The below is broken into multiple parts and the various ways to manage your Accounts / invoicing process. The below is one use case, but please review your options with your CourseCo CRM Manager.
Payment Terms Setup and configuring when the Invoice is sent
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This is a suggestion only, please review with your crm lead |
In some organisations, Invoices are sent when the booking has been made, in other cases due to credit terms with the organisations, you may want to issue the invoice 1 day before the course starts. CourseCo will configure the below process for you, and you can manage the rest.
Configuring when to automatically send an Invoice for specific Accounts
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CourseCo will review the below workflow with you, to ensure it meets your needs. Adjustments may need to be made for your business |
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This organisation will receive the invoice when they book the training
The invoice will be sent to the lead booker once the booking is made.
The invoice will populate the date the invoice was generated i.e. the booking date.
Option 1: How to set an Organisation as 'On Account' i.e receives Invoice before training and not on the booking date
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Precondition: CourseCo will have configured your automated process. You will have access to Labels/Tags and an existing Tag ‘On Account’ will exist |
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Booking made against this organisation, will receive the Invoice before the training start date (Not when the booking has been made)
Any new org reps, linked to this organisations will receive the On Account payment terms
Option 2: Not on Account Organisations i.e receives Invoice when the booking has been made.
For these types of invoice creation, admin does not need to do anything. The invoice will send straight away when the booking has been made.
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IF you have not applied a External Ref ID on the organisation before the booking has made, the Sage ID will not be populated on the Invoice. |
Reconciling CourseCo with Your Bank/Finance System
You might be using a 3rd Party Accounting Software to manage your finances Eg Xero, Sage ..etc
You can use CourseCo reports to reconcile your finance system. Follow the below suggestions on how to manage.
Credit Card Payment Reconciliation i.e. receiving payments through Checkout and Stripe
When a booking is made via the website, payments can be made via Credit Card. The process is outlined below
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Booker completes a booking using Credit Card via the website
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The Payment is sent to your Stripe account. Stripe will send you a payment email.
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A booking confirmation is sent to the booker confirming the booking (from CourseCo)
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Admin can view the Payment in various areas throughout CourseCo
Booking List Screen | 0 outstanding
View the booking | Payment Type Column will populate Credit Card
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Recent Payments Report - lists Credit Card payments completed / not completed and note from Stripe eg Completed or incomplete Insuff Funds
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Booking Revenue Report - View booking date, Payment Method, booking amount etc, great for admins as relates to the booking / organisation
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Invoice |
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Invoice Payment Reconciliation i.e. receiving payments through Bank Transfer and updating CourseCo once received
Invoice booking (Bookings made using a Purchase Order Number) can be completed via the website (when completing a booking as an organisation) or by an admin via Backoffice bookings.
When a booking has been made, on the website or by Admin, the payment on CourseCo is outstanding until manually updated by the admin.
Please follow the link here to see how to mark a transaction as Paid or Partially Paid.
Admin can run reports to view transactions that need to be reconciled with the bank payments. See below suggestions on reports to run to determine Payments that have been made or outstanding payments to be reconciled.
Account Reconciling Reports
Admin can run multiple reports, below outlines the various benefits of each report
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Booking Revenue Report - View booking date, Payment Method, booking amount etc, great for admins as relates to the booking / organisation
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Invoice Date column - this displays the date the invoice was created, if blank, this means the invoice has not yet been generated.
Invoice Number Column - this populates the unique invoice number when the invoice was generated
Booking date Column - The date the booking was made by either booker via the website or Admin.
Payment Method Column - Filter by Invoice to review Invoice Bookings only
PO Number - Review bookings without a PO number
External Ref ID - This is the 3rd Party eg Sage ID applied to the organisation account
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Example Transactions Report
Manually Regenerate a Invoice
In some cases, you may need to regenerate the invoice due to changes made to the booking. This can be updated manually.
Login as Admin
Open bookings and select the booking
Navigate to the Documents Tab on the contact.
Select Actions > generate document
Select Document Template - Invoice
Select the Booking it relates to
Select Generate and Download or Generate and Save.
See more detailed user guide here
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