The Fiscal Year Breakdown Report is grouped by budget code and breaks down the allocation of payments, credits and refund across different fiscal years. The Fiscal Year Breakdown Report contains the following information:
- The date the transaction was originally recorded in the system.
- The date the transaction was deposited.
- The name of the payer.
- The type of transaction; this can be payment, credit, refund etc.
- The transaction method.
- The total amount of the transaction allocated to the budget code.
- The amount that has been allocated to each fiscal year.
Transactions Spanning Fiscal Years
When an enrollment in Courses or ECFE occurs and payment is taken, the system automatically defers the payment to the fiscal year of the start date for the class. If a Course Section's dates span over two fiscal years, the system will break the payment based on the percentage of dates in each fiscal year.
In Child Care, if a payment occurs before the start of a new fiscal year and is paying for child care charges that occurred after the start of the fiscal year, the payment will be placed into the new fiscal year automatically. If the payment is paying for tuition charges that span over the fiscal year then the system will split the payment based on the percentage of the tuition charges that are in each fiscal year.
Prepayments are a way to collect payment for future tuition owed before an invoice exists when approving a contract within the Child Care module. Prepayments may be calculated based on a first invoice date range or may be set up as a flat amount. When a program receives a prepayment that does not yet have an invoice to post to, the system will generate an estimated invoice for the prepayment period. The estimate invoice becomes a hidden invoice and may be accessed from the invoices list view. The estimated invoice is saved with the payment for tracking how the system estimated the budget code and fiscal year break down for the payment when an actual invoice or multiple invoices are eventually created. Once the real invoices are created the system will allocate the payment to the actual invoices and re-generate the estimate for the remainder of the prepayment that has not been invoiced yet and re-adjust the payment's allocation as needed.
There are a few ways to identify fiscal year breakdown for transactions.
- The Fiscal Year Breakdown report which may be printed as a PDF, ODS, Excel or TXT.
- Adding the Fiscal Year column to one of the transaction list views (transactions, payments, refunds, chargebacks/returns and deposits) will also display the fiscal year a payment falls into.
- View the budget code tab for transactions and enrollments to see a breakdown.
Complete the Task: Running the Fiscal Year Breakdown Report from System Reports
- Navigate to Reports
- Select Reports
- Select Fiscal Year Breakdown
- Complete the Fiscal Year Breakdown report form.
- Select Run Report
*Note: when running the Fiscal Year Breakdown report from the systems report there is no way to filter by budget code or transaction type.
Alternative locations to run the Fiscal Year Breakdown report from:
Finance > Budget Codes List
Finance > Chargebacks List
Finance > Deposits List
Finance > Payments List
Finance > Refunds List
Finance > Transactions List
Complete the Task: Running the Fiscal Year Breakdown Report from list pages
- Navigate to Finance
- Select the desired list view
- Filter or select transactions
- Select Reports and select the Fiscal Year Breakdown Report to run the report.