Invoicing a Set Amount Over a 12 Month Period

Mar 30, 2006 1 Replies

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


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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