Invoicing a Set Amount Over a 12 Month Period


P

Peace Frog

Most of the classes we teach are paid for at the time the sudent
arrives at the school. A couple classes, however, are taught over a
12 month period and are more expensive than the average person can
comfortably plunk down in one payment. I've been trying to figure out
the cleanest, least confusing way to deal with monthly payments over
that 12 month period. I'm using QBPro2004.

Ideally, I'd like to both track the class cost balance due and track
monthly payments and whether or not they are late. After trying
several methods, I'm settling on memorized invoices issued monthly
with reminders turned on to keep everyone on schedule. This doesn't
allow me to automatically track each student's balance due, but I
suppose I could include a note in the student's profile explaining the
total cost and payment setup.

Comments or suggestions?

Thanks, Brett
 
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N

NYC-Guru

Brett,
I'm not sure why you can't track the students balances?
If you look at the customer list with the balances it may not be
accurate, but if you run an accounts receivable with the correct date,
you should have no proble..that is assuming that the invoices you are
sending out monthly have the current months date. I set up a private
school with this system a few years ago and it worked out great.
-G
PS You can set up a Revenue line for say 2005/6 income and towards the
end of the spring, if people start paying for the following year, you
set up a new revenue line for 2006/2007 stc...Does this Help?
 

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