Finance Codes

  • Updated
Follow

Finance Codes are utilised to manage accounts receivable for different tuition fees, state funding and additional charges. Finance Codes enable you to match the account/finance codes in your accounting system with aXcelerate to support invoicing and payments related to your training services. Defaults can be set for all training services, or defined for specific workshops and classes.

Finance

 

Finance Codes

Add a Finance Code

  1. Click Add Finance Code
  2. Enter the Finance Code Description
  3. Enter the Finance Code
  4. Uncheck if an agent does not Attract Commission under this Finance Code
  5. Click Submit
 

Tips: If migrating with a cloud based Finance System such as Xero or Myob, you must import your finance codes.

Users with domains assigned to them will only be able to access Finance Codes with the same domain.

 

Note: Finance codes are automatically set to be unique, ensuring that the same finance code cannot be added more than once for reporting purposes. If this is not the case for your Finance Setup as you may utilise multiple cost centre codes, please contact the aXcelerate support team. In this situation, it will also be important to rely on the reporting from your finance/accounting package.

 

Warning: When exporting to a Finance System the Finance Code must match.

Update a Finance Code

  1. Search for the Finance Code you wish to update
  2. Click the Update icon
  3. Make changes to the Finance Code as required
  4. Click Submit
 

Note: Changing a Finance Code will not affect previously generated invoices.

Set a Default Finance Code

Specifying a default finance code for different areas of aXcelerate will make invoicing more efficient as you will not need to apply to individual training events or individual invoices.

  1. Locate a Finance Code
  2. Update the Finance Code
  3. Select the relevant area of aXcelerate to set the default
 

Note: An area in aXcelerate can only have one (1) finance code as a default per domain.

Deactivate and activate a Finance Code

Setting an item as inactive will cause it to be no longer available to apply to invoices.

  1. Search for the Finance Code you wish to deactivate
  2. Select the Deactivate icon next to the Finance Code
  3. View deactivated Finance Codes by selecting the Inactive tab above the list of codes
  4. Select the Activate icon next to the deactivated Finance Code you wish to reactivate
 

Tip: This feature allows you to put the Finance Codes on hold but not completely delete them from your system.

Related articles