Online Accounting

note

This section only applies if the school has integrated ScholaSys with a supported online accounting system.

info

ScholaSys can integrate to:

1. Sage Business Accounting
2. QuickBooks Online

Overview

ScholaSys contains all student accounts. There should be no student accounts in the online accounting system.

The details of student transactions are only in ScholaSys, whereas a summary of the transactions are in the online accounting system.

Since the student accounts are in ScholaSys, the online accounting system does not keep these as 'Debtors' or 'Accounts Receivable'. It is therefore required to add two balance sheet accounts in the online accounting system that will serve as the bridge between ScholaSys and the online accounting system. The two accounts are:

1. ScholaSys Debtor Control.
   • This will be used by ScholaSys as Accounts Receivable Control for student accounts
2. ScholaSys Payment Clearance.
   • This will be used by ScholaSys as the clearance account for all payments received

Setting up integration to an online accounting system

School fees and other income

In the online accounting system

1. Create the income accounts that will be used by ScholaSys. These will include the required 'School Fees' income account, and other accounts, such as 'Stationery', etc. if needed.
2. Create two balance sheet accounts:
   • ScholaSys Debtor Control (Asset account)
   • ScholaSys Payment Clearance (Suspense account)

In ScholaSys

note

Setting up the link for the GL Accounts can only be completed after the school has been configured to link to an online accounting system. The link is set up in School Configuration

1. Link the GL Accounts to the income accounts.

Processing Transactions

School fees and other student transactions (Excluding Payments)

Each time a transaction batch is processed, ScholaSys will update the online accounting system with the transactions.

The update will post a journal to the online accounting system.

Date	GL Account	Reference	Description	Debit	Credit
Last day of the period	Linked GL Account	BatchNo:Batch Type	Batch Description		Amount
Last day of the period	ScholaSys Debtor Control	BatchNo:Batch Type	Batch Description	Amount

Example:

Date	GL Account	Reference	Description	Debit	Credit
2022-02-28	Fees Income	155:School Fee	School Fees - Feb 2022		35000.00
2022-02-28	ScholaSys Debtor Control	155:School Fee	School Fees - Feb 2022	35000.00

Payments Received

Payments received are captured in the online accounting system to allow reconcilliation of the bank account. The payments are also captured in ScholaSys to allocate the payment to the student account.

In the online accounting system

1. Capture the payment as a receipt in the bank and allocate the payment to the ScholaSys Payment Clearance account.

In ScholaSys

1. Create a new transaction batch with Batch Type of 'Payments'. Set the description to 'Payments - 2 Feb 2022'.
2. Capture the payments received against the student accounts.
3. Confirm the transactions balance with the bank statement.
4. Process the transaction batch if the transaction date is in the Current Period. See Transaction Periods

Example of two EFT payments received:

Bank Statement

Date	Description	Receipt	Payments	Balance
... other transactions on the statement
2022-02-02	EFT Student 10	3500.00		43125.20
2022-02-02	EFT Student 11	2850.00		45975.20
... more transactions on the statement

1. The two EFT transactions are captured in the online accounting system and allocated to ScholaSys Payment Clearance.
2. The two EFT transactions are captured in ScholaSys and allocated to the correct student accounts.

After the transactions where processed the GL Accounts in the online accounting system will be:

Bank

Date	Description	Debit	Credit	Allocated to
2022-02-02	EFT Student 10	3500.00		ScholaSys Payment Clearance Account
2022-02-02	EFT Student 11	2850.00		ScholaSys Payment Clearance Account
	Total Received	6350.00

ScholaSys Payment Clearance Account

Date	Description	Debit	Credit	Source
2022-02-02	EFT Student 10		3500.00	Bank	Captured in the online accounting system
2022-02-02	EFT Student 11		2850.00	Bank	Captured in the online accounting system
2022-02-02	Payments - 2 Feb 2022	6350.00		ScholaSys Debtor Control	ScholaSys created this
	Balance	0.00	0.00

ScholaSys Debtor Control

Date	Description	Debit	Credit	Source
2022-02-02	Payments - 2 Feb 2022		6350.00	ScholaSys Payment Clearance Account	ScholaSys created this
	Balance		6350.00