Finance Overview

This lesson provides an overview of how finance is managed in TEAMS, focusing on how financial records are structured, processed, and linked to enrolments to ensure accuracy and clear tracking across each student’s study journey.

• Explains how TEAMS structures financial data by linking records to the enrolment level rather than directly to the student.
• Describes the relationship between Applicant, Application, and Enrolment and how each stage impacts financial processing.
• Shows how instalments at the application stage are converted into invoices once the student is enrolled.
• Explains how invoices are structured with individual fee line items and how receipts are processed against these invoices.
• Highlights how agent commission is handled, including pre-deducted and post-paid commission methods.
• Outlines the difference between Commission Payments and Pending/Batch Payments for managing agent claims.
• Covers how fees can be split across multiple invoices using instalment plans and recalculation options.
• Explains key financial considerations such as GST treatment for tuition and material fees.
• Provides an overview of system integrations, including MYOB, Xero, and online payment gateways such as Ezidebit, Stripe, and PinPayments.

IMPORTANT: At the end of this lesson, you will need to complete the quiz before moving on to the next lesson.