Step 6 · Tuition income and receipts

In one sentence

The money-in side mirrors the money-out side: create the student (customer) → raise an invoice → record the receipt when the money lands. Whatever sits in between is your receivables.

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1. Create students / customers

Fig. 01-customers

Books → Sales (AR) → Customers → New

Two kinds, both created in the same place:

Kind	How to name it
Individual student	"Student name (parent: …)" — makes chasing payment easier
Corporate training client	Full company name + UEN

Fig. 03-customer-form

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2. Raise the invoice

1

Raise a tuition invoice from here

Fig. 02-invoices

Books → Sales (AR) → Invoices → New Invoice

Fig. 04-invoice-form

Field	What to enter
Customer	The student or company
Issue date	The date you raise it
Due date	Agreed payment terms
Lines	State course + term + number of sessions, e.g. "2026 Q1 tuition (12 sessions)"
Account	Individual tuition → 4150; corporate training → 4100
GST code	Academy isn't GST-registered → ES

New invoices are Drafts. Once checked, press Send & Post on that row. A confirmation appears:

Send and Post Invoice — This assigns the final invoice number and posts the accounting journal. Continue?

⚠️ You must press "Send & Post" inside the dialog.

On success the number changes from DRAFT to a real one (e.g. INV-2026-0004) and the status becomes Sent.

The InvoiceNow checkbox on the form

That's Singapore's e-invoicing network (Peppol). The Academy doesn't use it yet — leave it unticked. Ask John before enabling.

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The prepaid-tuition trap

If a parent pays a full year up front, you cannot book it all as this month's income — the un-taught lessons are a service you still owe, i.e. deferred income (2250).

The system can spread it monthly, but John has to set the policy first.

Until he does, don't enter full-year prepayments — set them aside and ask him. These amounts are usually large, and fixing them means reversing and re-entering.

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3. Receipts

Books → Sales (AR) → Receipts → New

1

Record the receipt here once the money lands

Fig. 05-receipts

Field	What to enter
Customer	Who paid
Receipt date	The day the money landed (per the bank, not the day the parent says they sent it)
Method	payNow / transfer / cheque
Bank account	DBS Current Account
Reference	The bank reference
Allocation	Which invoice this settles

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4. Who hasn't paid

Fig. 06-aging

Books → Sales (AR) → Aging — every unpaid amount, by student and by how overdue.

This is your chase list. Worth a look every week.

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5. Common mistakes

Mistake	Consequence
Booking cash as income without an invoice	Receivables never reconcile; you can't tell who owes what
Forgetting to Send, leaving drafts	The income isn't on the books
Using the date the parent claims they transferred	Won't match the bank; month-end becomes a manual hunt
Booking a full year's prepaid tuition as this month's income	Income overstated — see the warning above