefore needs to be treated like one. Any course changes or alterations to the fees due to be paid must be documented.

Receipts — When you are entering a receipt, it is important to remember that you are receipting the exact money that you have received. It does not matter if you receive more or less money than what is invoiced. Whatever amount is paid to the college is the amount that you receipt in eBECAS/EDMISS.

Credits — A credit is a payment that has not been received for an invoiced fee. The credit types in eBECAS/EDMISS are Discount fee, Write-off fee, Currency Fluctuation, Bank Charge and Credit - Agent fee.

Debits — eBECAS/EDMISS allows you to make un-expected payments such as refunds and transfers.

Scheduled Payments — There are several types of payments that can be scheduled. Below is a list of these payments

Banking Deposits / Receipt reconciliation — Banking Deposits enable you to reconcile the receipts made for each bank account. Once the reconciliation has been made, the receipt cannot be deleted.