Finance Setup

Finance Setup

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Steps to complete before using the Finance feature


Set up Finance Codes

Finance Codes are accounts/finance codes that must be set up in aXcelerate to match your accounting system/software to support invoicing and payments related to your training services. You will need to set up at least ONE Finance Code in aXcelerate if you plan to use the Finance system but do not intend exporting finance data from aXcelerate. If you intend to export finance data from aXcelerate, you will need to set up your aXcelerate Finance Codes and use those codes in your aXcelerate invoices prior to exporting finance data to your accounting system.

aXcelerate currently supports contacts, invoices, payments, credit notes and refunds data export to a number of popular accounting systems. For the latest list of support accounting systems please contact aXcelerate via the support system.

Set up Items List

This feature enables you to create non-training related additional billable items such as administration, materials or amenities fees. For example, some organisations may charge a materials fee of $150.00 as an additional billable item to appear on invoices.
 

Set up Finance Models

This feature enables you to create and manage different course costings/funding models and multiple funding contributors for accredited programs. For example, you are delivering a program where you want to charge a student tuition fee at different rates depending on eligibility requirements (e.g. healthcare card, jobseeker, concession card, etc.) for a specific program type. You may also want to charge an Employer or third party organisation such as an employment agency for course fees over and above the student tuition fees. Finance Models allows you to charge a student, employer or 'other' contributor for the whole program fee, partial payment, percentage of program, payment per subject or fee per nominal hour for each subject. This feature also enables you to add non-training related additional billable items such as administration, materials or amenities fees.
 

Set up Payment Plans

This feature enables you to create payment plans based on rules for accredited programs. For example, you may wish to charge a student an initial deposit of $1,000.00 and then four equal payments of $250.00 every two months making a total of $2,000.00.
 

Set up /wiki/spaces/AUK/pages/7012740

This feature enables you to create discounts for workshops/short courses.